OPEC
11 hours ago
National oil companies in Africa, financiers and global players, yesterday in Cape Town, South Africa moved to unlock barriers to existing oil and gas projects across the continent amid a $1.5 trillion investment portfolio.
12 Apr
Nigeria’s crude oil production plummeted further to a 2024 low in March as the country’s output stood at 1.2 million barrels per day (bpd) according to the Organisation of Petroleum Exporting Countries (OPEC).
10 Apr
Nigeria may face critical economic challenges, as some stakeholders are projecting a $100 per barrel oil price following the move by the Organisation of Petroleum Exporting Countries (OPEC) and geopolitical tensions in the Middle East.
26 Mar
Nigeria’s manufacturers and businesses struggling due to the lingering energy crisis may have more to worry about, as oil price, yesterday, soared to $87.16 per barrel.
14 Mar
The continuous drop in Nigeria’s oil production is spelling serious doom and raising concerns among stakeholders over the 2024 budget, which relies heavily on crude oil revenue.
6 Mar
Nigeria’s population has been projected to more than double in the coming decade. This development is expected to among other implications escalate energy demand and increase pressure on revenue.
29 Feb
Nigeria, yesterday, said about $17.64 billion worth of oil field development plan was approved last year to deliver oil and gas recovery estimated at 2.12 billion barrels and 13.13 trillion cubic feet respectively in the next five years.
14 Feb
Nigeria's oil production slightly dropped to 1.419 million barrels per day in January against the 1.422 million figure for December, Organisation of Petroleum Exporting Countries (OPEC) confirmed yesterday.
7 Jan
The Organisation of the Petroleum Exporting Countries (OPEC) has applauded Nigeria’s economic growth in the third quarter of 2023 which it said “exceeded expectations” on strong activities in the non-oil sectors.
21 Dec
Angola said on Thursday it would leave OPEC over a disagreement on production quotas following the oil cartel's decision last month to further slash output next year. Mineral Resources and Petroleum Minister Diamantino Azevedo said that the decision was not taken lightly, but OPEC membership no longer served the African country's interests. "Angola has decided…
18 Dec
For climate activists who were locked in intense lobby to push for specific deadline on phasing out fossil fuel at COP28, it was a matter of life and death, but not for our bureaucrats who do not care whether heavens fall. For us, it’s all about consumption, corruption and rapacious greed.
Latest
15 mins ago
Lagos State Commissioner for Basic and Secondary Education, Mr. Jamiu Alli-Balogun, on Thursday, said the government has shut down 12 private schools for safety infractions and illegal operations. Speaking at the ongoing annual ministerial press briefing to mark the first year of the second term of Governor Babajide Sanwo-Olu, Alli-Balogun, said the decision was to…
21 mins ago
A Nigerian coach is in line to be named as the new helmsman of the Super Eagles as the Nigeria Football Federation (NFF) are poised to announce the new head coach, bringing an end to weeks of speculation and discussion regarding the replacement for Jose Peseiro. The NFF's decision-making process involved a deliberation on whether…
33 mins ago
Senator Ayogu Eze, a former lawmaker who represented Enugu North Senatorial District between 2007 to 2015, is dead. The former senator who was a founding member of the People's Democratic Party (PDP) died in an Abuja Hospital after a protracted illness. Born in 1958, Eze died at 66. Although the cause of his death was…
49 mins ago
New York's highest court on Thursday overturned disgraced Hollywood producer Harvey Weinstein's 2020 conviction on sex crime charges and ordered a new trial.
2 hours ago
Sweden will next year contribute a reduced battalion to NATO forces in Latvia to help support the Baltic state following Russia's invasion of Ukraine, Prime Minister Ulf Kristersson said Thursday.
2 hours ago
At least 155 people have died in Tanzania as torrential rains linked to El Nino triggered flooding and landslides, Prime Minister Kassim Majaliwa said Thursday.
3 hours ago
Dana Air has announced that it is processing refunds for flights affected after it was suspended by the Nigeria Civil Aviation Authority (NCAA). The Minister of Aviation and Aerospace Development Festus Keyamo directed the NCAA to suspend the airline to conduct a safety and financial audit following a runway incursion incident involving one of the…
3 hours ago
Turkey's central bank held its key interest rate steady on Thursday but warned it could hike it again as the country's soaring inflation remains a headache for President Recep Tayyip Erdogan's government. The central bank's monetary policy committee decided to keep the policy rate at 50 percent. But it left the door open to raising…
3 hours ago
Renowned rapper Kanye West, who legally changed his name to 'Ye' in 2021, is reportedly planning to venture into the adult film industry. According to sources, Ye is planning to set up his own studio, marking his entry as a producer in the adult film industry. A representative for Ye has reportedly told TMZ that…