OPEC+

3 Minutes

Extra

Nigeria’s Oil Output Surges 4%, Hits OPEC Quota

Akanji Philip February 13, 2025

Nigeria’s oil output, including condensate, increased month-on-month (MoM) by 4 per cent to 1.737 million bpd in January 2025, from 1.667 million bpd recorded in the preceding month of December 2024. However, on...

10 Minutes

Extra

Nigeria’s Rising Oil Output Falls Short of OPEC Quota Despite Reforms

Akanji Philip January 13, 2025 0 Comment

Nigeria’s daily average oil production rose by 7.38 percent year-on-year in December 2024 to 1.667 million barrels per day, bpd from 1.552 million bpd, including condensate, recorded over the corresponding period in 2023. ...

1 Minute

Business

OPEC: Angola, Libya overtake Nigeria in crude production

Akanji Philip September 14, 2022 0 Comment

Nigeria’s oil production plunged to 972,000 barrels per day in August 2022, as Angola and Libya overtook Nigeria by producing higher volumes of crude during the review month, the Organisation of Petroleum Exporting Countries...

3 Minutes

Local News

Oil price falls, OPEC raises Nigeria’s production quota— Report

Akanji Philip August 4, 2022 0 Comment

The Organisation of Petroleum Exporting Countries on Wednesday raised Nigeria’s crude oil production quota for September 2022 to 1.83 million barrels per day, as Brent, the global benchmark for crude, dropped in price the...

2 Minutes

National

Nigeria, Iraq claim OPEC not need to boost oil production significantly

Akanji Philip February 23, 2022 0 Comment

There is no need for the Organisation of Petroleum Exporting Countries to be more aggressive in its production of crude oil, energy ministers of Nigeria and Iraq have said. Bloomberg reported on Tuesday...

National -2 Minutes

OPEC+ snubs Biden’s call for bigger oil output, Nigeria thumbs

Olorungbotemi November 5, 2021 0 Comment

Nigeria joined the Organisation of Petroleum Exporting Countries and its allies (OPEC+) to rebuff pressures from the United States government to ramp up the global oil supply. On Thursday, OPEC+ decided to...