Assessing Nigeria’s Benefits From Oil Price Rally   While the recent appreciation in crude oil price has provided Nigeria an opportunity to earn more revenue from oil sales, the country equally spends a considerable amount of that on importing petroleum as well as on subsidy payment,...

Crude Oil Demand To Hit 100 mbpd Sooner Than Projected - Barkindo The Secretary-General, Organisation of the Petroleum Exporting Countries (OPEC), Mohammad Barkindo, predicts that world oil consumption will reach 100 million barrels per day (bpd) later this year, hitting that level much sooner than...

Oil Production In June Drops To 1.89b/d – FG   Nigeria’s crude oil and condensate production has remained far lower than projected in the 2018 budget for the last two months, data released by the country’s petroleum ministry has shown. The ministry in its latest Periscope Newsletter...

Oil Earnings Hit $13.5bn In Q1   Nigeria’s earnings from crude oil and gas, which accounted for 93.3 per cent of total export earnings during the review period, increased by 10.1 per cent to $13.426.53 billion in the first quarter of 2018 when compared with the...

Crude Oil Metering, Baker Hughes Partners TREXM   Baker Hughes, a GE company, in partnership with a local firm, TREXM Oil and Gas Services, has unveiled the latest innovative metering solution in the Nigerian market to help players in the oil and gas sector cut costs,...

Crude Oil: Kachikwu Commends DPR On Digital Accounting   The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has commended the Department of Petroleum Resources for the digital technological breakthrough in crude oil accounting through the deployment of the National Production Monitoring System platform. Kachikwu, who...