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. 

OPEC: Oil Output Reaches 6 Month Low, Nigeria's Revenue At Risk The latest data from the Organisation of the Petroleum Exporting Countries (OPEC) states that Nigeria’s oil revenue is under threat after crude oil production plummeted to 1.32 million barrels per day (mbpd) in February. This...

OPEC: Oil Output Reaches 6 Month Low, Nigeria's Revenue At Risk The latest data from the Organisation of the Petroleum Exporting Countries (OPEC) states that Nigeria’s oil revenue is under threat after crude oil production plummeted to 1.32 million barrels per day (mbpd) in February. This...

Four Weeks After Production Take-off, Marketers Await Dangote Fuel   Oil marketers, on Monday, declared that they were still awaiting the supply of refined petroleum products from the $20bn Dangote Petroleum Refinery, four weeks after the launch of production at the multi-billion dollar plant. On January 12,...

FG Targets 1.7mbpd Crude As November Output Declines   The Federal Government, on Tuesday, declared that Nigeria would meet and surpass the 2024 crude oil budget benchmark of 1.7 million barrels per barrel despite the marginal decline in oil output in November 2023. Latest figures released by...