President Bola Tinubu has directed security agencies to improve the security architecture to ensure the production of 2.1 million barrels of crude oil per day. Gen. Christopher Musa, Chief of Defence Staff (CDS), said this while briefing State House correspondents,…
…Pledges support to NNPC Ltd The National Assembly has thrown its weight behind NNPC Ltd’s ongoing efforts to boost Nigeria’s crude oil production and grow its reserves, saying it will consider stiffer consequences for crude oil thieves and vandals of…
Nigeria’s average daily crude oil production increased to 1.27 million barrels per day (mbpd) in June 2024, fresh data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. According to the Monthly Oil Market Report (MOMR) released on Wednesday,…
Nigeria has maintained its position as the largest crude oil producer in Africa amid production rise to 1.276 million barrels per day in June, 2024. This is according to the latest data of Petroleum Exporting Countries, OPEC. This represents a…
By Adeyanju Esther The Nigerian Navy Ship, NNS Delta, recently uncovered two illegal refining sites suspected of processing stolen crude oil in the Warri South Local Government Area of Delta State. Led by Navy Commander Patrick Ali on Monday, representing…
No fewer that five vessels laden with crude and diesel fuel will berth in Apapa and Tincan ports in Lagos, a daily publication the Nigerian Ports Authority, has indicated. The vessels would also come with containers of different products. The…
The value of Nigeria’s crude oil export earnings increased by 50.2 percent in the first quarter of 2024 to N15.4 trillion, according to data from the Nigeria Bureau of Statistics (NBS). The earnings quoted in naira showed a rise from…
The group chief executive officer (CEO), Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari has said the country’s oil production volume is close to 1.7 million barrels per day (bpd). He made this known in Lagos at the weekend at…
Nigeria’s average crude oil production for the month of April marginally rose to 1.281 million barrels daily according to the Organisation of Petroleum Exporting Countries (OPEC) monthly oil market report for April. According to direct sources from the federal government,…
Lagos Commodities and Futures Exchange has projected that Nigeria will generate $4 billion annually from trading about 50 million barrels on Nigeria’s Commodities exchange. The Chief Executive of LCFE, Akinsola Akeredolu-Ale, disclosed this recently during a meeting with the Nigerian…
