NNPC Ltd, OPEC Pledge Collaboration to Attract Investments, Grow Production
Feb. 28, 2024 The Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Organization of the Oil Exporting Countries (OPEC) have pledged to work closely together to achieve the nation’s…
Oil demand growth slowing as non-OPEC supply expands – IEA
February 15, 2024 Global oil demand growth is losing momentum, the International Energy Agency (IEA) said on Thursday as it trimmed its 2024 growth forecast, in sharp contrast to the…
Nigeria has the potential to produce 2.2 mln oil bpd – NUPRC boss
Feb. 13, 2024 Mr. Gbenga Komolafe, the Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria has the potential to produce 2.2 million bpd as against the current production…
OPEC Secretary General believes long-term demand outlook is robust
February 13, 2024 Saudi Arabia’s decision to postpone oil capacity expansion plans should not be interpreted as an assessment that demand for crude is falling, OPEC’s Secretary General said on…
Iraq committed to OPEC, will not produce more than 4 mln bpd -minister
February 12, 2024 Iraq is committed to OPEC decisions and after its second voluntary cut announced in December it is also committed to producing no more than 4 million barrels…
OPEC+ committee meeting keeps oil output policy unchanged
February 1, 2024 A committee of OPEC+ ministers proposed no changes to the group’s oil output plans at a meeting on Thursday. Leading ministers from the Organisation of the Petroleum…
OPEC sticks to 2024 oil demand view, sees more growth in 2025
Jan. 17, 2024 OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and said 2025 will see a “robust” increase in oil…
NNPC Ltd. allocates four February crude oil cargoes to Dangote
January 10, 2024 The Nigeria National Petroleum Company Limited (NNPC Ltd) is expected to supply four crude cargoes from its February programme to the $20 billion Dangote refinery, which is…
Oil tries to regain footing as Middle East crisis, OPEC supply in focus
Jan. 9, 2024 Oil prices steadied on Tuesday after sliding in the previous session, as markets weighed Middle East tensions against demand worries and rising OPEC supply. Brent crude futures…
Nigerian oil firms to be required to supply 483,000 bpd to local refineries
Dec. 29, 2023 Nigerian oil producers will be required to supply 483,000 barrels per day (bpd) to local refineries in the first six months of 2024, new regulations showed on…