Barkindo: African Petroleum Organisation Condoles with Buhari   The Secretary General, African Petroleum Producers’ Organisation (APPO), Dr Omar Farouk Ibrahim, has condoled with President Muhammadu Buhari on the passing of Dr Mohammed Sanusi Barkindo, the Secretary-General of Organisation of Petroleum Exporting Countries (OPEC).   In a letter of...

Oil Producers Incapable To Replace Russian Supply - OPEC The Organisation of Petroleum Exporting Countries has revised the demand for crude oil in 2022 downward due to the concerns around global economic growth. OPEC’s Secretary-General, Sanusi Barkindo, revealed this at the 62nd Meeting of the Joint...

Nigeria, Others Lost $1trn Oil Revenue In Two Years – OPEC       Nigeria and other members of the Organization of the Petroleum Exporting Countries lost about $1tn in revenue due to the plunge in oil prices in 2015 and 2016. OPEC’s Secretary-General, Sanusi Barkindo, who disclosed this...

Oil Industry’s Upstream Spending Dropped By 30% In 2020 - Barkindo       Meanwhile, the Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, has said that the cartel’s latest assessment shows that capital investments in the upstream of the oil and gas...

In a move which will restructure the financing template for oil earnings, increase investments and boost government revenues, the Federal Government has reached agreement on a new cash call exit policy with the international oil companies (IOCs). The historic agreement which will bring clarity and...

…Kachikwu Negotiates Key Agreement To Ensure Nigeria Is Exempted From The Production Cut Rising from its 171st meeting held at Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna, OPEC reached a landmark deal that will effectively cut production by about 1.2 million barrels...