Tag: opec
Oil prices fall as OPEC plans to produce more
Sources say OPEC+ may agree to raise production by as much as 500,000 barrels per day in November three times…
Oil prices drop as OPEC plans to increase output
Investors are also watching the effects of new U.S. tariffs. President Donald Trump has warned of strong tariffs on countries…
Nigeria meets OPEC production quota for second time in 2025
Speaking to Argus Media, NNPC’s Group Chief Executive Officer, Bashir Ojulari, said the country’s current crude oil output is around…
Lokpobiri to OPEC: Tinubu’s reforms have positioned Nigeria for energy investment
The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has called on the international community, particularly the Global…
Nigeria’s economy shrinks by 1.2% in 2023’s first quarter
OPEC said this was against a growth of 3.6 per cent in fourth quarter of 2022, an indicator of 2023…
Russia to extend voluntary oil production cut
According to Novak, the decision by OPEC+ to extend the current agreement to 2024 and the voluntary production cuts by…
Crude oil production: Angola, Libya overtake Nigeria
Nigeria’s crude oil production for the month of August averaged 1.100 million barrels per day.
OPEC+ snubs Biden, increases output by only 0.1 percent
The increase, equivalent to 0.1% of global demand, follows weeks of speculation that Biden's trip to the Middle East and…
OPEC, Sylva lament Barkindo’s sudden death
Barkindo passed on in Abuja on Tuesday night at the age of 63.
Oil prices slide after OPEC+ production hike
The oil exporters’ cartel said it would increase supply by 648,000 barrels per day in July and August, 200,000 barrels…
Nigeria, Angola miss out on OPEC quota increases
At present quota, the two oil producers, including Russia have been unable to meet their targets, Russia because of the…
OPEC raises Nigeria’s oil production quota for June
OPEC took the decision at its 28th OPEC and non-OPEC Ministerial Meeting despite Nigeria missing its approved target for April…
Libya topples Nigeria as Africa’s top oil producer
Libya has overtaken Nigeria as Africa’s top oil producer, according to a new report by the Organisation of the Petroleum…
Oil prices rise again amid global energy crisis
The Organisation of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, last week decided to maintain a steady…
OPEC Secretary Barkindo congratulates Buhari on PIB
He added that the enactment of the legislation was timely as the investment outlook had become clouded by efforts aimed…
OPEC+ agree to boost oil supply, Nigeria awaits new quota
OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year…
OPEC+ ministers meet today
OPEC+ ministers are meeting virtually today to agree an oil supply boost to address soaring oil prices as the global…
Sylva jets out on OPEC mission to four nations
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has embarked on a tour to some Organisation of Petroleum…
NNPC restates commitment to OPEC Agreement
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization…
Big boost for Nigeria as oil prices near $50 per barrel
Nigeria's precarious economy may hit an upswing earlier than forecast as oil prices headed Friday for a fifth week of…
Nigeria has 200 million poor people – Buhari admits
President Muhammadu Buhari on Thursday admitted that Nigeria has 200 million poor people and asked the Organisation of Petroleum Exporting…
OPEC+ gives oil prices another jack up
OPEC+ decision to stick to production quotas jacked up oil prices for the fourth day in a row on Friday,…
OPEC is 60 today: Barkindo reveals the driving spirit
Throughout OPEC's 60-year history one recurring theme that has guided the Organization’s work to support sustainable oil market stability is…
Nigeria fully complies with OPEC+ quota: Mele Kyari
With its current daily oil production, Nigeria has over-complied with its OPEC+ quota, Mele Kyari, the group managing director of…
Trump says OPEC+ planned output cut 20 mbpd
Top global oil producers are considering output cut of 20 million barrels a day under the terms of a deal…
Nigeria pegs oil output at 1.412m barrels a day: Sylva
Nigeria is set to peg its daily oil output at 1.412 Million barrels per day from the average 1.87mbd, petroleum…
Oil producers agree record 9.7m barrels output cut
Top oil-producers agreed Sunday on "historic" output cuts in a bid to boost plummeting oil prices due to the new…
Bad News for Nigeria, OPEC: Oil prices could fall to $40 in 2020
It's bad news for Nigeria and other OPEC countries and Russia as they meet in Vienna on 5 December to…
Brazil mulls joining OPEC
Brazilian President Jair Bolsonaro said on Wednesday that he wants his country to join OPEC, a move that would add…
Nigeria, others sign new OPEC Charter
Member and Non member nations of the Organization of Petroleum Exporting Countries( OPEC) on Tuesday signed a “Charter of Cooperation”…