PIA’ll Boost Nigeria’s Oil Production By 317% To 4m bpd — FG   The Federal Government has said that the implementation of the newly enacted Petroleum Industry Act (PIA) will boost the oil production capacity of Nigeria by about 317 percent to four million barrels per...

Nigeria Lost N221.64bn In July To Oil Production Stoppages – NNPC   A total of 7,193,520 barrels of crude oil was lost in July this year due to about 39 production shut-in incidents, latest figures released by the Nigerian National Petroleum Corporation showed. An analysis of the...

Nigeria’s Oil Production Drops To 1.24m bpd – Report       Nigeria’s crude oil production plunged to a record low of 1.24 million barrels per day last month as a result of lingering disruptions, S&P Global Platts reported on Wednesday. The report quoted industry and ministry sources as...

OPEC+ Maintains 400,000bpd Monthly Oil Output Increase       The Organisation of the Petroleum Exporting Countries and its allies, on Wednesday, agreed to stick to their existing plan for gradual monthly oil production increases. OPEC and non-OPEC ministers ratified the 400,000 barrel-per-day supply hike scheduled for October after...

COVID-19, Power Failure, Others Stall N88.76bn Oil Production - NNPC       COVID-19 outbreak, Power failure and production shut-in at various crude oil terminals prevented the production of 3.31 million barrels of oil valued at about N88.76bn in one month. Updates on key setbacks that affected oil production...

NNPC Sells N267bn Crude Oil, Maintains 1.42m bpd Output       The Nigerian National Petroleum Corporation (NNPC) sold crude oil worth N267.59 billion in February, while its total daily production stood at 1.42 million barrels per day in the first quarter of 2021, a document presented to...