Nigeria meets crude oil production quota of 1.5m bpd – OPEC
According to OPEC’s monthly oil market report, the country’s production increased by 3.6% from December’s output of 1.48 million bpd.
OPEC raises Nigeria crude oil quota to 1.799million barrels per day
The Organisation of Petroleum Exporting Countries (OPEC) has increased Nigeria crude oil quota from 1.772million barrels per day for June 2022 to 1.799million barrels per day in July 2022.
CRUDE OIL PRICES: Nigeria’s Bonny light, other OPEC grades drop
By Prince Okafor Despite significant rises in world’s leading crude oil grades in the international market yesterday, Nigeria’s crude oil grade, Bonny light, declined to $110 per barrel from $111.5 per barrel recorded last Friday. Crude oil prices at the international market witnessed average three per cent rise yesterday as the release of reserves by […]
Why Nigeria can’t meet OPEC’s 1.8mb/d oil production quota ― FG
By Obas Esiedesa, Abuja The Federal Government has blamed the lack of investment in the oil and gas industry for Nigeria’s continuing failure to meet its 1.8 million barrels per day oil production quota set by the Organisation of the Petroleum Exporting Countries (OPEC). Nigeria’s production has stagnated around 1.4mbpd in the past 11 months […]
OPEC suffers 190,000 barrels daily supply shortfall
THE Organisation of Petroleum Exporting Countries, OPEC, yesterday, put Nigeria’s January 2022 oil output at 1.399 million barrels per day, mb/d.
Higher oil prices pushing subsidy cost to N3.5trn
There are indications that the subsidy burden on the 2022 budget may worsen as oil industry experts forecast higher landing costs for imported petrol in the days ahead.
