…As supply to India dips to 120,000mbpd Following the lingering conflict between Russia and Ukraine, the Nigerian National Petroleum Company Limited (NNPCL) has stated that the country has rejigged its crude oil sales target market to Europe. Executive Director, Crude…
The Nigerian National Petroleum Company Limited (NNPC Ltd) has provided insight into how the lingering Russia – Ukraine war impacted Nigerian crude oil inflows in the international oil market. The NNPC Ltd said this led to a dip in demand…
Nigeria’s oil production output in October has risen to 1.49 million barrels the highest in two years. Recent data by the Organisation of Petroleum Exporting Countries (OPEC) revealed that Nigeria increased its output by 60,000 barrels per day, reaching 1.49mbpd.…
The House of Representatives has resolved to introduce legislative instruments to halt crude oil theft, which led to loss of over one billion dollars in revenue. The Deputy Speaker, House of Representatives, Rep. Benjamin Kalu said this during the presentation…
According to the latest monthly report from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s average oil production hit a 20-month high in September reaching 1.57mbpd. The report indicated that crude oil output (including condensate) rose by 11.1 percent from…
…As Nigeria fails to significantly increase production According to the review of global oil prices on oil price yesterday, Brent crude is at $92.28 per barrel. In August, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported a daily oil production…
By Sodiq Adelakun Four individuals have been arrested by the Nigerian Navy Ship (NNS) BEECROFT for allegedly attempting to smuggle 11,000 litres of suspected stolen crude oil into Lagos. The suspects, who are said to be members of Tantita Security…
The National Security Adviser (NSA), Malam Nuhu Ribadu, says the country is still losing 400,000 barrels of crude oil daily to local and international thieves despite efforts to end the menace. Ribadu confirmed this when he led a presidential delegation…
Oil prices fell more than 3 per cent in the week to August 18 on concerns about slowing economic growth in China, the world’s biggest oil importer, and expectations of further US interest rate hikes. International benchmark Brent crude traded…
By Akinyemi Precious Statistics by the African Energy Chamber (AEC) in its Q2 State of African Energy report has revealed that Nigeria lost 165,000 barrels per day from crude oil production outages between January and May 2023. The daily loss…
