OPEC Warns FG as Refining Capacity Crashes to 6,000b/d
The Petroleum Exporting Countries recent report has revealed that Nigeria's crude oil refining capacity has further reduced to just 6,000 barrels per day.
In its latest Annual Statistical Bulletin 2023, OPEC said the country’s capacity to refine...
Explainer: What you need to know about NNPC Ltd's $3 billion Emergency Crude Repayment Loan from Afrexim Bank
1. What is the $3 billion loan about?
The NNPC Ltd. secured an emergency $3 billion crude oil repayment loan from AFREXIM Bank. This is not a crude-for-refined...
NNPC Secures $3bn Afreximbank’s Loan To Stabilise Naira
The Nigerian National Petroleum Corporation (NNPC) Limited said it had secured a $3 billion crude repayment loan to halt the further slump of Naira against the Dollar at the foreign exchange market.
The company disclosed this on Wednesday...
Nigerian Govt To Sell Stakes In NNPC, 19 Entities
The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities.
This is according to a Bloomberg report. The Nigerian National Petroleum Corporation is among the firms the...
Nigeria’s Oil Production Falls 13.6% to 1.08mbpd in H1
Nigeria’s oil production in the month of July 2023 fell by 13.6 percent to an average of 1.08 million barrels per day compared to 1.25mbpd recorded in June, latest production data from the Nigerian Upstream Petroleum...
Naira Slump: Marketers Project Fuel Price Hike this Month
Oil marketers have warned on the possibility of another hike in petrol price this month due to fall of the naira against the United States dollar, coupled with the recent rise in global crude oil prices.
Although...
