FG Woos Investors with $5.5bn Oil Asset Sale, 200,000bpd Production   The Federal Government has said recent divestments by International Oil Companies have added about 200,000 barrels per day to Nigeria’s crude production, boosting efforts to stabilise the sector. Minister of State for Petroleum Resources (Oil), Senator...

Security Investments Impacting Crude Production Costs - NNPC The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) Bayo Ojulari, has attributed the country’s high oil production cost to massive security investments aimed at safeguarding crude oil pipelines in the Niger Delta...

According to Johnson Chukwu, the Chief Executive Officer of Cowry Asset Management Limited, Nigeria needs to prioritise increasing crude production and tackling insecurity in the Niger Delta to ensure refineries get Feedstock. 

Libya, Angola Overtake Nigeria In Crude Production – OPEC   Nigeria’s oil production plunged to 972,000 barrels per day in August 2022, as Angola and Libya overtook Nigeria by producing higher volumes of crude during the review month, the Organisation of Petroleum Exporting Countries (OPEC) has...

Shell Oil Output Drops, Plans 9,000 Job Cuts       Shell said on Wednesday that volumes of both Liquefied Natural Gas and crude production were down in the third quarter. The oil major disclosed this in an update to the market, which also detailed plans to cut up...

Nigeria Faces Crude Production Decline As Oil Price Rises   The international oil benchmark, Brent crude, rose slightly on Thursday on the back of improving trade relations between the United States and China as well as rising tensions in the Middle East. Brent, against which Nigeria’s oil...