Tag
OIL PRODUCTION
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says assets offered in its 2025 oil licensing round could add about 500 million barrels to Nigeria’s crude oil reserves and at least 300,000 barrels per day (bpd) of crude oil and condensate production within five years.
TotalEnergies SE, the global energy group, plans to increase its dividend by more than 5% annually through 2030 as it targets higher energy production and free cash flow over the period.
Nigeria’s oil production surged in February, exceeding its OPEC quota of 1.5 million barrels per day by 70,000 bpd, and contributing to the cartel’s increased output in February, a Reuters survey has found.
The Special Adviser to President Bola Tinubu on Energy, Olu Verheijen, has outlined efforts and plans of the...
The youths of the Ogoni ethnic nationality have demanded to be included in the plans of the Federal...
Nigeria’s crude oil production in the month of July rose to 1.307 million barrels of crude oil daily according to the monthly oil market report of the Organisation of Petroleum Exporting Countries (OPEC).
The federal government’s target revenue for 2024 is projected to decline by N3.89 trillion due to crude oil production not meeting the set target in the 2024 budget.
Nigeria’s average crude oil production for the month of April marginally rose to 1.281 million barrels daily according to the Organization of Petroleum Exporting Countries (OPEC) monthly oil market report for April.
Nigerian crude prices increased during the final trading session of the week due to rumors that Israel is preparing for a direct attack on Iran this weekend.
The Minister of state for Petroleum Resources, Sen. Heineken Lokpobiri has attributed the low crude oil production in the first quarter of the year to issues with the Trans-Niger pipeline and maintenance activities by some oil companies.
The Chief of Naval Staff, Vice Adm. Emmanuel Ogalla, has attributed the increase in oil production in the past six months to the good job of the Nigerian Navy in curtailing illegal petroleum product refining and oil theft in the oil-producing states.
Analysts at Focus-Economics have projected faster economic growth for Nigeria in 2024, based on increased oil production in the highlighted year.