Nigeria Oil Production Slumped To 1.08mbpd July - OPEC   Nigeria maintained 14 functional oil production rigs in July, after recording the same number of rig count/units in the preceding month of June 2023, latest data on World Rig Count and Units released by the Organisation...

How Nigeria Lost N249bn In July Due To Oil Output Shortage   Nigeria lost about N249bn crude oil revenue in July following a plunge in the country’s oil output by over four million barrels in the same month, latest oil production data seen on Sunday showed Data...

Saudi Arabia: From Oil Dependency to Global Hub of Opportunities, by MU Abubakar   In a bold and transformative move, the Kingdom of Saudi Arabia is rapidly redefining its societal and economic landscape through its Vision 2030 initiative. Rooted in the aspiration to diversify the country's economy...

First Oil From 2020 Marginal Field Bid Underway - NUPRC   Some of 2020 marginal field bid round investors are on the stage of striking their first oil. It would be recalled that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) concluded the bid mid-last year. Chief Executive Officer,...

Oil Products Import Decline To N1.87trn In Q4, 2022   The National Bureau of Statistics (NBS) has said oil products imports dipped from N2.29trillion in the third quarter to N1.87 trillion in fourth quarter of last year. This was contained in a document that The Economic Confidential...

Nigeria’s Oil And Revenue Now $742.48bn - NEITI   The Nigeria Extractive Industries Transparency Initiative (NEITI) has said the Federal Government has earned $741.48billion revenue from the oil and gas sector. The earnings, according to the Executive Secretary Dr. Orji Ogbonnaya Orji, do not include the ones...