Nigeria has again failed to meet its 1.5 million bpd crude oil production quota approved by the Organisation of the Petroleum Exporting Countries (OPEC). In its National Liquid Hydrocarbon Production Report released yesterday, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed that average daily crude oil production hovere...
The Organisation of Petroleum Exporting Countries (OPEC) and its allies, OPEC+, have agreed to increase oil output by 188,000 barrels per day in June. The development was conveyed in a statement by the group yesterday, as it pushes on with production in the first meeting since the loss of its key member, the United Arab […]
The Chairman of the OPEC Board of Governors for 2025 has called on Nigerian oil producers to prioritise domestic refining and value creation instead of exporting raw crude. Speaking yesterday at the Nigerian Association of Petroleum Explorationists Pre-Conference Workshop in Lagos, Adeyemi-Bero, who is also the Chief Executive Officer of First...
Nigeria’s revenue and those of crude-dependent economies will experience a drop as oil prices slide again today, the third day since the start of the week. Drop in prices rode on the back of doubts about the effectiveness of Russia sanctions and a potential OPEC+ output increase, putting pressure on the market, reports Channels TV. […]...
Several members of the Organisation of Petroleum Exporting Countries (OPEC) will suggest accelerating oil output hikes in June for a second consecutive month, three sources familiar with the matter told our correspondent. Oil prices fell to a four-year low this month April, weakened by a US-China trade war and the unexpected decision by OPEC+,...
•Dangote refinery The Organisation of Petroleum Exporting Countries (OPEC) has said supplies from Nigeria-based world’s largest single-train Dangote Refinery and Petrochemicals will put pressure on the performance of Europe’s oil industry, especially the Northwest Europe (NWE) Gasoil. OPEC in its newly released monthly Oil Market Report for Ju...
The Organisation of Petroleum Exporting Countries(OPEC) said Nigeria’s crude oil production month-on-month dropped by 7.94% to 1.322 million barrels per day, bpd in February 2024, from 1.427 million bpd in January 2024. Nigeria was among several countries, given a lower target after years of failing to meet the previous ones. Its 2024 target w...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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