Oil Earnings Rise By N308.6bn In Two Months   Nigeria’s crude oil earnings rose by about N308.6bn within two months following the recent increase in the country’s oil output due to concerted efforts by the Nigerian National Petroleum Company Limited (NNPCL) and security agencies to halt...

Nigeria’s Oil Production Rises To 1.6m Barrels     Nigeria’s crude oil production is recovering, climbing right back to about 1.6 million barrels. Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, Bala Wunti, said this at the 11th Practical Nigerian Content forum in Uyo, Akwa-Ibom state on...

Oil Price Gains 2%, Rises To $85/Barrel   The global benchmark for crude oil, Brent Crude, has risen by 2.5 per cent and traded above $85 on Tuesday as a result of expectations that China might ease its COVID-19 restrictions. Oil market updates by oilprice.com showed that...

OPEC List: Nigeria Drops to 7th Position Fresh data from the Organization of Petroleum Exporting Countries, OPEC’s monthly oil market report for November has shown that Nigeria has dropped to the seventh position from the fifth position in September 2022. Recently, Nigeria has been facing a...

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...

We’ve Lost Our Most-valued Crude Oil Customers – FG Nigeria has lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market, the Federal Government declared on Thursday. It also stated that international oil companies...