Tag: OPEC

President Bola Tinubu wrote a memo in May to the minister and the SGF issuing specific directives.

“If current revenue shortfalls persist, the revenue for 2024 is unlikely to exceed N15.8 trillion,” the report said

PREMIUM TIMES believes that at a time in which the economy is bleeding profusely, there must be better areas to ...

The Nigerian lawmaker also talks about insecurity and the funding of the National Assembly.

The oil cartel explained that the JMMC reviewed the crude oil production data for January and February 2024 and noted ...

Both parties pledged to attract investments and boost production

The last meeting of the MPC was held in July 2023, and was presided over by the then-acting CBN governor, ...

Nigeria’s crude oil production dropped to 1.149 million barrels per day in January, from 1.422 million bpd recorded in December ...

Nigeria’s crude oil production rose to 1.41 million barrels per day in December, from 1.31 million bpd in November 2023, ...

The minister stressed the imperative of collective efforts in curbing pipeline vandalization and oil theft.

According to the oil cartel’s direct communication data, Nigeria’s crude oil production dropped to 1.25 million barrels per day from ...

Brent crude futures climbed 13 cents, or 0.2 per cent, to $83.23 a barrel by 0740 GMT.

OPEC and allies are expected to meet on 30 November.

"My expectation is for us to come up with our home-grown solution to address our problem in the petroleum industry," ...

Oil prices remain under pressure from demand fears driven by macroeconomic headwinds.

“Criminal proceedings against Ms Alison-Madueke are active and she has the right to a fair trial."

Nigeria recorded 1.184 million barrels per day (bpd) of crude production in May, up from 999,000 bpd recorded in April

OPEC and its allies had in October last year agreed to cut oil output by 2 million barrels per day

Saudi Arabia announced the biggest cut among OPEC members at 500,000 barrels per day.

Nigeria’s crude oil production climbed to 1,336 million barrels per day, from 1,271 million in December 2022.

The oil cartel urged all participating countries to adhere to the directives

Futures for Brent crude, the global benchmark, dropped 2.9% to trade close to $81 a barrel, the lowest level since ...

President Biden criticises the latest production cut by OPEC, and orders the release of more oil from the U.S. reserves.

It is the deepest cut by OPEC+ since the 2020 COVID pandemic, and comes despite pressure from the United States ...

The government must have the courage to prosecute those stealing crude oil and those vandalising the pipelines.