Nigeria to Seek Increased OPEC Oil Quota in November, Says NNPCL
The Nigerian National Petroleum Company Limited (NNPCL) has stated that the Federal Government of Nigeria plans to renegotiate the country’s…
Category: Commodities
Nigeria’s Dominance in Africa’s Gas Market: A Promising Future
Nigeria’s gas reserves have positioned the country as a dominant player in Africa’s gas market, accounting for 33 percent of…
State Intends to Issue a Water Bond Following a Failed Initial Attempt.
Nearly half of the water supplied in Kenya is unmetered, resulting in a significant loss of revenue for water companies…
Gulf’s dominance grows as a result of OPEC+ oil quota reform.
The recent reforms at OPEC, outlined by Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, aim to reward countries that…
Nigeria’s Oil Production Falls Below the Target Set by OPEC.
According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s oil production has fallen below the target set…
Nigeria’s Oil Output is Under Danger Due to Disruptions-EIA
The Energy Information Administration (EIA), a US agency, has stated that disruptions in Nigeria’s oil production have led to the…
Food Export Rejection: Nigeria Sets Up Quality Center, Attempts To Reverse N539 Billion Losses
In December 2022, Prof. Benedict Oramah, the chairman of the African Export-Import Bank (Afrixembank), revealed that Nigeria lost an estimated…
FG Approves Two Oil Export Terminal Licenses with a $11 billion Budget.
The Federal Government granted and signed permits for the construction of two crude oil export terminals, which have the potential…
Sesame exports from Nigeria show slight growth.
Sesame seed exports from Nigeria have been ranging between 140,000 and 180,000 tonnes for a while. According to data from…
Marketers Struggle to Get N10 billion for New Purchases of Fuel.
The Nigerian National Petroleum Company Limited has a new financial need of around N10 billion to cover the cost of…
Marketers Claim that Subsidy Removal has Increased Depot Gasoline Prices.
Since May 29 when subsidies were formally eliminated, gas prices at the pump have climbed by more than 100%. On…
As Saudi Arabia Reduces Production, OPEC Increases Nigeria’s Oil Supply.
On Sunday, OPEC+ members and non-members agreed to reduce crude oil production levels in order to maintain the stability of…
Removal of subsidies: Petrol shortage intensifies; black market prices N800/litre
Oil marketers closed their doors to vehicles after President Bola Ahmed Tinubu’s inaugural address on Monday, in response to his…
NNPCL Subsidiary Earns N256 billion in Sales – Report
The Nigerian National Petroleum Company Retail Limited, a retail component of the NNPC Limited group, earned N255.6 billion in revenue…
NNPCL, CNOOC, and SAPETRO renew oil production contracts in OML 130.
The Nigerian National Petroleum Company Limited announced the renewal of the Oil Mining Lease 130 Production Sharing Contract and conversion…
OPEC chief warns that global oil output is decreasing.
Haitham Al Ghais, Secretary General of the Organization of Petroleum Exporting Countries, has warned that world oil production capacity is…
Buhari begins oil drilling in the Chad Basin.
The oil drilling campaign in Wadi-B potential, Chad Basin, Tuba Community, Jere Local Government Area, Borno State, was launched by…
Oil prices stay constant as US reserves increase.
Brent crude increased 2 cents, or 0.7%, to $74.42 a barrel on the futures market. The price of West Texas…
Oil theft and shutdowns cost Nigeria N313 billion, and operators call for harsh sanctions.
Nigeria’s oil production output has drastically decreased as a result of rising oil thefts and labor unrest, costing the country…
The Nigerian President’s Order has Delayed the Return of the Benin Bronzes.
A presidential decree naming a royal ruler as the owner and custodian of all returned artifacts caused a British university…
Nigeria’s April Oil Production Fell Below 1mln bpd.
Following a strike at Exxon Mobil’s local facilities, Nigeria’s oil production dropped below 1 million barrels per day (bpd) in…
Nigerian Oil Production Falls for First Time in Seven Months.
Nigeria’s crude oil production fell by 38,102 barrels per day in March, a cumulative monthly loss of about 1,181,162 barrels,…
FG Eliminates the 5% Telecom Tax Exemption.
According to reports, the federal government will move forward with the introduction of a 5% excise tax on mobile phone…
A Tomato Shortage is Imminent as Farmers Lose N1.5 billion to Pest Disease.
Over 500 farmers lost a 300-hectare field worth N1.5 billion to the tomato Ebola known as “Tuta Absoluta,” which is…
Ioc: Nigeria Lost N2.3tn Revenue to Oil Theft in a Year.
Due to problems with pipeline vandalism and the ensuing oil theft, Nigeria lost the chance to produce and export roughly…
NNPCL: AKK Pipeline Construction Gulped $1.1bn.
According to Mele Kyari, group chief executive officer of NNPC Ltd., the Nigerian National Petroleum Company Limited has already invested…
Kyari: NNPC Deepens Investments in AKK, OB3, Others.
The Ajaokuta-Abuja-Kano-Kaduna (AKK) gas pipeline and the OB3 gas interconnector will accommodate five billion standard cubic feet of domestic gas…
Nigeria Produces 75% of Budget Target in Q1 Despite Low Oil Production.
Despite its difficulties, Nigeria was still able to produce 115 million barrels of crude oil in the first quarter of…
Russia Increases Gasoline Exports in Q1 and Replaces European Consumers With African Countries.
Following the European Union’s boycott on Russian goods on February 5, Russia increased exports of the motor fuel to African…
Despite Receiving N6tn in Subsidies, Fuel Prices have Increased by 81%.
According to National Bureau of Statistics figures analyzed by our correspondent, the cost of Premium Motor Spirit, also known as…