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Travel won’t recover until Q3, says oil’s largest trader By Verity Ratcliffe and Anthony Di Paola on 1/13/2021 (Bloomberg) --A return to pre-pandemic levels of oil demand will hinge on jet-fuel use, which is unlikely to recover until the third quarter of the year, said Mike Muller, head of trader Vitol SA’s operations in Asia. Jet fuel has been the oil product hardest hit by the coronavirus pandemic in Asia. Demand in the region for fuels such as diesel and gasoline was also affected but has rebounded. Vitol is the world’s biggest independen...

ABUJA – The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies called OPEC+, to stabilise the global oil market. Group Managing Director of NNPC, Malam Mele Kyari, who gave the assurance at the ongoing virtual Gulf Intelligence UAE Global Energy Forum 2021, said that despite the negative effects of the production cuts on government revenues, it was the best step towards redeeming the value of oil on the global market, in the interest of all. Speaking...

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By Etuka Sunday The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC) and its allies aimed at stabilizing the global oil market. The Group General Manager, Group Public Affairs Division, NNPC, Dr. Kennie Obateru in a statement said, the Group Managing Director of NNPC, Mallam Mele Kyari, stated this Wednesday while speaking at the ongoing virtual Gulf Intelligence “Global” UAE Energy Forum 2021. Mallam Kyari noted that despite the negative effects of the produc...