Crude - eriinfo

Africa: Crude Oil – Middle East Crisis Pushes Buyers to Focus On Nigeria, Other African Producers

eriinfo.com3 days ago09 mins

Global energy analysts have predicted that Nigeria, along with other oil-producing African countries, will become a major beneficiary of the ongoing Middle East conflict. According to industry observers, leading energy giants in Africa, including Nigeria, Libya, Angola, Gabon, Mozambique, Namibia, and Tanzania, are increasingly seen as lower-risk alternatives to Middle Eastern crude suppliers. The ongoing…

Africa

Africa Losing $15bn Yearly to Exportation of Crude Oil – Operators

eriinfo.com2 months ago013 mins

Stakeholders in the oil gas sector have decried the continuous loss of jobs and investment in Africa due to lack of local value addition in crude oil production in the continent. The experts who spoke during the 9th Nigerian International Energy Summit (NIES) said there is the need to finance refineries in Africa to increase…

Africa

Africa: Oil Refiners – Africa’s Crude Demand to Jump From 1.8m Bpd to 4.5m Bpd By 2050

eriinfo.com4 months ago09 mins

The African Refiners and Distributors Association (ARDA), has said that the continent’s crude oil consumption will surge from about 1.8 million barrels per day in 2024 to as much as 4.5 million barrels per day by 2050, positioning the continent’s downstream energy sector as one of the world’s most significant untapped investment frontiers. Executive Secretary,…

Africa

Africa: Brent Crude Rises to $65 Over U.S. Sanction On Russia

eriinfo.com5 months ago02 mins

Oil prices have climbed as fresh U.S. sanctions targeting Russia’s energy exports tightened global supply, lifting Brent crude futures to their highest level in weeks. Brent crude rose 1.8% to $65.21 a barrel, while U.S. West Texas Intermediate (WTI) gained 1.7% to $61.16, as traders assessed the impact of new American measures restricting Russian oil…

Africa

Africa: Israel-Iran Conflict – Crude Oil Prices Drop to $73pb As Tension Eases

eriinfo.com10 months ago05 mins

The price of crude oil, yesterday, dropped marginally to $73 per barrel from $74 per barrel in the international market as the Israel-Iran conflict tension eases. The tension eased following Iran’s indication of interest to halt hostilities and resume negotiations over its nuclear program with Israel. Consequently, the price of Brent, usually used to benchmark…