Nigeria’s Oil Production Drops To 1.24m bpd – Report
Nigeria’s crude oil production plunged to a record low of 1.24 million barrels per day last month as a result of lingering disruptions, S&P Global Platts reported on Wednesday.
The report quoted industry and ministry sources as...
OPEC+ Maintains 400,000bpd Monthly Oil Output Increase
The Organisation of the Petroleum Exporting Countries and its allies, on Wednesday, agreed to stick to their existing plan for gradual monthly oil production increases.
OPEC and non-OPEC ministers ratified the 400,000 barrel-per-day supply hike scheduled for October after...
In Four Years, Nigeria Loses 2.5trn Oil Barrels
Nigeria has lost 4.5 trillion barrels of oil to theft in the last four years, according to data from the Nigeria Natural Resource Charter (NNRC).
Another data from the National Oil Spill Detection and Response Agency (NOSDRA) showed...
Refineries Record 13-month Loss Of N104.3bn - NNPC
A total loss of N104.3bn was recorded by Nigeria’s refineries in 13 months, even as the facilities refined no crude oil throughout the period, the latest report released by the Nigerian National Petroleum Corporation showed.
An analysis of...
Dangote Refinery, Others To Buy Crude In Naira According To PIB
Holders of refining licences in the country can pay for domestic crude oil supply in naira, according to the Petroleum Industry Bill passed by the National Assembly on Thursday.
Companies holding refining licences include Dangote...
FG Targets $70m Profit From Crude Supply To Indonesia
The Nigerian National Petroleum Corporation (NNPC) through its subsidiary, Duke Oil, has sealed a pact to supply 30,000 barrels per day crude oil supply to Indonesia’s state oil corporation, Pertamina and Indian Oil Corporation.
The development, which...
