Nigeria Records 253.09BCF Of Natural Gas In January – NNPC   A total of 253.09 Billion Cubic Feet (BCF) of natural gas was produced in January 2020 translating to an average daily production of 8164.23 Million Standard Cubic Feet per Day (mmscfd). The Nigerian National Petroleum Corporation...

Nigeria Cuts Oil Exports To Meet OPEC Deal     Nigeria has revised down its crude oil export programme for May and June to align itself with a global production cut deal led by the Organisation of Petroleum Exporting Countries, loading programmes showed. OPEC and its allies agreed...

Nigeria’s Brent Crude Drops To $19.71/b, Lowest In 18yrs   The turmoil in the international oil market worsened significantly yesterday as the Brent crude, the international and Nigeria’s benchmark, dipped significantly by nearly $12 per barrel to ebb at $19.71 per barrel, the lowest price it...

COVID-19: Nigeria, South Africa, Others Lose $4.2bn, IMF Says   The COVID-19 pandemic has resulted in the largest capital outflow from sub-Saharan Africa with over $4.2bn leaving the region from the end of February. The International Monetary Fund disclosed this in its latest Regional Economic Outlook for...

Nigeria’s Economy Will Decline By 3.4% - IMF     The International Monetary Fund on Tuesday said the recession caused by the COVID-19 pandemic would be the worst economic downturn witnessed since the Great Depression. According to the IMF, Nigeria’s economy will contract by 3.4 per cent in...

In Nine Years, Shell’s Gas Flare In Nigeria Drops By 80% - Report   International oil company, Shell has said its flaring of gas from oil fields in Nigeria dropped by 80 per cent between 2010 and 2019. It stated this in its 2019 Sustainability Report where...