NIGERIA'S reduced crude production in the first quarter of 2024 is due to issues with the Trans-Niger Pipeline (TNP), the Minister of State for Petroleum Resources, Heineken Lokpobiri, has claimed.Libya became Africa's top oil producer country for March with 1.24mn barrels per day (bpd),...
"Based on reference production of Nigeria of October 2018 of 1.829 million barrels per day of dry crude oil, Nigeria will now be producing 1.412 million barrels per day, 1.495 million barrels per day and 1.579 million barrels per day respectively for the corresponding periods in the agreement,"...
Based on reference production of Nigeria of October 2018 of 1.829 million barrels per day of dry crude oil, the minister added that the nation will be producing 1.412 million barrels per day, 1.495 million barrels per day and 1.579 million barrels per day between May and June, July and Decem...
Nigeria is the world's eighth largest crude oil producing countries, but it is one of the world's poorest countries. It is estimated that about 70 percent of the people in the total population are living below the poverty line. In the past 50 years, Nigeria's Niger Delta, mining refining...
Nigeria Crude Oil: Production was reported at 1,324.000 Barrel/Day th in Sep 2024. This records a decrease from the previous number of 1,352.000 Barrel/Day th for Aug 2024.
Crude oil (also referred to as petroleum) is a natural and sticky unrefined remain of ancient marine organisms. Since it was discovered in Nigeria some years back, it has changed the fortunes and outlook of the country. Of course, in itself, it is not useful – until it goes through cert...
The combination of pipeline vandalism and oil theft with a lack of investment in capacity has made Nigeria the biggest laggard in crude oil production in the OPEC+ alliance. Due to the underproduction, OPEC even reduced last year the quota for Nigeria’s oil production. An analysis ...
) released its latest monthly crude oil market report. The monthly report shows that despite OPEC+ implementing new voluntary production reduction measures, crude oil production increased by 203,000 barrels per day in February, reaching 26.57 million barrels per day, affected by Libya and Nigeria....
Nigeria (1971) Ecuador (1973) Gabon (1975) Angola (2007) Equatorial Guinea (2017) Congo (2018) Ecuador withdrew from the organization on Jan. 1, 2020. Qatar terminated its membership on Jan. 1, 2019, and Indonesia suspended its membership on Nov. 30, 2016. Angola has been the latest co...
Nigeria's Dangote Petroleum Refinery will be commissioned on Monday amid hopes of an end to the country's recurring fuel shortages, but a lack of crude supply poses a major risk to it achieving full production. Despite being Africa's biggest oil producer, Nigeria imports petrol, diesel and pr...