News, Uncategorized

IRAN AIMS TO RAISE DAILY CRUDE EXPORTS TO 1.4 MILLION BARRELS

Iranian Oil Minister Javad Owji said in televised remarks on Saturday that the country will try to raise its oil and condensates exports to 1.4 million barrels per day as set out in the annual state budget."In parliament, lawmakers decided to raise the ceiling of exports of oil and condensates from 1.2 million barrels (per… Continue reading IRAN AIMS TO RAISE DAILY CRUDE EXPORTS TO 1.4 MILLION BARRELS

News, Uncategorized

BREAKING NEWS: BIDEN BANS RUSSIAN OIL IMPORTS AND MAJOR U.S. BRANDS CLOSE OUTLETS

Here are the latest developments in the war in Ukraine. Nearly two weeks into Russia’s invasion of Ukraine, President Biden on Tuesday banned the importation of Russian oil and natural gas into the United States, and major American brands suspended operations in Russia, including McDonald’s, Coca-Cola and Starbucks, underscoring the country’s intensifying isolation.DCO Global News… Continue reading BREAKING NEWS: BIDEN BANS RUSSIAN OIL IMPORTS AND MAJOR U.S. BRANDS CLOSE OUTLETS

News, Uncategorized

NIGERIA RECORDS ZERO REVENUE FROM OIL EXPORT AS SUBSIDY HITS N199BN

Nigeria got no revenue from crude oil export in the month of October despite an average daily oil production of 1.417 million barrels in the month of September, latest report by the Nigeria National Petroleum Corporation (NNPC) has shown.NNPC on its report to the Federation Account allocation Committee (FAAC) released at the weekend disclosed that… Continue reading NIGERIA RECORDS ZERO REVENUE FROM OIL EXPORT AS SUBSIDY HITS N199BN

News

OIL PRICES RISE AFTER API REPORTS VERY LARGE CRUDE DRAW

The American Petroleum Institute (API) reported a huge crude oil inventory draw of 8.129 million barrels for the week ending July 4, compared to analyst expectations of a smaller 3.081-million barrel draw.   Last week, the API reported a draw of 5 million barrels. A day later, the EIA estimated a much smaller inventory drawdown… Continue reading OIL PRICES RISE AFTER API REPORTS VERY LARGE CRUDE DRAW