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...
The Minister of State Petroleum Resources, Timipre Sylva, on Monday, expressed optimism that Nigeria would meet the Organisation of Petroleum Exporting Countries (OPEC) crude oil production...
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 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 Organization of the Petroleum Exporting Countries (OPEC+) announced members of the oil group, comprising Nigeria, have agreed to cut down global crude oil production output,...
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...
As Nigeria continues to struggle with oil theft, Chief Timipre Sylva, Minister of State for Petroleum Resources, has disclosed that there are over 265 illegal refineries...
The Organisation of the Petroleum Exporting Countries (OPEC) said on Thursday Nigeria’s crude oil production increased to an average of 1.183 million barrels per day (bpd)...
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...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the...
Group Chief Executive Officer of Oando Plc, Wale Tinubu, has said 20% of oil production is lost to oil theft, reflecting Nigerian government’s inability to prevent...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the...
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...
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the...
The Organisation of the Petroleum Exporting Countries (OPEC) has raised Nigeria’s oil production quota for July to 1.799 million barrels per day (mbpd). The new target...
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...
For the fourth time this year, Nigeria again failed to meet the oil production quota allocated to member countries by the Organisation of Petroleum Exporting Countries...
The number of total active oil drilling rigs in Nigeria improved slightly in March 2022 to 10 from 8 recorded in February 2022. The new development...
Oil prices fell more than 5% on Monday to the lowest in nearly two weeks following the announcement from the United States government that it will...
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples closed Wednesday trade $110.46 per barrel. OPEC Secretariat calculations...
Nigeria’s crude oil grade, Bonny Light is trading at $116.1 per barrel the second most expensive in the international crude oil market. Nigeria’s crude oil price...
The Organisation of Petroleum Exporting Countries (OPEC)has increased Nigeria’s oil production capacity to 1.735 million barrels in April 2022, if possible. This is according to data...
Nigeria’s hope of escaping its financial woes is far from close, as once again, the Organisation of Petroleum Exporting Countries (OPEC) has ranked the country among...
The Organisation of Petroleum Exporting Countries (OPEC) said on Thursday Nigeria’s crude oil production reached an average of 1.398 million barrels per day in January. OPEC...
OPEC and non-OPEC members on Wednesday agreed to increase the oil production quota by 400,000 (0.4 million) barrels per day. This decision was reached at the...
Nigeria will be losing over N14.9 billion daily as international oil price crossed above $90 a barrel on Wednesday. Data from Reuters revealed that Brent, the...
The Nigeria Labour Congress (NLC) on Monday pledged to vehemently oppose the planned increment in fuel prices by the Federal Government. This was disclosed by the...
Libya has eclipsed Nigeria as Africa’s largest oil producer following a recent drop in the West African nation production, the Organization of the Petroleum Exporting Countries...
For a country hit by a revenue and FX shortfall, the Nigerian government continues to miss out on gains of rising oil prices as oil production...
The Organisation of the Petroleum Exporting Countries (OPEC) said Africa would reduce dependence on oil importation as it strives to meet the projected production output for...
The Organisation of Petroleum Exporting Countries (OPEC) on Tuesday commended President Muhammadu Buhari and the National Assembly on the passage of the Petroleum Industry Bill (PIB)....
The price of oil has hit a 30-month high following a positive demand outlook by the Organization of the Petroleum Exporting Countries (OPEC). The price of...
The Organisation of Petroleum Exporting Countries (OPEC) is set to boost production level amid increasing cases of COVID-19 which threatens the recovery of oil price which...
Crude oil has crashed to just above $60 per barrel as it struggles to find its feet again. Brent, against which Nigeria’s crude oil is priced,...
Crude oil prices fell on Monday evening after pushing above $70 a barrel in the early hours, as dust from Saudi Arabia attacks settled. In the...
Crude oil price opened the week on Monday trading at $70 per barrel more than two percent it traded on Friday following reports of attacks on...
The Organisation of Petroleum Exporting Countries (OPEC) on Thursday commended Nigeria for achieving full conformity with the oil production cut in January. OPEC gave the commendation...
The Organisation of the Petroleum Exporting Countries Plus (OPEC+) will consider loosening the grip on crude oil price as it skyrockets to its highest in a...
The House of Representatives and the Ministry of Finance on Tuesday, February 16, had a mild disagreement over the processes involved regarding the payment of the...
The international oil benchmark, Brent crude, rose further on Thursday, trading near $59 per barrel according to data from Oilprice.com. As at 11.00am Nigeria time, data...
The World Bank said on Tuesday a weak fiscal base, poor investments and a host of other factors would speed up a subdued growth in the...
Oil prices were mixed on Tuesday as an impasse in output talks between key crude producers regarding changes to February supply forced the Organisation of the...
Oil prices hit their highs in many months on Monday amid hopes that the Organisation of the Petroleum Exporting Countries (OPEC) and allies will limit supply...
Oil prices climbed on Tuesday, the third time in four trading sessions, on hopes of fuel demand recovery, as the U.S. drew closer to expanding its...
Nigeria has enjoined the Organisation of the Petroleum Exporting Countries (OPEC) to rethink the consequences of deep production cuts on member countries as OPEC and allies...
Global oil demand will scale up by 6.2 million barrels per day (mbpd) per day next year as national economies gradually find recovery from the headwinds...
Oil prices moved up a little on Friday as they approached their third week of appreciation. However, fears of demand slump due to escalating COVID-19 infections...
Oil prices advanced further on Wednesday amidst optimism that the Organisation of the Petroleum Exporting Countries (OPEC) and allies will slow down a proposed hike in...
Saudi Arabia’s Energy Minister, Abdelaziz bin Salman, said on Tuesday the major oil countries might have to adapt their current production strategy in the face of...
