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...

Report Reveals Nigeria’s 2mbpd Oil Plan May Cause Showdown With OPEC   A recent report by Bloomberg suggests that Nigeria's ambitious plan to boost crude oil production to 2.062 million barrels per day may put it at odds with the Organization of the Petroleum Exporting Countries (OPEC)....

Dangote Refinery Targets 650,000bpd Production by June The Dangote Petroleum Refinery is set to ramp up its crude oil imports due to inadequate supply from the Nigerian National Petroleum Company Limited (NNPC) which is struggling to meet the refinery's fuel production needs at its $20...

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...

OPEC Pegs Nigeria’s Crude Oil Production Quota for 2025 at 1.5mbpd The Joint Ministerial Monitoring Committee (JMMC) of the Organisation of Petroleum Exporting Countries and its allies (OPEC+) has pegged Nigeria’s crude oil production quota for 2024 at 1.5 million barrels daily. This was disclosed in...

Nigeria, Africa's largest oil producer, may not reap a windfall from the recent rise in oil prices at $100 per barrel.