OPEC

The Organisation of Petroleum Exporting Countries (OPEC) says Nigeria lost about 22.658 million barrels of crude oil valued at N1.22tn in the first quarter of 2022. OPEC made this known in a series of data contained in various…
Read More...

President of the Bolivarian Republic of Venezuela, HE Nicolas Maduro Moros conferring HE Mohammad Sanusi Barkindo, OPEC Secretary General the highest Venezuelan civil award, the Order of Francisco de Miranda, in its first class. The…
Read More...

The Organisation of Petroleum Exporting Countries (OPEC), has affirmed its decisions for upward adjustment of the monthly overall production by 0.435 million barrels per day (mb/d), for June 2022. This followed the conclusion of the…
Read More...

Oil prices dipped on Wednesday as a soaring dollar made barrels more expensive and Europe’s biggest economy Germany was speeding up plans to wean itself off Russian oil while coronavirus outbreaks clouded China’s economic outlook. …
Read More...

Projected demand drop of over 1.4 million barrels per day of crude oil at the international market may provide brief succour for Nigeria’s economy, which has been gasping for breath over soaring oil prices. Although a rise in oil…
Read More...

The number of functional crude oil production rigs in Nigeria decreased by 37.5 per cent to just 10 operational rigs in March 2022, the Organisation of Petroleum Exporting Countries has said. An oil rig, offshore platform, or oil…
Read More...

Oil prices tumbled 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation. Prices fell despite lower output from OPEC+,…
Read More...

Key oil producers in West Africa are experiencing dwindling sales as export to Europe and Asia appear to be on steady decline. Report shows that Russia’s invasion of Ukraine has caused one of the biggest upheavals to global…
Read More...

The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March 2022. OPEC made this known in its Oil Market Report for April 2022…
Read More...

Nigeria’s billionaire businessman, Tony Elumelu has stated that the country couldn’t meet its oil production quota as approved by the Organisation of Petroleum Exporting Countries (OPEC) due to huge volume of crude oil theft. His…
Read More...