Usually bullish, Goldman Sachs is changing its tune about oil (New York Mercantile Exchange: @CL.1). The widely followed investment bank is now predicting oil prices will fall another $10, ultimately dropping to $70 a barrel in 2015.
Oversupply Pressuring Oil Prices The recent decline in oil prices can be directly associated with increasing oversupply in the global market as Shale oil output in the US is forcing cutback on importation (no importation from Nigeria in H2:2014), coupled with reduced demand from other regions including China.
SacOil, the African independent upstream oil and gas company, today announced the signing of an agreement to acquire the Cyprus-registered Exploration and Production Company, Mena International Petroleum Company Ltd (MIP).
The sectarian strife in Iraq has put growth of OPEC crude oil production capacity over the next five years at risk, according to the International Energy Agency, highlighting the importance of the country to the global energy market. Roughly, 60% of the g
Yesterday, Oando Energy Resources announced the receipt of the long awaited ministerial consent of the Honourable Minister of Petroleum Resources of Nigeria for the acquisition of the upstream oil and gas business of Conoco Phillips for a total cash consi
Oando Plc, a player in the oil and gas exploration and production business in Nigeria this evening, announced receipt of the consent of the Honourable Minister of Petroleum Resources of Nigeria for the acquisition of the Nigerian Upstream Oil and Gas Busi
There may be geopolitical reasons to help the unsavory Maliki in what looks less like an Iraqi insurgency and more like a regional Sunni-Shiite conflict, but America has surprisingly little economic interest in taking sides. The big economic issue involv