Nigeria and the United Arab Emirates (UAE) are seeking to expand trade and investment under their newly signed Comprehensive Economic Partnership Agreement (CEPA), officials confirmed after a meeting in Abuja.
The United Arab Emirates (UAE) raised crude oil production to 3.8 million barrels per day in June, its highest level since April 2020, after quitting OPEC+ to escape quota restrictions.
The Dangote Petroleum Refinery has imported its first-ever crude cargoes from the United Arab Emirates, marking a significant expansion of its feedstock sources amid domestic supply challenges.
OPEC+ raised oil production quotas by 188,000 barrels per day for June, in a move analysts say was designed to project stability after the sudden withdrawal of the United Arab Emirates (UAE).
The United Arab Emirates (UAE) has announced plans to leave the Organization of the Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance effective May 1, 2026, citing changing global oil demand. Â
