Crude Oil: Bonny Light Loses All 2022 Gains   Nigeria’s Bonny Light grade crude oil lost all its gains in 2022 after trading at $81.94 per barrel at the end of 2022, a drop of 8.26 percent from the $88.71 per barrel it traded in January...

Nigeria’s Bonny Light Hits $100/barrel On Russian Ban   The price of Nigeria’s Bonny Light, yesterday, surged to $100 per barrel, from $98 per barrel recorded last Monday, due mainly to speculation occasioned by the European Union, EU ban on Russian oil. The oil price, the highest...

Fed Govt To Re-open 180,000bpd Pipeline Shut In April   The Federal Government is set to re-open the Trans Niger Pipeline that transports about 180,000 barrels of crude oil daily. The pipeline was shut down six months ago due to vandalism and theft on the oil...

Nigeria’s Oil Output Drops By 23.8% To 1.024m bpd — OPEC   Nigeria’s oil output dropped Year-on-Year, YoY, by 23.8 per cent to 1.024 million barrels per day, mbpd, in May 2022, from 1.344 mbpd recorded in the corresponding period of 2021, according to the Organisation...

Nigeria’s Petrol Price Stabilises     The price of Nigeria’s Bonny Light hovered at $67.69 per barrel, indicating that the government would not be under pressure to generate funds for its 2021 budget, which was based on $40 and 1.8 million barrels per day, mb/d, including Condensate. However,...

Oil Woes, As Bonny Light Drops By 34.8% In 11 Months         The average price of Bonny Light, Nigeria’s premium oil grade, has dropped by 34.8 percent to $42.9 per barrel in the past 11 months of 2020, due mainly to the prolonged Coronavirus pandemic, drop...