The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri has attributed the low crude oil production in the first quarter of the year to issues with the Trans-Niger pipeline and maintenance activities by some oil companies. The Minister in…
For February, Nigeria’s crude oil production dropped to 1.32 million barrels per day from the 1.42-million-barrel oil daily production- a drop of 104,000 barrels per day. This is according to OPEC’s monthly oil market report (MOMR). The figure for the…
…Solicits EFCC’s support in combating oil theft The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr Mele Kolo Kyari gas stated that crude oil theft is the most virulent economic crime in Nigeria. The…
Senate President Godswill Akpabio has lauded the Nigerian Navy over improved security in the maritime environment and increased onslaught against crude oil theft in the country. Akpabio gave the commendation on Friday at the Regimental Dinner organised by the Nigerian…
Dangote refinery is preparing to import crude from the US in the forthcoming months, signalling the increasing competitiveness of American barrels in the global market. This is according to reports from Bloomberg. Traders’ familiar with the matter disclosed that Trafigura…
For the month of December, Nigeria’s average daily crude oil production reached 1.418 million barrels from the 1.31 million barrels recorded in the month of November. This represents an increase of 100 tb/d from what was recorded in the previous…
The Organization of Petroleum Exporting Countries (OPEC) crude oil production maintained a steady production of crude oil with an average of 28.05 million bpd in December 2023 with Nigeria boosting output by an extra 50,000 bpd, a survey by Bloomberg…
The newly appointed Board and Management team for the Nigerian National Petroleum Company Ltd (NNPCL) on Monday pledged to produce two million barrels of crude oil on a daily basis from 2024. Chief Pius Akinyelure, Non-Executive Board Chairman of NNPCL,…
Global crude oil demand for the fourth quarter of 2023, will slip to 101.7 million barrels per day. The International Energy Agency (IEA) stated in its Oil Market Report preview. According to the agency, crude oil demand growth is slowing…
Nigeria is the top African crude oil producer for November 2023. This is according to data from the monthly oil market report released earlier today, December 13, by the Organization of Petroleum Exporting Countries (OPEC). In the recent OPEC report,…
