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...

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...