With $139m Global Oil Price, Subsidy Payments Threaten Nigeria's Stability
As oil prices soar to record levels, many Nigerians, ordinarily, would expect that their country would be raking in billions of dollars and realising accretion in external reserves, as was the case in the past,...
NNPC Vows To Increase Production As Brent Crosses $105/barrel
Brent, the crude against which Nigeria’s oil is priced, crossed the $105/barrel price on Tuesday, as it rose to the highest price ever recorded since about 14 years following the ongoing war in Ukraine after it...
Increasing concerns about Russia attacking Ukraine yesterday sent oil prices to their highest level in over seven years.
The price of Brent crude increased by 55 cents to $94.99 a barrel after hitting its highest level since October 2014 at $96.16.
U.S. West Texas Intermediate (WTI)...
The Nigerian National Petroleum Corporation (NNPC) Limited reported earnings of $224.29 million (about N93.424 billion) from crude oil and gas exports in August, 2021, as compared with $191.26 million (N79.7 billion) in July, 2021.
A breakdown of the figures captured in the August, 2021, NNPC...
Oil Revenue Plunges As Nigeria Misses OPEC Output Target
Nigeria missed its crude oil output target for January 2022, pumping 1.46 million barrels per day against a target of 1.683 million bpd as approved by the Organisation of Petroleum Exporting Countries.
Officials of the Federal Ministry...
Nigeria’s Daily Oil Production Falls Below 1.2m Barrels
Crude oil production in Nigeria fell below 1.2 million barrels per day in December 2021 from 1.28 million bpd in the previous month, according to the Organization of the Petroleum Exporting Countries.
The country produced 1.197 million bpd...
