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Nigeria Could Lose OPEC Status If It Signs New Oil Bill

Nigeria Could Lose OPEC Status If It Signs New Oil Bill

August 30, 2018 No Comments

While Nigeria’s President Muhammadu Buhari is said to be withholding signing the country’s new petroleum bill into law over concerns that it strips the president of powers over the industry, a former manager at the Nigerian National Petroleum Corporation (NNPC) warns that Nigeria could lose its membership in OPEC if the bill becomes law. If […]

U.S. Shale Is Immune To An Oil Price Crash In 2017

U.S. Shale Is Immune To An Oil Price Crash In 2017

May 17, 2017 No Comments

Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid […]

An OPEC Deal Extension Isn’t As Simple As It Sounds

An OPEC Deal Extension Isn’t As Simple As It Sounds

March 22, 2017 No Comments

It’s been six months now that oil prices have been reacting to OPEC, first to the possibility of an agreement, and then to the production cut deal itself, forged by OPEC to rebalance the market. The deal–initially aired as ‘an agreement to agree on a deal’ in September and signed at the end of November—will […]

Petrobras Sets up of Committees to Analyze the Application of Administrative Sanctions and Provisional Ban

December 30, 2014 No Comments

Petróleo Brasileiro S.A. – Petrobras announces that today its Executive Board approved the set up of Committees to Analyze the Application of Sanctions (CAASE) and the provisional ban of companies comprising the business groups cited as cartel participants in the testimonies of former Downstream Director Paulo Roberto Costa and of Mr. Alberto Youssef provided on […]

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