Oil Cuts: Nigeria, Others Under Pressure, OPEC+ Meets
Nigeria and other countries that have been exceeding their oil production quotas came under fresh pressure on Wednesday as the Organisation of Petroleum Exporting Countries and its allies met to review compliance with the output cuts meant...
Oil Exploration Suffers Setback As Nigeria’s Rigs Fall By 33%
With many oil and gas companies struggling to stay afloat amid the current market situation, exploration activity in the country has suffered a decline as the number of active rigs fell by 33.33 per cent...
Nigeria’s Oil Production Falls To 1.37m Barrels
Daily crude oil production in Nigeria dropped by 38,000 barrels in July to 1.37 million barrels, a new report by the Organisation of Petroleum Exporting Countries showed on Wednesday.
The oil cartel, in its Monthly Oil Report for August,...
Oil Price Nears $46, Highest In Five Months
The international oil benchmark, Brent crude, rose on Wednesday to its highest since early March after a large decline in the United States’ crude inventories and supported by a weak dollar.
Brent, which plunged to as low as...
Debt Servicing May Limit Nigeria’s Productivity – OPEC
The servicing of debts by Nigeria may limit the Federal Government’s ability to increase economic productivity, the Organisation of Petroleum Exporting Countries said on Tuesday.
OPEC, also disclosed that based on direct communication with Nigeria, the country’s crude...
In Five Years, Nigeria Earned $206bn From Oil – OPEC
Nigeria, Africa’s top oil producer, generated $206.06bn in revenue from crude oil exports in the last five years, the Organisation of Petroleum Exporting Countries has said.
OPEC, in its 2020 Annual Statistical Bulletin released on Monday,...
