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…
The Organization of Petroleum Exporting Countries (OPEC) crude oil production maintained a steady production of crude oil with an average of 28.05 million bpd in December 2023 with Nigeria boosting output by an extra 50,000 bpd, a survey by Bloomberg…
The Organisation of the Petroleum Exporting Countries said its 2.2 million barrels per day expectations for economic growth in 2024 is expected to play a defining role in shaping global demand and supply in the oil market. OPEC stated this…
The Minister of State for Petroleum, Heineken Lokpobiri, has reaffirmed the nation’s commitment to the membership of the Organisation of Petroleum Exporting Countries (OPEC) after Angola, Africa’s second-largest oil producer exited the cartel. Mr. Lokpobiri disclosed this in a statement…
Angola said it would leave OPEC in a blow to the Saudi-led oil producer group that has sought in recent months to rally support for further output cuts to prop up oil prices. Angola’s Oil Minister Diamantino Azevedo said the…
