Nigeria is the most vulnerable country with the least capacity to spare as crude demand declines and supplies build up, according to a new assessment of oil markets by IHS Markit
Industry
More than US$50bn in capex cuts announced in oil and gas sector
As the oil and gas sector comes to terms with decade-low oil prices and global disruptions caused by the coronavirus (COVID-19), company costs and investments are being slashed with more than US$50bn pledged to date and more on the horizon, according to GlobalData
Forties pipeline shutdown will worsen oil supply glut: Rystad Energy
Energy research firm Rystad Energy stated that the delayed shutdown of the Forties Pipeline System could increase North Sea production to around three million barrels per day (bpd)
Nigeria to review laws setting up oil and gas free trade zones
Nigerian government is reviewing the act establishing oil and gas free zones authority (OGFZA) to remove ambiguities and enhance effectiveness
NNPC tops trading surplus by 34 per cent in December 2019
Nigerian National Petroleum Corporation (NNPC), Nigeria’s national oil company, achieved a trading surplus of 34 per cent increase from November 2019
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