OPEC

Maryamu Idris. Credit: NNPC The Nigerian National Petroleum Company has congratulated Maryamu Idris on her appointment as Nigeria’s National Representative to the Organisation of the Petroleum Exporting Countries (OPEC). Announcing…
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Crude oil prices rallied yesterday with slight gain to begin the week on a positive. While the Brent crude traded at $66.99, recording a gain of $0.62 or 0.93 per cent, the West Texas Intermediate (WTI), also gained $0.32, or 0.51 per…
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*Global oil flow. According to the Organisation of Petroleum Exporting Countries’ (OPEC) monthly report released in July 2025, the OPEC Reference Basket (ORB) value increased significantly by $6.11 (9.60%), rising from $63.62 per barrel…
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OPEC Secretary General HE Haitham Al Ghais, on behalf of the OPEC family, extended his deepest condolences on the tragic passing of the former President of Nigeria, Muhammadu Buhari, in a visit to the Nigerian Embassy in Vienna,…
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OPEC Headquarters in Vienn The Organisation of the Petroleum Exporting Countries (OPEC)has called for urgent and sustained investment in the global upstream oil sector, warning that a cumulative $14.9tn will be required between 2025 and…
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The global oil market is keeping a close eye on the Organization of Petroleum Exporting Countries (OPEC), which is unwinding output cuts at a faster rate than originally planned to punish over-producers. The OPEC+, which includes…
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The Organization of Petroleum Exporting Countries Plus (OPEC+) has agreed to accelerate its oil production hikes for the second month in a row, confirming on Saturday that output will rise by 411,000 barrels per day in June, despite…
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Dangote Refinery The Organisation of the Petroleum Exporting Countries says the Dangote Petroleum Refinery and its efforts to ramp up Premium Motor Spirit (petrol) production are impacting the PMS market in Europe. The…
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Nigeria’s crude oil production experienced a marginal increase in October 2024, reaching an average of 1.33 million barrels per day (bpd). This information was disclosed in the Organisation of Petroleum Exporting Countries (OPEC)’s…
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Chevron Nigeria Limited has found a new oil field in the shallow offshore area of the Western Niger Delta. The new oil field was estimated to hold 17,000 barrels of oil per day. Chevron, one of Nigeria’s biggest oil producers, works…
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