The Federal Government revealed on Wednesday that Nigeria’s oil production is currently roughly one million barrels per day below its technically permissible potential. It blamed problems...
Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “set up a presidential panel of enquiry to promptly probe the grim allegations that...
The recent increase in oil production is set to be significantly hit as Exxon Mobil has declared force majeure on oil lifting from different terminals in...
Nigeria lost a staggering 619.7 million barrels of crude oil, worth N16.25 trillion ($46.16 billion), due to crude oil theft between 2009 and 2020. The Nigerian...
The Organisation of the Petroleum Exporting Countries and its allies, OPEC+ which includes Saudi Arabia, Iraq and several Gulf states have announced a surprise oil production...
The National Bureau of Statistics (NBS) has revealed that Nigeria made N21 trillion from the sale of crude oil in 2022. The oil sales recorded is...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has laid down new regulations aimed at measuring how crude oil is to be measured in the country as...
Oil-producing states in Nigeria received a total of N1.5 trillion as 13 percent derivation funds between 2021 and 2022. Data released by the Federal Account Allocation...
The Organisation of Petroleum Exporting Countries (OPEC) has revealed that Nigeria ended 2022 as Africa’s largest oil producer. According to OPEC, Nigeria in the month of...
Crude oil production in Nigeria fell by -11.6 per cent (or 163,000 barrels per day) last year to 1.235 million barrels per day (mbpd) in December...
Nigerian National Petroleum Company (NNPC) Limited has denied claims that it exported $1 billion crude oil without records in four years. Ripples Nigeria had reported two...
The global crude oil price has continued to hover around $75 to $84 per barrel in the last few weeks and experts believe it could drop...
Shell Petroleum Development Company of Nigeria Ltd (SPDC) will pay over $16 million (N7.14bn) to communities in Niger Delta states that were affected by multiple oil...
The International Monetary Fund (IMF) has warned oil exporting countries in Africa to save earnings from the boom in crude oil price, as transition to low-carbon...
The Central Bank of Nigeria (CBN) has revealed that the Federal Government’s earnings from crude oil and gas exports increased by $40.86billion (about N18.18 trillion) in...
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that Nigeria lost 619.7 million barrels of crude oil worth $46.16 billion or N16.25 trillion in 12...
The Organization of Petroleum Exporting Countries (OPEC) has revealed that Nigeria has regained its status as Africa’s leading oil producer. OPEC in its Oil Market Report...
About 700,00 barrels of crude oil are lost per day to oil theft in Nigeria, the Chief Upstream Investment Officer at the NNPC Upstream Investment Management...
Crash in crude oil export has decreased Nigeria’s earnings from trade export down by 9.7 per cent in the third quarter of 2022, with Spain leading...
The Organization of Petroleum Exporting Countries (OPEC) has revealed that Nigeria’s oil rig count has increased. A rig count reflects the amount of exploration, development, and...
The Organisation of Petroleum Exporting Countries (OPEC) has placed Nigeria as the fourth oil producing country in Africa. Like in previous months, OPEC revealed that Angola,...
The government of Equatorial Guinea says it has recovered a vessel suspected of being engaged in illegal crude export, and handed same over to the Nigerian...
In an effort to stop the ongoing vandalism of the assets, the Federal Government conducted a workshop on Thursday to set up a framework for the...
Minister of State for Petroleum Resources, Chief Timipre Sylva, on Saturday, disclosed that the country loses at least 700,000 barrels of crude oil to thieves every...
The former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido, on Saturday demanded the disbandment of the Nigerian National Petroleum Company Limited (NNPC). Sanusi...
The Group General Manager, National Petroleum Investment Management Services (NAPIMS) of the Nigerian National Petroleum Company (NNPC) Limited, Bala Wunti, said works are ongoing to recover...
The United States government has expressed disappointment in the decision of the Organisation of the Petroleum Exporting Countries Plus (OPEC+) to cut production output. Ripples Nigeria...
The National Bureau of Statistics (NBS) has revealed that Nigeria earned N11.53 trillion from the export of crude oil in the first half of 2022. This...
Brent, the global benchmark for crude oil is now trading below $90 after hitting a record high in recent months. Industry figures seen in the early...
Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to...
For the third time in eight months, Nigeria is not Africa’s largest oil producer as production fell to 972,394 barrels per day in August. This was...
The Nigerian National Petroleum Company (NNPC) has failed to sell enough crude oil to offset its petrol subsidy debt to oil marketers in Nigeria. Data obtained...
The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has said Nigerians are behind the vandalism of oil pipeline in...
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has launched an application for the monitoring of crude oil theft and pipeline vandalism. The cooperation launched the...
Hello, and welcome to the Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to...
Brent and the West Texas Intermediate (WTI) crude oil fell Tuesday evening, as the Organization of Petroleum Exporting Countries (OPEC) projected slow growth in demand for...
American company, Citigroup, has released a crude oil forecast that contradicts that of Goldman Sachs, with the former stating that the commodity will fall to $65...
Oil price is expected to reach $200 after a group of rich nations under the aegis of the G7 announces a plan to cap the price...
Global crude oil price went down -0.68% as Russia and European Union readjust to the restriction placed on the former. On Thursday evening, oil price depreciated...
Oil price is currently trading bearish following a push by President Joe Biden to bring down soaring fuel costs in the United States. In the early...
Nigeria is no longer Africa’s top oil producer following an abysmal oil production output in May the biggest decline among its peers at a time oil...
Details have emerged on how the Dangote Petroleum Refinery and Petrochemicals (DPRP) will operate after completion. The project which is expected to begin operation in the...
Nigeria and Russia are some of the biggest beneficiaries of Indian refiners’ high appetite for non-European and Middle Eastern crude oil last month, according to Analyst...
A new survey by S&P Platts has shown Organization of the Petroleum Exporting Countries (OPEC+) members failed to meet May oil production targets, with Nigeria being...
The Organisation of Petroleum Exporting Countries (OPEC) has put Nigeria’s oil production output at 1.32 million barrels per day, bpd, for April 2022. OPEC revealed this...
The oil market was up on Wednesday, with Brent crude selling at $109.06 per barrel, a rate last seen a day before April ended, as the...
The Nigerian National Petroleum Company Limited (NNPC) has revealed that Nigeria in the first three months of 2022 recorded $565.5 million export sales of crude oil...
The Federal Government on Wednesday announced that the Port Harcourt Refinery would commence operations by the first quarter of 2023. The Minister of State for Petroleum...
Nigeria’s position as Africa’s largest oil producer is now seriously under threat at a time oil prices are averaging $100 per barrel. The Group Managing Director/CEO...
In July 2015, Nigerian President, Gen. Muhammadu Buhari, fresh from that year’s presidential election victory after three failed successive attempts visited the United States of America...
