Nigeria’s average crude oil production for the month of April marginally rose to 1.281 million barrels daily according to the Organisation of Petroleum Exporting Countries (OPEC) monthly oil market report for April. According to direct sources from the federal government,…
The OPEC+ oil producers group is eyeing Namibia for possible membership as it sets up what could be Africa’s fourth-largest output by the next decade. An African industry official and sources said on Tuesday. TotalEnergies (TTEF.PA), opens new tab and…
The number of functional oil drilling rigs across the country increased marginally to 16 in February, data from the latest March 2024 Monthly Oil Market Report of the Organisation of Petroleum Exporting Countries has shown. Figures released by OPEC indicated…
The Organisation of Petroleum Exporting Countries (OPEC) said crude oil output increased mainly in Nigeria and Libya, while production in Iran and Iraq decreased. OPEC said based on secondary data sources, total OPEC-12 crude oil production averaged 26.57 mb/d in…
For February, Nigeria’s crude oil production dropped to 1.32 million barrels per day from the 1.42-million-barrel oil daily production- a drop of 104,000 barrels per day. This is according to OPEC’s monthly oil market report (MOMR). The figure for the…
$14 trillion investment in the oil and gas industry between 2024 to 2045 will be required to meet global demands per the Organisation of the Petroleum Exporting Countries (OPEC). The Secretary-General of OPEC, Haitham Al-Ghais, made this known while fielding…
The Organisation of the Petroleum Exporting Countries (OPEC) said on Thursday that the outcome of the 2023 UN Climate Change Conference (COP28) and its agreement, reflected OPEC advocacies on pathways towards reducing carbon emission. The Secretary-General of OPEC, Haitham Al-Ghais,…
The Organization of the Petroleum Exporting Countries (OPEC) has advised the Nigerian National Petroleum Company Limited (NNPCL) to increase oil production in order to take part in the $14 trillion investment opportunity in the global oil market in the near…
For the month of December, Nigeria’s average daily crude oil production reached 1.418 million barrels from the 1.31 million barrels recorded in the month of November. This represents an increase of 100 tb/d from what was recorded in the previous…
The Organisation of the Petroleum Exporting Countries is seeking more investment in oil despite global push for renewable energy sources. OPEC said oil remains indispensable in the renewable energy transition, projecting in its recent 2023 World Oil Outlook that the…
