The Organization of the Petroleum Exporting Countries (OPEC) after its 19th virtual meeting with members and non-OPEC members (ONOMM), announced a decision to adjust upward their overall production by 0.4mb/d on a monthly basis, starting August, 2021 until phasing out…
Brent, the crude against which Nigeria’s oil is priced, dropped in price on Monday morning following the agreement reached by members and allies of the Organisation of Petroleum Exporting Countries to increase oil production. Industry figures showed that Brent fell…
The Organisation of the Petroleum Exporting Countries and allies (OPEC+) have agreed to boost the oil supply from August. The OPEC+ disclosed in a statement issued on Sunday that the group will increase supply by 2 million bpd or 0.4…
The Federal Government has launched a book entitled “Nigeria and OPEC : 50 years of Partnership,” to mark the golden anniversary of its membership in the Organisation of Petroleum Exporting Countries (OPEC). The Minister of State for Petroleum Resources, Chief…
The Organisation of Petroleum Exporting Countries on Tuesday kicked against calls for the discontinuation of investments in the oil and gas industry, describing such calls as dangerous. Secretary-General, OPEC, Sanusi Barkindo, spoke in a keynote address on ‘Global oil market…
By Uthman Salami OPEC, in collaboration with the African Energy Commission (AFREC), the African Petroleum Producers’ Organization (APPO) and African Refiners and Distributors Association (ARDA), joined efforts during the inaugural OPEC-Africa Energy Dialogue to promote continent-wide energy cooperation initiatives. The…
The Organisation of Petroleum Exporting Countries (OPEC) has postponed its 60th anniversary which had been planned to hold in the second half of May to September, 2021. OPEC made the disclosure in a letter on Wednesday by Ihsan Abdul Jabbar Ismaael,…
Oil-producing countries grouped together under the OPEC+ alliance led by Saudi Arabia and Russia agreed on output increases as of next month at a ministerial meeting on Thursday. A statement from the alliance said that they had agreed to boost…
The Organisation of Petroleum Exporting Countries (OPEC) says gas remains vital to Nigeria’s future in the global oil and gas sector. The OPEC Secretary General, Mohammad Barkindo, disclosed this on Monday in Abuja, at the pre-summit conference on “Decade of…
The Organisation of Petroleum Exporting Countries (OPEC) has commended Nigeria for achieving full conformity in January 2021, and compensating its entire overproduced volumes. The organisation gave the commendation at the end of its 14th virtual meeting of OPEC and non-OPEC…
