OPEC
2 days ago
Amid unprecedented global uncertainty and rising protectionism, the ongoing World Economic Forum (WEF) yearly meeting has emphasised the urgent need for an open, inclusive global economy and strengthened international cooperation to address economic challenges and ensure a sustainable recovery.
16 Jan
Oil prices climbed above $81 per barrel yesterday, following the release of the latest Monthly Oil Market Report (MOMR) by the Organisation of Petroleum Exporting Countries (OPEC) and projections by Energy Information Administration
14 Jan
Nigeria’s daily average oil production rose by 152,000 barrels per day last November, according to data sourced from the newly released monthly oil market report by the Organisation of the Petroleum Exporting Countries.
9 Jan
Former Director-General of the Institute for Peace and Conflict Resolution (IPCR), Prof. Osita Oshita, has stated that sincere implementation of the Petroleum Industry Act (PIA) by the government will bring an end to the long-standing Niger Delta agitation. According to him, the PIA has the potential to address the developmental needs of the Niger Delta…
12 Dec
Oil supply is set to outpace global demand next year even as OPEC+ members extended cuts in efforts to prop up prices, the International Energy Agency said Thursday.
10 Dec
Nigeria's Ademola Adeyemi-Bero has been appointed as Chairman of the Organisation of the Petroleum Exporting Countries (OPEC) Board of Governors for 2025. Adeyemi-Bero, who is Nigeria's Governor for OPEC, emerged chairman on Tuesday at the 189th meeting of the OPEC Conference that brought together representatives from member countries to address significant issues, including reports from…
10 Dec
Nigeria has solidified its leadership in the global energy sector with the appointment of Mr. Ademola Adeyemi-Bero as Chairman of the OPEC Board of Governors for 2025. This announcement came during the 189th meeting of the OPEC Conference, reaffirming the nation’s influence within the Organization of the Petroleum Exporting Countries (OPEC). Prior to his elevation…
6 Dec
The Organisation of Petroleum Exporting Countries (OPEC) has extended Nigeria’s oil production quota of 1.5 million barrels of crude per day (bpd) to 2026. The organisation also extended the level of crude oil production for OPEC and non-OPEC participating countries as agreed at the 35th OPEC and non-OPEC Ministerial Meeting. The Federal Government has unveiled…
6 Dec
Nigeria’s 2025 budget, which is pegged on an optimistic oil price and production of over two million barrels per day (bpd), may suffer a major threat given the decision by the Organisation of Petroleum Exporting Countries (OPEC) to maintain production cut into 2026. The decision, analysts said, may freeze oil prices as Brent traded for…
5 Dec
The 38th meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries (OPEC) convened today. It brought together Ministers and Heads of Delegations to deliberate on critical strategies aimed at ensuring sustained stability in the global oil market. The discussions underscored the unwavering commitment of OPEC and non-OPEC member…
28 Nov
The OPEC+ alliance of major oil-producing nations has postponed a weekend meeting to December 5 in what analysts said were signs of disagreement among the group over plans to increase output. The 22-member OPEC+ group led by Saudi Arabia and Russia was due to decide on its 2025 output policy at a ministerial meeting originally…
15 Nov
The Federal Government is considering adding a fresh liability of $2.2 billion to the existing debt overhang as part of its plans to fund an ambitious spending envelope of N47.9 trillion next year.
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Inter Milan kept up the pressure on Serie A leaders Napoli on Sunday with a convincing 4-0 win at lowly Lecce which moved the defending champions three points from the summit. Goals from Davide Frattesi, Lautaro Martinez, Denzel Dumfries and Mehdi Taremi gave Inter their seventh win in eight league matches in a dominant…
10 mins ago
Aston Villa boss Unai Emery is ready to make a move for Villarreal defender Juan Foyth as he searches for a new centre-back. Emery wants to bolster his defensive options before the end of the January transfer window after Diego Carlos' move to Fenerbahce and Pau Torres' injury. Villa suffered another injury blow during…
57 mins ago
President Bola Tinubu has arrived Dar es Salaam, Tanzania, to attend the Mission 300 Africa Energy Summit commencing tomorrow, Monday. The President, who arrived at 10.20 p.m. (8.20 p.m. Nigerian time), was received by Hon. Ali Suleiman Ameir, Tanzania's Minister of State, Office of the President. The two-day Summit is being hosted by the government…
1 hour ago
Gov. Ahmed Aliyu of Sokoto State has approved the implementation of the new national minimum wage of N70,000 for state workers, effective Monday. Malam Abubakar Bawa, Press Secretary to the governor, disclosed this in a statement issued in Sokoto on Sunday,. Bawa confirmed that the payment would cover state civil servants, local government employees, and…
1 hour ago
The National Security Adviser (NSA), Mallam Nuhu Ribadu, has decorated Aminu Sanusi with his new rank of Superintendent of Police. SP Sanusi, a dedicated police officer who has served in various police formations, including the State Criminal Investigation Department, Panti, Lagos, is presently serving in the office of the NSA. The officer, with an impeccable…
2 hours ago
Troops on the frontline have eliminated top terrorist commanders, Mallam Umar, Abu Yazeed, Talha, and 70 others during clearance operations at Timbuktu Triangle. No fewer than 22 soldiers were slain by the terrorists. Defence Headquarters authorities urged the media to desist from publishing the names of the slain troops. Spokesman of Defence Media Operations (DMO),…
2 hours ago
Ange Postecoglou admitted he does not know if he will avoid the sack after Tottenham hit a new "low" with a dismal 2-1 defeat against struggling Leicester on Sunday. Postecoglou's side crashed to a sixth defeat from their last seven Premier League matches to increase the pressure on the under-fire Australian. Richarlison's 33rd-minute header gave…
2 hours ago
The Ondo State Deputy Governor, Dr. Olayide Adelami, has urged residents of Owo to assist the police with critical information following recent clashes between rival cult groups that left five people dead. The violence, which occurred over the past fortnight in the ancient town, has prompted the state government to impose a dusk-to-dawn curfew,…
2 hours ago
The Niger State Police Command has disclosed that there was an explosion of some suspected dynamites at Sabon-Pegi in Mashegu Local Government Area of the state on Sunday, January 26, 2025, at around 7:30 am. The command spokesperson, SP Wasiu Abiodun, who disclosed this in a statement issued to newsmen in Minna, explained that the…
2 hours ago
Popular Nigerian socialite and nightlife entrepreneur, Pascal Okechukwu, aka Cubana Chief Priest, has dismissed claims from a Kenyan woman alleging that he fathered her child. He described the entire saga as a deliberate attempt to destabilize his marriage. The controversy, which has been making headlines, surfaced when the woman, identified as Helen, accused…