OPEC Raises Nigeria’s Oil Output As Saudi Arabia Cuts Production   Members and non-members of the Organisation of Petroleum Exporting Countries, referred to as OPEC+, on Sunday, agreed to cut crude oil production volumes in order to ensure global oil market stability, but allowed Nigeria, Congo...

OPEC, Allies Begin Fresh Oil Production Cuts May   The Organisation of Petroleum Exporting Countries and its allies, referred to as OPEC+, on Sunday, announced voluntary cuts to their production of crude oil, amounting to about 1.15 million barrels per day, calling it a “precautionary measure”...

Oil Production May Drop Over Fresh Pipeline Explosions   Nigeria’s oil production output may fall this month over a fresh pipeline explosion, according to findings by our correspondent. A fresh explosion was said to have rocked a major export pipeline in the Niger Delta, with about 12...

NNPCL Says Oil Production Now 1.6 Million Barrels Daily   The Nigerian National Petroleum Company Limited (NNPCL) on Monday, said Nigeria’s oil production had increased to 1.6 million barrels per day, a few millions short of the 1.8 million barrels per day quota allocated to Nigeria...

Nigeria’s Oil Production Rises By 1.9% To 1.258 mb/d — OPEC   Nigeria’s oil production has risen month-on-month, MoM, by 1.9 per cent to 1.258 million barrels per day, mb/d, in January 2023, from 1.235 mb/d recorded in December 2022. The figures excludes Condensate. The Organisation of...

Technical Problems Responsible For Oil Production Decline - World Bank   The World Bank has stated that technical problems, insecurity, rising production costs, theft, lack of payment discipline in joint ventures, etc. were responsible for the 40 per cent decline of Nigeria’s oil production last year. The...