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We're glad you're here for the most recent Oil & Gas News collections, where we swiftly present the most interesting AllNews stories from the previous week.
Oil prices dipped on Monday as worries about fuel consumption in the main two oil users in the world, the United States and China, outweighed optimistic mood over tighter supply from OPEC+ cutbacks and a resumed U.S. purchasing for reserves.
By 0638 GMT, Brent oil futures had decreased by 26 cents, or 0.35%, to reach $73.91 per barrel, while U.S. West Texas Intermediate crude had down by 20 cents, or 0.29%, to reach $69.34 per barrel. Read more here.
Oil pollution in Bayelsa State came under worldwide scrutiny as the report of the state's Oil and Environmental Commission (BSOEC) was released in the House of Lords in London on Tuesday.
The 211-page paper, "An Environmental Genocide: Counting the Human Cost of Oil in Bayelsa, Nigeria," provides a thorough account of more than 60 years of oil exploration and pollution in the region where Shell made the country's first significant commercial oil discovery. Read more here.
One of Africa's top think tanks, the Nigerian Economic Summit Group (NESG), has predicted that the Dangote Refinery and Petrochemical Company, scheduled to open on May 22, will provide a $21 billion market for Nigerian crude oil.
In a statement, the organisation added that the facility could supply all of Nigeria's fuel requirements, including petrol, diesel, jet fuel, and polypropylene, as well as loading bays for about 2,900 tankers and the encouragement of the construction of 33,000 housing units. Read more here.
The People's Republic of China's National Energy Administration Administrator, Zhang Jianhua, has praised the high-level energy discussion between China and the member nations of the Organisation of Petroleum Exporting Countries (OPEC).
According to Jianhua, the discussions helped to keep the oil market stable on a worldwide scale. Read more here.
Dr Ngozi Okonjo-Iweala, Director-General of the World Trade Organisation (WTO) has urged the new governors to diversify the sources of income in their various states rather than rely solely on crude oil.
At an induction ceremony for the newly elected governors held on Monday in Abuja, the capital of the country, Okonjo-Iweala gave a speech. Read more here.
These are the latest Oil & Gas news that made trends during the week. Visit our website https://allnews.ng for more Oil & Gas news around the world.
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