Africa is set to add 1.2 million barrels per day (bpd) of new refining capacity by 2030, marking one of the fastest downstream expansions globally, according to the newly released 2025 OPEC World Oil Outlook.

Price Drop Threatens Nigeria's Capital Projects Despite OPEC Quota Compliance   The Federal Government’s ability to meet up with its targeted revenue of N41trn to foot the 2025 budget is becoming a tall order with the instability in the global price of oil. This is even as...

Lokpobiri Reassures Commitment to OPEC Despite Rising Oil Output The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured that Nigeria remains fully committed to the rules of the Organisation of Petroleum Exporting Countries despite recent gains in crude oil output. Lokpobiri said...

According to a report by the Organisation of the Petroleum Exporting Countries (OPEC), Nigeria’s average daily crude production rose to 1,507,000 barrels per day in July,

Again, Nigeria’s Crude Exceeds OPEC's Target, Hits 1.5mbpd in July Nigeria’s average daily crude oil production rose to 1.507 million barrels per day (bpd) in July 2025. According to the Organization of the Petroleum Exporting Countries’ (OPEC) latest Monthly Oil Market Report. This means that the country...

The Nigerian National Petroleum Company (NNPC) Limited has reported a sharp decline in oil revenues in June, falling to the lowest point in three months as global crude prices remain unstable.