CBN Reveals Reasons Behind Oil Revenue Crash
The Central Bank of Nigeria (CBN) has attributed the significant decline in oil revenue for the third quarter of 2024 to ageing pipeline infrastructure and operational inefficiencies.
According to the apex bank’s latest economic report for the third quarter...
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...
The Nigerian National Petroleum Company Limited (NNPCL) and the Nigerian Upstream Petroleum Regulatory Authority (NUPRA) say the country’s crude oil production
