Nigeria, Iraq Reduced Oil Exports Plunge OPEC Output The Organisation of Petroleum Exporting Countries, OPEC, saw a decrease in oil output due to Nigeria and Iraq's reduction in crude oil exports in March. A survey by Reuters on Monday showed that OPEC pumped less crude in...

Nigeria’s Crude Production Falls 1.419mbpd in January - OPEC The Organisation of Petroleum Exporting Countries report shows that Nigeria’s crude oil production marginally dropped to 1.42 million barrels a day in January 2024. OPEC’s Monthly Oil Report for February 2024 released Tuesday showed that the country’s...

Trends that will Shape Nigeria's Economic Trajectory  Rising inflation, lower consumer purchasing power, global supply-chain bottlenecks, and forex shortages may continue to impact manufactured output in 2024. Professional services firm, PricewaterhouseCoopers (PwC Nigeria) made this projection in its latest Nigeria Economic Outlook, which highlights the seven...

Nigeria’s Crude Oil Production Rises 1.4mbd, Says OPEC  The Organisation of the Petroleum Exporting Countries said Nigeria’s crude oil production rose to 1.418mbpd in December 2023. OPEC, in its Monthly Oil Market Report for January 2024, said Nigeria’s crude oil production increased by 100mb/d, from 1.319mbpd...

OPEC Demands Oil Investments Despite Push for Energy Transition The Organisation of the Petroleum Exporting Countries is seeking more investment in oil despite global push for renewable energy sources. OPEC said oil remains indispensable in the renewable energy transition, projecting in its recent 2023 World Oil...

Monopoly: Price Hike Drives Oil Marketers out of Fuel Imports - Kyari The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has defended the company’s current monopoly in fuel import, arguing that oil marketers withdrew from fuel importation due to...