Nigeria’s Presidential Advisory Council had warned that in the midst of the falling price of oil due to the ravaging COVID-19, Nigeria risked sliding into recession
Industry
Global oil demand now at 2.8mn bpd: Rystad Energy
Global oil demand will decrease by 2.8 per cent or 2.8mn bpd per day year-on-year as the spread of coronavirus continue to escalate, according to consultant Rystad Energy
Petroleum complex tumbles as coronavirus measures slash demand
The petroleum complex continued to tumble Monday, with Dated Brent falling below US$30 per barrel, and some gasoline crack spreads turning negative, as measures taken to slow the spread of the coronavirus have drastically slowed demand
‘Deepwater acreage will continue to attract significant company interest through 2020’
A significant portion of the acreage available in Q1 2020 is located in either deep or ultra-deepwater, up from the previous quarter, according to data and analytics company GlobalData
Nigeria expects to spend less on importing refined products
With the price of oil dropping in the international market, Nigeria expected to spend less on importing refined products
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