NNPC Sells N267bn Crude Oil, Maintains 1.42m bpd Output
The Nigerian National Petroleum Corporation (NNPC) sold crude oil worth N267.59 billion in February, while its total daily production stood at 1.42 million barrels per day in the first quarter of 2021, a document presented to...
Rising Oil Price Puts More Pressure on NNPC’s Finances
Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demand in key markets, thereby piling more pressure on the ability of the Nigerian National Petroleum Corporation (NNPC)...
Refineries Record N5.4bn Deficit, As NNPC Lifts $407.15m Crude
Amidst controversy over the state of the nation’s refineries the latest report of the Nigerian National Petroleum Corporation, NNPC, has indicated that Nigeria’s three refineries guzzled a total of N5.86 billion in overhead expenses on zero...
Oil Price Gains For Fifth Consecutive Month
The average global crude oil prices have continued to rise for the fifth consecutive month, the Organisation of the Petroleum Exporting Countries said on Tuesday.
OPEC attributed the continued rise in international oil prices to the supportive oil market...
OPEC+ To Lower Oil Demand Forecast Amid COVID-19 Uncertainty
The Organisation of Petroleum Exporting Countries and its allies have agreed to lower the forecast that oil demand would grow by 5.9 million barrels per day this year.
A panel of OPEC+ technical experts agreed to revise...
Nigeria’s Daily Oil Production Rises To 1.42m Barrels
Nigeria increased its crude oil production to 1.42 million barrels per day in February, the latest monthly report of the Organisation of the Petroleum Exporting Countries has shown.
The country recorded the biggest increase in crude oil production...
