Total U.S. petroleum deliveries (a measure of demand) rose 1.5 percent from February 2014 to average 19.3 million barrels per day. This was the highest February demand since 2008.“Greater demand for gasoline and jet fuel and a colder-than-usual February brought total February deliveries back to
Oil & Gas
Thirteen ships laden with petroleum products, general cargo and food items have arrived the Lagos ports, waiting to berth, NAN reports. The Nigerian Ports Authority (NPA) stated this in its daily publication, `Shipping Position’ made available to newsmen on Thursday in Lagos. According to the publication, seven of the ships sailed into the ports with petrol, […]
Sharp differences in export diversification and foreign net asset positions help explain why some oil-producing countries are likely to weather sustained oil price pressure much better than others, according to Fitch Ratings. A Fitch study of sensitivity to an extended USD50/bbl West Texas Intermediate (WTI) crude oil price shock employed a simplified graphical approach to
The Nigerian crude oil industry is not only oily but also crude. That was the damning verdict of the Emir of Kano, HRM Muhammadu Sanusi 11, while speaking on the Cable News Network (CNN) on Wednesday. The emir, the immediate past Governor of the Central Bank of Nigeria (CBN), identified the unresolved controversy over kerosene […]
ConocoPhillips has announced its 2015 to 2017 capital budget and growth outlook, in which it says the oil prices will remain unstable in the near future, thereby making the company to reduce its three year spending plan from $16 billion per year to $11.5 billion. Chairman and Chief Executive Officer, of the company, Ryan Lance […]
