Russia and Saudi Arabia have supported decision yet the Organization of Petroleum Exporting Countries, OPEC, to keep with the policy of gradual opening up of oil production among member states. Oil’s stability relative to natural gas and coal underscore that…
…World demand to increase by 5.8 mb/d The Organi sation of the Petroleum Exporting Countries (OPEC) has said Nigeria’s crude oil production averaged 1.451 million barrels per day in September 2021. OPEC made this known in its Oil Market Report…
…as $11.8trn investment is required through 2045 By Uthman Salami The Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Mohammed Sanusi Barkindo has warned that consumers should brace for more energy shortages. He said unless the world boosts…
The amount spent on the importation of petroleum products into Nigeria in 2020 is $43.46bn higher than the revenue which the country earned from the export of petroleum products in the same year. In its 2021 report on the latest…
…As Member countries export an average of 19.70mb/d of crude oil in 2020 By Uthman Salami The Organization of Petroleum Exporting Countries, OPEC, recorded a great reduction in its global crude export in 2020 after Corona Virus pandemic caused a…
Dangote’s 650,000 barrels-per-day (bpd) oil refinery project, has been identified as one of the oil distillation companies that would boost global refining capacity by 6.9 million barrels per day between 2021 and 2026. The Organisation of the Petroleum Exporting Countries…
Indications have emerged that the Organization of Petroleum Exporting Countries (OPEC) and allies are most likely to sustain the existing deal to add 400,000 barrels per day (bpd) to its output for November. A number of sources laid claim to…
By Uthman Salami The Organization of Petroleum Exporting Countries, OPEC+ is working to keep prices around $70 per barrel. Oil Prices have been uptick in the last few days, but Iraq’s oil minister, Ihsan Abdul Jabbar Ismail as confirmed latest measures. The…
The Federal Government has officially written to the Organization of Petroleum Exporting Countries (OPEC) to seek for a higher production quota based on the OPEC+ agreement. The Federal Government hoped, with the request, that the OPEC+ and allies would grant…
The Secretary General, Organisation of Petroleum Exporting Countries (OPEC), Mohammad Barkindo has said Iraq will be hosting the organisation’s 60th anniversary in first quarter of 2022. Barkindo disclosed this in a letter he signed and issued to all Heads of…
