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Commodities
Nigeria Slides to Seventh on the List of OPEC Producers.
According to the organization's Monthly Oil Market Report for November, which looked at oil production results in…
Buhari to Officiate First Oil Drill in Northern Nigeria.
Nigeria's first crude oil well will be launched and inaugurated by President Muhammadu Buhari. This marks the…
A Fuel Depot in Southern Russia has Exploded.
According to Russian authorities, a fuel depot exploded in southern Russia near Ukraine. This is a result of a…
A Scarcity of Raw Resources Affects Manufacturing Enterprises.
Due to a lack of foreign currency, manufacturers are experiencing severe raw material shortages, which is hurting…
Kenyan Businessmen Pay Exorbitant Prices for Ethiopian Miraa for the Somalia…
As high prices in Kenya drive them to give up the local crop, Miraa dealers have moved to Ethiopia as a source…
Uganda Shilling Increases as Oil Prices Decline.
The rise in the import bill brought on by a significant increase in oil imports and the high cost of debt…
FG Charges 16 Foreigners with Oil Theft and Detains the Vessel.
16 foreigners have been charged by a Federal High Court in Port Harcourt, Rivers State, with offenses that include…
Nigeria’s Oil Production Increases to 1million Barrels Per Day.
For the first time since June of this year, Nigeria's oil output increased in October to 1. 02 million barrels per…
Queues Persist as Petrol Stock Dips by 5.48m litres
According to market statistics issued, the Nigerian National Petroleum Company Limited's stock of Premium Motor…
Oil Theft: Vessel Arrested In Equatorial Guinea Is On Its Way Back To Nigeria,…
A supertanker detained by Equatorial Guinean authorities for allegedly transporting crude into Nigeria, is the…
OPEC: Half of Africa’s Refining Output will come from Dangote’s…
According to the Organization of Petroleum Exporting Countries (OPEC), more than half of Africa's total extra…
Nigeria Loses 120million Barrels of Petroleum and $12.6billion in Nine Months.
Between January and September of this year, Nigeria lost no less than 120 million barrels of crude oil; due to a…
Segilola Produced 85,000 Ounces of Gold.
The Segilola Gold Mine, which Thor Exploration Limited commissioned in December 2021, has so far produced 85,000…
Ukraine Charges Russia of Impeding the Full Execution of the Grain Agreement.
Ukraine said that seven ships left its ports with grain intended for Asia and Europe; but claimed that Russia was…
In September, Nigeria’s Daily Crude Oil Production Decreased to 937,766bpd.
Due to theft, Nigeria's crude oil production output for the year remained dismal in September, with an average of…
Russia will Benefit the Most from OPEC+’s Reduction in Oil Production.
Deep oil production cuts unexpectedly agreed to by OPEC+ this week are expected to benefit Russia the most while…
Nigerian Senate Authorizes The $73 per barrel Oil price.
Prior to the President presenting his proposed budget for 2023, the Senate adopted the Fiscal Strategic Paper and…
Oil Pipeline Operating Illegally for Nine Years Found by NNPC.
The Nigerian National Petroleum Company Limited (NNPC) claims to have discovered a loading port; and a 4-kilometer…
OPEC+ Plans Significant Production Cutbacks.
Notwithstanding demands from the United States and others to generate more oil, OPEC+ appears prepared to…
Oil and Gold Suffered Significant Q3 Losses.
After a surprise stronger U.S. Inflation reading for August bolstered predictions for more astronomical Federal…
NNPC Recorded 8million Barrels of Oil Production Losses In July.
According to the Nigerian National Petroleum Company (NNPC) Limited; output losses at crude oil terminals totaled…
Oil Drops To $86 Per Barrel.
When compared to the number of operational rigs in July 2022, statistics from the September 2022 Oil Market Report…
Oil Prices Increase As Additional Troops Are Mobilized By Putin.
Following Vladimir Putin's announcement that there will be a partial military deployment across the nation, oil…
Nigerian Petrol Suppliers Are Closing Down For Green Energy.
Due to a demand for green energy, the majority of refineries supplying Premium Motor Spirit to Nigeria are ceasing…
According To NNPC, Nigerians Will Not Face Fuel shortages.
According to the chief financial officer of NNPC Ltd. In Abuja, the Corporation has taken steps to maintain the…
Nigeria’s Oil Output Plummets To 900,000b/d.
According to statistics provided by direct sources, Nigeria's crude oil production decreased from 1 million…
Saudi Arabia Surpasses Russia To Become India’s No. 2 Oil Supplier.
The third-largest oil importer and consumer in the world, India, imported 863,950 barrels of petroleum per day…
Senate Opens An Investigation Into Niger Delta Oil Theft.
Nigeria suffered significant financial losses as a result of the widespread theft of its crude oil; and it was…
Oil Exploration In Nigeria Begins To Decline As Rig Count Falls.
The global upstream sector of the petroleum industry (OPEC) uses the rig count; as a key indicator of exploration…
Nigeria’s Oil Production Falls To A Record Low Of 972,394 Bpd.
In comparison to July 2022 output of 1. 08 million barrels per day, the decrease is more than 10%, and it is less…