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Business

2024 Budget: Crude Oil Production, Price Benchmark Realistic, Says NNPC

The Nigerian National Petroleum Company Ltd has assured that the projections on crude oil production and price benchmark for the 2024 Budget were realistic...
Business

2024 budget threatened as OPEC+ cuts Nigeria’s crude oil output

The 2024 budget estimates recently submitted by President Bola Ahmed Tinubu to the National Assembly for consideration by the Senate and House of Representatives...
Business

Africa’s 2024 oil production output bleak- Report

With the Organization of Petroleum Exporting Countries(OPEC), considering making further voluntary production cut to stabilize the global oil market a new report has predicted...
Business

OPEC+ postpones policy meeting to November 30

The ministerial meeting of the Organisation of Petroleum Exporting Countries alliance (OPEC+) has been postponed to November 30, 2023, from its earlier dates of...
Business

OPEC says Nigeria’s crude output rose to 1.18m bpd in August, falls behind Libya

Nigeria increased its crude oil production in August to 1.18 million barrels per day (bpd), the Organization of the Petroleum Exporting Countries (OPEC) disclosed...
Business

Nigeria’s oil production growth may lead to out OPEC

Similarly, the improved security situation in the oil rich Niger Delta area is helping Nigeria to inch up oil production activities.The OPEC’s core members...
Business

Nigeria’s economy grew by 2.4% in Q1 – OPEC

The Organisation of the Petroleum Exporting Countries (OPEC) has said that Nigeria’s economic growth in the first quarter of 2023 (1Q23) stood at 2.4...
Business

Dollar index decreases by 1.6% in July – OPEC

The Organisation of the Petroleum Exporting Countries (OPEC) has said the U.S. dollar index decreased by 1.6 per cent month-on-month (m-o-m) in July, erasing...
Business

OPEC+ crude oil production hits two-year low, after cuts by Saudi Arabia

A Platts survey by S&P Global Commodity Insights has shown that crude oil production by the Organization of Petroleum Exporting Countries (OPEC) and its...
Business

Nigeria retains Africa lead, pumps 1,277mbpd crude in June, Angola, Algeria, Congo production drop

The Organization of the Petroleum Exporting Countries (OPEC) has disclosed Nigeria maintained its position as the largest crude oil producer in Africa in June,...
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