Nigeria’s oil production increased from 600,000 barrels per day to 1.59 million barrels per day yesterday according to the Nigerian National Petroleum Company Limited (NNPCL). The Chief Investment Officer, NNPC Upstream Investments Management Services (NUIMS), Mr. Bala Wunti, who represented…
Finanical experts have urged the Federal Government to raise the country’s oil production quota and expand tax net to check rising debt profile and boost revenue. They said this in separate interviews with journalists on Monday in Lagos. The Chief…
Global oil demand climbed seasonally in September to the second-highest level of the year and nearly 1 mb/d above September 2019 levels, according to new data from the Joint Organizations Data Initiative (JODI). Demand growth was driven by diesel consumption…
Mrs Evelyn Ngige, the Permanent Secretary, Federal Ministry of Industry, Trade and Investment, on Monday said the President Muhammadu Buhari administration was working hard to diversify the Nigerian economy from over-dependence on oil and gas. Ngige stated this during the…
By Ibiyemi Mathew The Organization of Petroleum Exporting Countries (OPEC) has predicted that the demand for oil globally will rise for another decade. The organization which is set to review its World Oil Outlook said oil will last longer than…
Some financial analysts have urged the Federal Government to raise the nation’s oil production to OPEC quota, as panacea to ensure fiscal sustainability and reduce the proposed budget deficit. They made the appeal in separate interviews with newsmen on Wednesday…
By Ogaga Ariemu After the discovery of crude oil in commercial quantity in Oloibiri Bayelsa State, the challenge of oil theft has persisted untamed. From the creeks in Delta to Bayelsa states, the illegal business of oil bunkering lingers. Year…
The Federal Government has laid out new security architecture with the aim to reduce security menace associated with the production of oil and gas and also encourage investors to invest the Niger Delta region. The Minister of State for Petroleum…
South Sudan has threatened to quit the OPEC group if it interferes with its ability to meet its ambitious oil production plans, first vice-president Riek Machar said on Tuesday. Speaking at an industry conference on September 13, Machar said that…
Nigeria generated N799.10billion from oil sector in the first quarter of 2022, which is indicative of a 28.3 per cent decline from N1.11 trillion in the fourth quarter of 2021. This was disclosed in the Central Bank’s latest economic and…
