The Nigerian oil and gas sector requires about $7 billion capital investment yearly, to fund exploration and development to achieve the nation’s crude production targets, according to Nigerian Investment Promotion Commission (NIPC). Besides, Organisation of the Petroleum Exporting Countries (OPEC), also put the expected...
Oil production from the Organisation of the Petroleum Exporting Countries (OPEC) rose to another record, hitting 33.54 million barrels per day (b/d) in October.
The figure was significantly boosted by recoveries in Nigeria and Libya and more than offset field maintenance in Angola.
The gains, which...
The crude oil production figure provided by Nigeria to the Organisation of Petroleum Exporting Countries for last month was 139,000 barrels per day lower than the estimate from secondary sources.
Nigeria, which lost the Africa’s top oil producer status in March, produced less crude oil...
Global oil benchmark, Brent, jumped to a one-year high on Monday, after Russia said it was ready to join the Organisation of Petroleum Exporting Countries in curbing crude output.
The oil price has risen from $45 on September 28 when OPEC decided to cut output...
Global oil benchmark, Brent crude, extended its rally on Sunday to hit the $50 per barrel mark, the third time this year.
This comes as the expected return of the Forcados export terminal has helped to boost Nigeria’s planned crude oil exports this month to...
…Once again Kachikwu’s International Diplomacy Yields Dividends as oil prices surge
After about forty eight (48) hours of a grueling meeting of the Organization of Petroleum Exporting Countries held in Algeria, OPEC in Algiers, the oil cartel agreed to a landmark deal that will effectively...
