Crude prices slumped by over 30 percent on Monday in their biggest fall since the 1991 Gulf War, after the OPEC+ alliance failed to agree on a deal to introduce new production cuts last week. Brent crude futures gained $2.51, or 7.3 percent, to reach $36.87 per barrel on Tuesday, while US West Texas Intermediate … Continue reading Oil prices improve by 7 percent a day after global markets crash
Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry. Saturday’s assault on Saudi oil facilities that halved production has exposed how ill-prepared the Gulf … Continue reading Saudi Arabia’s vulnerability, a waste of resources on national security
Introduction Petroleum is among the world’s most important natural resources. It is a highly-traded commodity in the international market (Ruta et al, 2012) and also most dependable source of energy for both industrial and domestic applications after superseding coal at the beginning of the century. Production of crude oil in Nigeria peaked at 2.5 million … Continue reading Research proposal on crude oil waste and the extent of regulatory compliance by International Oil Companies in Nigeria
An oil pipeline that supplies 90 per cent of North Korea's crude has been excluded from the latest United Nations sanctions against Pyongyang in part for one very practical reason: once China turns it off, it can't be easily turned back on again. The Dandong-Sinuiju pipeline delivers more than half a million tonnes of crude … Continue reading Did China play smart with the UN-North Korea Sanctions?