OPEC
13 Nov
The Organisation of Petroleum Exporting Countries (OPEC) yesterday lowered the demand forecast for crude oil amid tumbling prices as Nigeria pumped 1.4 million barrels of oil per day in October.
15 Oct
Organisation of Petroleum Exporting Countries (OPEC) has said Nigeria’s average daily crude oil production dropped by as much as 33,000 barrels to 1.32 million barrels per day (bpd) in September.
14 Oct
The recent growth of Nigeria’s foreign reserves has come to many as some form of cheery news.
8 Oct
Oil prices continued to rise, yesterday, with Brent approaching the $80 mark, building on last week’s sharpest increase since early 2023.
3 Oct
Petroleum product prices may rise significantly at filling stations in the coming weeks due to an increase in global oil prices following Iran’s recent attack on Israel.
11 Sep
Brent crude oil price has dropped below $70 per barrel for the first time since December 2021.
5 Sep
Amidst the confusion and anger currently trailing the unofficial increase in the price of petrol, it remains sad and unacceptable that Nigerians are subjected to agonising experiences at filling stations, spending hours, even days, in fuel queues, and sometimes returning home without getting the product to buy.
14 Aug
African Refiners and Distributors Association (ARDA), yesterday, said the continent must urgently harmonise sulfur content in petroleum products as sulfuric content in premium motor spirit (PMS) and diesel peaks at 10,000 parts per million (ppm) as against 10 ppm in developed countries.
13 Aug
There are conflicting figures of crude oil production in Nigeria for the month of July as the Organisation of Petroleum Exporting Countries (OPEC), yesterday, pegged the country’s output at 1.3 million barrels per day (bpd) against the 1.61 million bpd declared by the Nigerian Upstream Petroleum Regularly Commission (NUPRC).
6 Jun 2024
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have set Nigeria’s crude oil production quota at 1.5 million barrels per day (mbpd) until December 2025. According to a report from CSL research, OPEC+ set the oil production quota for the country following a meeting held on June 2, 2024. CSL added that…
5 Jun 2024
The country’s oil production in May increased by 50,000 barrels per day (bpd) to lift the output of the Organisation of Petroleum Exporting
4 Jun 2024
Nigeria’s oil production in May increased by 50,000 per day (bpd) to lift the output of the Organisation of Petroleum Exporting Countries (OPEC) to 26.63 million bpd. Nigeria and Iraq both pumped 50,000 bpd above their April production as OPEC output increased by 145,000 bpd in May alone. Ahead of official data from OPEC, a…
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