OPEC

"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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· Insists no more crisis By Teddy Nwanunobi Despite struggling to meet its production quota recently, the Federal Government, on Tuesday, at the ongoing three-day Gastech 2021 conference, which began at the World Trade Centre…
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*Sylva said that he didn't expect the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, to take any extraordinary measures when they meet next month     Nigeria is in talks with OPEC+ to raise…
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By Teddy Nwanunobi Nigeria’s external reserves received some boost by the crude oil price, as the reserves grew by 3.71 per cent, or $1.96 billion, in the last 19 days. The external reserves, according to the Central Bank of…
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*OPEC mourns with Algeria Algeria’s longest-serving president, Abdelaziz Bouteflika, who resigned in 2019 amid pro-democracy protests after two decades in power, has died aged 84. The state television announcement on Friday,…
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