Nigeria’s crude oil output increased in the month of June despite the incessant bombings of oil installations by militants in the Niger Delta region, the July 2016 report of the Organisation of Petroleum Exporting Countries has shown.
Specifically, the country’s crude oil output increased by...
Nigeria’s oil revenue dropped by $35.67 billion (about N7 trillion) in 2015 according to the report in the Organisation of Petroleum Exporting Countries (OPEC)’s annual statistics bulletin released yesterday.
The report showed that the country earned $41.818 billion from the sale of crude oil (about...
The Niger Delta Avengers has denied entering into a ceasefire agreement with the Federal Government as the new OPEC Secretary Mohammed Barkindo suggests Carrot and Stick approach.
In a reaction to media reports, the Niger Delta group denied signing a 30-day ceasefire pact with the...
Oil prices pushed higher today thanks to a softer dollar after last week’s disappointing US jobs report, but gains were limited as producers increased their rig count.
The US Labor Department said Friday that just 38,000 new jobs were created last month, a quarter of...
There are conflicting figures over the current Nigeria's oil production after the destruction of oil pipelines as Niger Delta militant group claims it is now 800,000 barrel-per-day while the Ministry of Petroleum insists the production is now 1.6m bpd after some repairs.
The Niger Delta...
The price of oil may remain low for the rest of the year as the Organisation of Petroleum Exporting Countries (OPEC) failed to agree on crude oil output cut at its 169th meeting held in Vienna, Austria.
The group had in December 2015 failed to...
