Nigeria's oil production has recovered significantly in recent months, reaching a 2024 high of 1.7 million bpd in November, due to a crackdown on oil theft and pipeline vandalism.
NIGERIA may face a significant cut in crudeoil production quotas for 2024 at the upcomingOrganisation of Petroleum Exporting Countries(OPEC)The threat results from Nigeria's failure tomeet its assigned quotas ahead of the November2023 deadline and the 25th OPEC+ meeting,due to be held on ...
150/litre depending on the area of purchase, following the hike in the cost of the commodity by the Dangote Petroleum Refinery and various depot owners. Dealers confirmed on Saturday that PMS prices would continue to rise since the major component in fuel production, crude oil, has been on ...
For instance, OPEC (Organization of the Petroleum Exporting Countries) announced that crude oil production in Nigeria increased by about 2.55 million barrels in November 2021. In 2019, the China National Offshore Oil Corporation mobilized a USD 3 billion investment and the USD 14 billion already ...
Nigeria’s “Oil Curse”: ‘Paradox of Plenty’ or ‘Poverty of Paradox’? March 26, 2024 9News Nigeria 0 By Richard Odusanya Nigeria is blessed with vast natural resources and rich environments. It is generously endowed with productive land and valuable natural resources, which Read more...
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By 2050 Africa’s most populous nation could have nearly 400 million people squeezed into a country one-tenth the size of the United States
production of oil and gas, as a result of which many filling stations in the country remain closed. The production of premium motor spirit (PMS) or petrol also has remained stagnant with very little growth. Factors such as rehabilitation and up-gradation of existing refineries help the ...