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Nigeria struggles to find buyers for over 30 million barrels of crude oil

• FG Insists 1.78m bpd Oil Production Feasible Despite GlitchNigeria may struggle to find buyers for its crude oil as about 30 out of 53...

Business

Nigeria loses position as Africa’s biggest oil producer as production drops to 1.23m bpd in March, says OPEC

Nigeria’s daily crude oil production maintains steady decline in 2024 as it dropped to 1.23 million barrels per day in March 2024 costing the...

Business

Nigeria’s oil sales plummet as Europe’s demand shifts

Nigeria’s oil exports are facing a significant hurdle as a decline in European demand creates a buyer’s market.This development comes at a time the...

Business

Oil-for-cash-deal: Afreximbank to release $1bn balance to Nigerian govt in May

African Import Export Bank (AFREXIM Bank) is set to release the sum of $1.05bn to the federal government of Nigeria in May 2024.This is...

Business

Again, Nigeria fails to meet OPEC quota as crude production falls to 1.32mbpd in February

For the second consecutive month, Nigeria failed to meet its monthly crude production quota of 1.5mbpd as stipulated by the Organisation of Petroleum Exporting...

Business

Nigeria fails to meet 1.7mbpd crude oil budget benchmark projection for January 2024

Despite a budgetary benchmark of 1.7 million bpd crude oil production, Nigeria, for the month of January 2024 produced 1.43 million barrels per day...

Business

After years of dormancy, PH refinery takes delivery of 475,000 barrels of crude oil from Shell

After several years of dormancy, it appears the Port Harcourt refinery is set for a restart as Shell Petroleum Development Company Limited (SPDC) has...

News

Crude Oil Theft: CSO Applauds NSCDC Boss For Prioritizing Personnel Training

A civil society organization STAND UP NIGERIA has applauded the Commandant General of the Nigerian Security and Civil Defense Corps Dr. Ahmed Abubakar Audi...

Business

Nigeria to witness increase in oil production in 2024 —Report

Analysts at Meristem Research are projecting an increase in Nigeria’s oil production in 2024 barring any significant, unexpected shock to the sector in the...

Business

Nigerian govt targets 2mbpd crude oil production in 2024

The Federal Government of Nigeria has set a target of two million barrels per day crude production in 2024.This is about 500,000bpd higher than...

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