Oil Production Rises 9%, Hits 1.7mbpd in 2024 - FG The Federal Government says Nigeria’s oil production, including condensates, jumped by 9.9 per cent to 1.69 million barrels per day in November 2024, up from 1.538mbpd recorded in October 2024 According to the latest data released...

FG Vows to Exceed OPEC Oil Production Quota in 2025 The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, has stated that the plan to produce 2.06 million barrels of crude oil per day in 2025 remains on course despite the 1.5mbpd oil production...

Report Reveals Nigeria, Others Need $100/Barrel Oil to Balance Budgets   Emerging economies that produce oil, like Nigeria, Angola and Ecuador, need prices to be around $100 per barrel to balance their budgets, according to a report by Reuters on Monday. It noted that lower oil prices...

Oil prices fell sharply on Monday, with both Brent and US West Texas Intermediate (WTI) crude sliding over 2%

The Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Authority (NUPRA) say the country’s crude oil production

In October, Nigeria’s Crude Oil Production Hits 1.43 million bpd - OPEC The Organization of Petroleum Exporting Countries says Nigeria’s daily crude oil production increased from 1.39 million barrels per day (bpd) to 1.43 million bpd in October 2024. This was revealed in the November 2024...