Oil: OPEC Production Climbs As Saudi Arabia Pumps More Crude oil production from the Organisation of Petroleum Exporting Countries increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met. The kingdom’s oil production grew...

Oil Reserves: Delay In Deepwater Projects Threatens Target   The lack of final investment decisions on seven offshore deepwater oilfield projects in the country poses a threat to the country’s target of 40 billion barrels of crude oil reserves by 2020. The nation’s crude oil reserves fell...

N3.8trn Lost To Oil Theft In 2years – NNRC   The Nigeria Natural Resource Charter on Tuesday revealed findings of its latest report on crude oil theft and stated that the country lost about N3.8tn as a result of the menace two years ago, which was...

OPEC July Oil Output Rises, Hits 2018 Peak   OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found, although losses from Iran...

Oil: Ghana, Others To Import From Dangote’s Refinery Ahead of the completion of the Dangote Oil Refinery, petroleum importing African nations and bulk oil distributors based in Ghana have expressed eagerness to patronise the Nigerian plant when production starts. The oil buyers said arrangements had been...

NNPC, Nigeria’s Oil Behemoth Records 3years N547bn Losses   It’s meant to be a cash cow, but the state oil company of Africa’s biggest producer is bleeding money. The Nigerian National Petroleum Corporation, the Abuja-based behemoth that dominates Nigeria’s energy industry, has recorded losses for at least...