The National Agency (NOA) has commended Dangote Refining Company and the Federal Government for restarting local production of petroleum products in the country. Its Director General, Malam Lanre Issa-Onilu, in a letter of congratulations to the Ministry of Petroleum Resources,…
The Organization of the Petroleum Exporting Countries (OPEC) has postponed a high-level ministerial meeting from November 26, 2023 to November 30, 2023. According to OPEC+ sources, OPEC members Angola, Congo and Nigeria are struggling to agree on output levels and…
Nigeria’s oil production in October 2023 has suffered a decline to 1.56 million barrels of crude oil per day (bpd) following an increase earlier in September. According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria produced 1,350,573…
Oil production on a daily basis in Nigeria hit 1.346 million barrels in September according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The latest data signifies a 14 percent compared to 1.181 million barrels produced in August.…
The Federal Government of Nigeria has assured stakeholders in the oil and gas industry of its commitment to remove bottlenecks in the industry. The Minister for State Petroleum Resources (Oil), Senator Heineken Lokpobiri gave the assurance on Thursday when the…
…targets 6 months contract cycle …as active oil rigs hit 31 in 2023 from 10 in 2022 … Regulatory uncertainty drags upstream expenditure by 77.8% in 8yrs – NUPRC In a bid to ramp up Nigeria’s crude oil production, the…
Report released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that Nigeria’s oil production jerked higher by 8.4 percent in the month of August to 1.41 million barrels per day compared to 1.30 million barrels per day recorded…
According to a report from S&P Global Commodity InsightsOil and gas companies, Tullow Oil and BW Energy which have active operations in Gabon, have said there have been no disruptions to their oil production activities following the August 30 coup…
KPMG Nigeria, a multinational consulting firm, has revised Nigeria’s economic growth forecast for 2023 further downward to 2.65 per cent from the earlier promised 2.85 per cent, based on several factors, including the likelihood of a contraction in the country’s…
Saudi Arabia has announced its decision to extend the voluntary cut of oil production by one million barrels per day to September. The voluntary cut that was planned for July will now also cover September, the Ministry of Energy said,…
