OPEC

"The Federal Government had repeatedly stated that it was making efforts to grow the country’s oil reserves in a bid to increase Nigeria’s revenue from crude sales" The 2021 Annual Statistical Bulletin of the Organisation of…
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"...Much of the demand growth materialises in 2021-23, as part of the recovery process from the COVID-19 pandemic" By Teddy Nwanunobi The Organisation of Petroleum Exporting Countries (OPEC), in its 2021 World Oil Outlook (WOO…
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By Teddy Nwanunobi Oil markets eased on Tuesday, after a five-day rally as investors took profits on fears that higher prices may weaken fuel demand, though market sentiment remained firm amid tight supply. Subsequently Brent…
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By Teddy Nwanunobi Goldman Sachs has raised its forecast for global crude oil predicting that prices could reach $90 per barrel by the end of this year, up from $80, due to supply disruptions in the Gulf of Mexico and signs of…
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"The Federal Government has previously pointed to a recently signed Petroleum Industry Act (PIA) as key to boosting investment and production" By Teddy Nwanunobi Nigeria and Angola will now have to struggle to boost output to…
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Nigeria’s crude oil production would likely reach two million barrels per day, mb/d, by the end of this year, according to Minister of State for Petroleum Resources, Timipre Sylva. The minister stated this at the Gastech 2021…
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"The rally in oil prices should come as good news for oil producing countries such as Nigeria" Unless Nigeria is able to ramp up its production in the current month, the country would be unable to maximum the current rise in crude…
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“We have to do something quick. Supply issues will be resolved by mid-2022" By Teddy Nwanunobi (with agency report) The Nigerian National Petroleum Corporation (NNPC) has projected that the supply crisis affecting the natural gas…
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By Teddy Nwanunobi The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), HE Mohammad Sanusi Barkindo, will, on Tuesday, September 28, present the major findings of the 2021 OPEC World Oil Outlook (WOO…
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“...Today, we join together, in spirit, with Saudis across the Kingdom – from Riyadh to Jeddah, from Makkah to Madinah as families, dear friends and loved ones gather to celebrate the magnificent cultural heritage and rich history of…
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