The Organisation of the Petroleum Exporting Countries (OPEC) said the ongoing war by Russia in Ukraine is causing huge volatility for the global energy market. Mr Mohammad Barkindo, OPEC Secretary-General, made the assertion while speaking at the virtual 62nd Meeting…
The Organisation of Petroleum Exporting Countries on Monday said insufficient investments in the oil sector had limited the capacity of Nigeria and other OPEC member nations to pump the volumes of crude oil approved by the organisation. OPEC also revealed…
By Uthman Salami The Organisation of Petroleum Exporting Countries Fund for International Development, according to information from Morocco, is expected to finance $14.3 million for the second phase of the studies in the submarine Nigeria-Morocco gas pipeline project. A statement…
The Organisation of the Petroleum Exporting Countries (OPEC) has commiserated with the government of Imo, following Friday’s explosion of an illegal refinery at Abaezi forest in Ohaji-Egbema Local Government Area of the state. OPEC made the commiseration in a letter…
The number of functional crude oil production rigs in Nigeria decreased by 37.5 per cent to just 10 operational rigs in March 2022, the Organisation of Petroleum Exporting Countries has said. An oil rig, offshore platform, or oil and/or gas…
The Organisation of the Petroleum Exporting Countries (OPEC) price for basket of 13 crude oil samples stood at $108.81 per barrel as at Thursday, April 21. This is compared with $107.97 per barrel of the previous Wednesday, according to OPEC…
The Organi sation of the Petroleum Exporting Countries (OPEC) said Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March 2022. OPEC made this known in its Oil Market Report for April 2022 which…
The Organisation of the Petroleum Exporting Countries (OPEC) has said the ongoing war between Russia and Ukraine has serious ramifications for the energy industry. Mr Mohammad Barkindo, OPEC Secretary-General, said this during the 15th High-level Meeting of the European Union-OPEC…
OPEC does not have the additional spare capacity to lift crude oil production much more than it is doing today, Nigeria’s Petroleum Minister Timipre Sylva said. “It is not something that you can open a tap for at this point.…
Nigeria in March recorded a sharp drop in oil output which was put at 100,000 barrels a day. This was partly attributed to force majeure declared on the Bonny and Brass River streams. Also, in March the Organisation of Petroleum…
