Oil Prices Could Hit $380 Per Barrel, JP Morgan Warns   The price of oil may rise to an all-time high of $380 per barrel if the United States and European sanctions lead Russia to reduce its crude supply in retaliation. This was disclosed by JPMorgan analysts...

13 Marginal Fields Dormant As FG Awards 57 To New Investors   The Federal Government on Tuesday revealed that 13 out of the 30 marginal fields awarded since 1999 were not producing crude oil, as only 17 of the fields were currently meeting the target of...

Despite The Rise In Crude, Nigeria’s Oil Revenue Dropped To N945bn   Despite the steady rise in crude oil price, the country’s earnings from the commodity dropped for the fourth month. This was contained in a Central Bank of Nigeria’s (CBN’s) latest monthly economic report for...

OPEC Boost Nigeria Crude Oil Quota to 1.799million Barrels Per Day The Organisation of Petroleum Exporting Countries (OPEC) has increased Nigeria's crude oil quota from 1.772million barrels per day for June 2022 to 1.799million barrels per day in July 2022. According to the World’s oil supply...

Cut In Russian Output Widens OPEC+ Supply Gap In March   The Organisation of Petroleum Exporting (OPEC+) produced 1.45 million barrels per day (bpd) below its production targets in March, a Reuters report has shown. The reduction in output was mostly on the back of Russian output...

'Nigeria’s Oil Production Crashed By 744,000 Barrels In March'   Nigeria’s crude oil production crashed by 744,000 barrels in March 2021 when compared to what the country produced in the preceding month of April, figures released on Tuesday by the Organisation of Petroleum Exporting Countries (OPEC)...