November Oil Production Increases To 1.44m Daily – Report     In a related development, Nigeria, Africa’s largest oil producer, produced 1.44 million barrels per day in November, a rise of 70,000 bpd from the previous month, as output from Bonny Light and Erha fields rebounded, according...

Nigeria Revenue May Crash Further As OPEC Forecasts Supply Glut     Nigeria’s revenue from crude oil sale may drop further in the first and second quarters of 2022 going by the latest projection of surplus oil supply in the period under review by the Organisation of...

Nigeria’s Rig Count Drops As OPEC Lowers 2021 Oil Demand Outlook     Confirming reports of low production and inability of the country to meet its crude oil quota, the latest monthly report of the Organisation of Petroleum Exporting Countries (OPEC) has shown that Nigeria’s rig count...

$450bn Refinery Investments Coming To Nigeria, Others – OPEC     The Organisation of Petroleum Exporting Countries on Tuesday said about $450bn worth of new refinery projects and expansion of existing units would be invested in Nigeria and other developing nations. It said the investments were part of...

Nigeria’s October Oil Output Fell To 1.37m bpd     Nigeria’s crude oil production dropped to 1.37 million barrels per day last month from 1.39 million bpd, a survey by Platts showed on Monday. The country’s oil production in October was 261,000 bpd below the quota given to...

Oil Price Reaches $83.37/Barrel As OPEC Meets Today   Oil price in the Organization of the Petroleum Exporting Countries (OPEC) daily basket price stood at $83.37 a barrel on Tuesday, ahead of the 22nd OPEC and non-OPEC Ministerial Meeting, scheduled for Thursday. In a statement, the organization...