Nigeria Rebalances OPEC Quota Compliance, Cuts Output By 7%       Nigeria has been forced to rebalance its oil output, effecting about 7.0 percent cut back on its oil output to re-align with the quota imposed by the Organisation of Petroleum Exporting Countries, OPEC. The nation’s output in...

Oil Rises Above $53, OPEC+ Agrees On Output Rollover         The international oil benchmark, Brent crude, surged above $53 per barrel on Tuesday as the Organisation of the Exporting Countries and its allies agreed to hold production steady in the face of new coronavirus lockdowns. Brent, against...

Nigeria Risks Losing 38% Deepwater Oil Output 2025 - Operators         The fiscal terms in the current Petroleum Industry Bill may lead to a 38 per cent reduction in Nigeria’s deepwater oil production in 2025, an industry group comprising international and indigenous oil firms in the...

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, Others Cut Oil Output To 30-year Low     Nigeria and other members of the Organisation of Petroleum Exporting Countries slashed their combined crude output in June to a three-decade low, according to an S&P Global Platts survey. The 13-member group pumped 22.31 million barrels per day,...

OPEC: Nigeria Records Largest Oil Output Drop In December   Nigeria, Africa’s top oil producer, recorded the largest production drop of 80,000 barrels per day in the Organisation of Petroleum Exporting Countries last month. The country exported less crude oil in December, according to ship-tracking data and...