Nigeria Has Capacity to Produce 4mbpd of Oil - OPEC   According to Ademola Adeyemi-Bero, Chairman of the OPEC Board of Governors, Nigeria's abundant hydrocarbon reserves should enable the country to produce up to four million barrels of oil per day, a significant increase from its current output. Adeyemi-Bero...

Nigeria's Oil Production Surges Past 1.5mbpd, Exceeds OPEC Quota   According to a recent report by the Nigerian Upstream Petroleum Regulatory Commission, Nigeria has successfully achieved its oil production quota as stipulated by the Organisation of the Petroleum Exporting Countries (OPEC). In January, Nigeria made real its focus...

Dangote Raises Petrol Price for Bulk Buyers to N955 per Litre Due to the sustained upward trend in the price of Brent crude, the global oil benchmark, Dangote Petroleum Refinery has notified its customers of a price increase for Premium Motor Spirit, commonly referred to...

Minister Says FG Not Responsible for Setting Fuel Prices The Minister of State Petroleum Resources, Heineken Lokpobiri, emphasized that fluctuations in petrol prices at the pump are largely driven by the volatile price of crude oil in the international market. He said the downstream sector is...

The Strategy Behind Nigeria's Oil Production Boost - Lokpobiri   Minister of State for Petroleum Resources, Heineken Lokpobiri, has revealed the Federal Government's strategy to attract foreign investors, resulting in a significant boost to Nigeria's oil production. From one million barrels per day in 2023, Lokpobiri stated...

FG Vows to Exceed OPEC Oil Production Quota in 2025 The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, has stated that the plan to produce 2.06 million barrels of crude oil per day in 2025 remains on course despite the 1.5mbpd oil production...