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Crude oil

Energy

NNPCL’s Total Outstanding Petrol Subsidy Debt Hits N1.04trn, N448.7bn Deducted in July 

Kyari With total spending on the controversial petrol subsidy now exceeding oil revenue, the Nigerian National Petroleum Company, NNPC Limited, outstanding debt on what it...
Energy

Nigeria loses N101bn worth of oil, says OPEC

The Nigeria’s Crude Oil production plunged by 2.3 million barrels in July 2022 when compared to what the country produced in the preceding month...
Energy

Oil price falls, OPEC raises Nigeria’s production quota

The Organisation of Petroleum Exporting Countries on Wednesday raised Nigeria’s crude oil production quota for September 2022 to 1.83 million barrels per day, as...
Energy

Oil falls below $100, Nigeria’s production hit 1.158mb/d

The international benchmark for crude, fell below $100 per barrel on Tuesday as the latest figures released by the Organisation of Petroleum Exporting Countries...
Energy

NNPC makes N1.7tn from crude sales in 12 months

Revenue made by the NNPC Limited from crude oil sales in one year has been put at N1.7trn. The corporation’s latest monthly and financial report...
Energy

NNPC Rakes in N203bn from Petroleum Products Sale in July 2021

  …as Gas Production goes up 4%   A total sum of ₦203.73billion was made on the sale of white products in the month of July 2021...
Energy

JP Morgan Forecasts $125 Oil Price in 2022, $150/bbl in 2023

Oil prices are expected to overshoot $125 a barrel next year and $150 in 2023 due to capacity-led shortfalls in the Organisation of Petroleum...
Energy

Crude oil hits $77 amid supply constraints

The price of the international crude oil benchmark, Brent, rose on Thursday amid supply constraints and a drop in United States oil reserves. As of...
Energy

OPEC to adjust crude oil production in August

The Organisation of Petroleum Exporting Countries and its allies known as OPEC+ have decided to adjust upwards their overall production by 0.4 million barrels...
Energy

Nigerian crudes shops for buyers as India cuts purchases – Report

Nigerian crude variants are now seeking other buyers in Asia and Europe as India’s COVID-19 situation remains shrouded in uncertainty amid stringent regional lockdowns...
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