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What happened after the oil price crash?

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Higher oil price forces marketers off import

Higher oil price forces marketers off import*/

– NNPC now sole importerTHE foreign exchange scarcity and recent appreciation of the price of crude oil in the international market are threatening smooth supply of petrol in the country, Daily Trust has gathered.Daily Trust gathered that for over three months now marketers have not been importing the product into the country due to the tricky nature of the situation.“Right now government is not paying subsidy, even with the lower exchange rate of 285/$1, the increase in the price of crude oil has shot the landing cost of the refined product by about 40 percent,”, a marketer who asked for anonymity told Daily Trust yesterday.
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North Sea oil has healthy future after price rise, says BP boss

North Sea oil has healthy future after price rise, says BP boss*/

– Get business updates directly to your inbox + Subscribe Thank you for subscribing!Could not subscribe, try again later Invalid EmailOil major BP believes the ‘worst is over’ and is embarking on a new round of investment to support future production.This will lead to a new phase of drilling and investment on the United Kingdom Continental Shelf (UKCS), with chief executive Bod Dudley declaring the North Sea one of its ‘crown jewels’.
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What happened after the oil price crash?

What happened after the oil price crash?*/

– In an article written for revolutionary socialism in the 21st century , Brian Parkin surveys the state of the oil industry–with special emphasis on activist success in the U.S. in halting the Keystone XL pipeline and now the Dakota Access Pipeline, along with a renewed surge of labor activism in the British oil industry.Two years ago, between November 2014 and January 2015, oil prices on international markets fell by nearly 80 percent, leading to fears of a new stage of economic crisis.Within the energy sector, the crash wiped out many smaller fracking operations and forcing major producers to put some larger development projects on hold.
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Stocks still are up 9.2 million barrels from 493.7 million barrels one year ago picture-13396-310x165

Stocks still are up 9.2 million barrels from 493.7 million barrels one year ago

Cushing — home to the country’s largest commercial storage hub — saw storage levels drop …