Fed Govt Reopens Shut Oil Wells, Projects N29trn Annual Revenue
The Federal Government is reviving shut-in crude oil wells in a bid to produce about 2.1 million barrels of oil daily, with an estimated worth of N2.4tn monthly, from various drilling facilities in the Niger...
In Three Months, Oil Earnings Increase By N363bn
Nigeria is making progress in oil earnings following improvements in security in the Niger Delta region, as the country raked in an additional N363bn from crude oil sale in the months of October, November and December 2022.
Figures...
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...
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...
