Tags » CRUDE Oil Prices

Petroleum industry and recession

The Nigerian economy has slipped into recession. The evidence is showing up in all the usual ways: slowing output growth, slumping purchasing-manager indexes, widening credit spreads, declining corporate earnings, falling inflation expectations, receding capital investment and rising inventories. 113 more words


Growth through Consolidation in the Liner Industry – The Next Big Wave

The global liner shipping industry is going through one of its worst phases in recent times. Consolidation activity has become a recent phenomenon within the industry after many liners reported declines in profitability due to various reasons. 2,741 more words

OPEC members’ net oil export earnings may crash to $341 billion in 2016

• Nigeria’s crude business revenue drops by more than half to $39b in 2015

• Earns $10b between January and May

The United States (U.S.) Energy Information Administration (EIA) has projected that members of the Organisation of the Petroleum Exporting Countries (OPEC) net oil export revenues could fall from the $404 billion it earned in 2015 to about $341 billion in 2016 . 395 more words

Oil & Gas

With Oil Back at $50, East Texas Shows Signs of Life Again

As crude prices plummeted last summer, Steve Pruett, chief executive of a small west Texas oilfield developer, idled a drilling rig, opting to pay $21,000 a day to store it rather than dig more wells and risk bigger losses. 885 more words


Nigeria: Buhari Blinks

Was it the wholly unexpected Q1 GDP contraction and imminent recession that sealed the deal? The accelerating depletion of FX reserves to a 10-year low?  Inflation jumping to a 6-year high of 13.7%? 283 more words


Boeing Shares Could Fall 15% if Sales Slow

Boeing Co’s stock could fall as much as 15% if sales of its aircraft fall on weakening demand, according to a report on Sunday in the financial publication Barron’s. 32 more words

GE announces deals worth over $1.4 billion with Saudi Arabia

DUBAI, United Arab Emirates (AP) — General Electric Co. said Monday it made a series of deals with Saudi Arabia worth more than $1.4 billion as part of the kingdom’s ambitious plan to wean itself off crude oil. 427 more words