Nigeria's Crude Oil Reserves Now 37.28bn Barrels - NUPRC   The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared the country’s official petroleum reserves position, revealing a staggering 37.28 billion barrels of crude oil and condensate, alongside an eye-popping 210.54 trillion cubic feet of natural gas. This...

NUPRC Announces The Increase of 1.087bn Barrels to Nigeria’s Crude Oil Reserves The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday formally announced a rise in Nigeria’s hydrocarbons’ reserves as of January 1, 2024, with the country’s stock of crude oil jumping by 1.087 billion barrels...

Dangote Refinery Secures 1m Barrels of Crude Oil, Set to Commence Operation The Dangote Oil Refining Company says its plant has received its maiden one million barrels of Agbami crude grade, from the Shell International Trading and Shipping Company Limited (STASCO). In a statement on Friday,...

Finance Minister: Low Oil Output Barely Enough to Cover Petrol Imports Low crude oil production means Nigeria is barely able to cover the cost of imported petrol from its oil and gas revenues, Finance Minister Zainab Ahmed told Reuters on Thursday. Ahmed added in an interview...

OPEC: Nigeria Loses N1.22tn To Deficit Oil Production The Organisation of Petroleum Exporting Countries (OPEC) says Nigeria lost about 22.658 million barrels of crude oil valued at N1.22tn in the first quarter of 2022. Economic Confidential reports that OPEC made this known in a series of...

Nigeria’s Oil Production Increases By 2.55m Barrels – OPEC   Crude oil production in Nigeria increased by about 2.55 million barrels in the month of November 2021, the Organisation of Petroleum Exporting Countries announced on Tuesday. According to OPEC, the country’s crude oil production rose by 85,000...