Major oil companies around the world have recorded sharp drops in profit in the first quarter of 2025, as the fall in global oil prices and rising production costs continue …
The Organisation of the Petroleum Exporting Countries (OPEC) has slightly reduced its earlier forecast for global oil demand in 2025. According to its Monthly Oil Market Report released on Monday, …
Libya has announced plans to hold its first oil exploration bidding round in nearly two decades, a major step towards reviving its energy sector. The announcement was made on Monday …
Nigeria faces a staggering economic setback following a pipeline explosion in Rivers State, potentially leading to losses exceeding $35.3 million daily. The incident, which significantly hampers oil exports from the …
Oil prices turned positive on Monday as rumours of an OPEC+ production cut offset concerns about slump in global demand. Earlier on Monday, oil prices fell to their lowest level …
Nigeria now ranks seventh on Organization of the Petroleum Exporting Countries’ crude oil production list, according to the organization’s Monthly Oil Market Report for November, which examined oil production performance …
The Nigeria-Morocco Gas Pipeline is set to receive a total investment of $25 billion next year, according to the head of the West African nation’s state oil company. Discussions for …
The Organisation of Petroleum Exporting Countries(OPEC)+ will consider an oil output cut of more than a million barrels per day (bpd) when it meets tomorrow for the first time in …
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.183 million barrels per day (bpd) in July 2022. OPEC made this …
The Organization of Petroleum Exporting Countries, OPEC and its allies, have increased Nigeria’s oil quota to 1.830 million barrels per day, mb/d in September 2022, from 1.826 mb/d in August …