THE Minister of State for Petroleum Resources, Gas Chief Ekperikpo Ekpo on Wednesday urged oil and gas stakeholders to collaborate to meet the quota approved by the Organisation of Petroleum Exporting Countries (OPEC). Ekpo, who was represented by the…
INDIA’s crude oil import patterns have witnessed a notable shift in the financial year 2024–25, with the share of oil purchased from OPEC nations falling to an all-time low. This change comes as Indian refiners continue to rely heavily on…
OPEC+ will likely stick to its plan to raise oil output for a second consecutive month in May, four sources told Reuters, amid steady oil prices and plans to force some members to reduce pumping to compensate for past overproduction.…
THE Organisation of the Petroleum Exporting Countries (OPEC) has appointed Mr Ademola Adeyemi-Bero, Nigeria’s Governor for OPEC, as Chairman of the OPEC Board of Governors for 2025. Adeyemi-Bero’s appointment was confirmed at the 189th (Ordinary) virtual meeting of the OPEC…
Nigeria’s average crude oil production in May dropped to 1.25 million barrels per day (bpd) from 1.28 million bpd recorded in April 2024, according to direct communication from the Organization of Petroleum Exporting Countries (OPEC). This represents a decline of…
A financial expert, Mr Okechukwu Unegbu, has advised the Federal Government to consider pricing the country’s crude oil, in Naira in order to strengthen the local currency. Unegbu, a past president of the Chattered Institute of Bankers of Nigeria (CIBN),…
IN a bid to bolster its ranks amidst recent departures, the OPEC+ oil producers group is actively considering Namibia for potential membership, aiming to harness the country’s burgeoning oil potential, according to sources within the African energy industry. Recent discoveries estimated at…
NIGERIA’s oil production in the month of December 2022 grew by 4.2 per cent month-on-month to 1.23 million barrels per day but remained significantly short of the 1.8 million barrels per day allocated to the country by the Organisation of…
