Crude Oil

World oil demand grows by 5.7 mb/d in 2021 –OPEC

The Organization of the Petroleum Exporting Countries (OPEC) has disclosed that global oil demand growth in 2021 was 5.7 mb/d.…

4 years ago

NNPC targets 1.8mbpd production

 The Nigerian National Petroleum Company Limited has concluded plans to ramp up crude oil production to 1.8 million barrels per…

4 years ago

World Bank forecasts high oil prices until 2023

The World Bank has noted that the surge in oil prices may persist until 2023 and this could have an…

5 years ago

WTI crude oil sells for $70 per barrel

The West Texas Intermediate (WTI) oil was trading around $70 a barrel on Thursday, rebounding from two-month lows of near…

5 years ago

Nigerian oil output drops despite rising prices

Nigeria pumped 1.48 million barrels of crude oil in June, witnessing a significant drop in production compared to previous months,…

5 years ago

Shell’s pipeline spills 276 barrels of crude in April – report

The 14-inch crude trunk line operated by Shell Petroleum Development Company (SPDC) in the Niger Delta region spilt 276 barrels…

5 years ago

OPEC’s production increases as Iran ramps up output

The Organisation of Petroleum Exporting Countries’ (OPEC) crude oil production is estimated to have increased to a three-month high of…

5 years ago

TCN boss tasks W/African power pool members on increased electricity

Mr Sule Abdulaziz, acting Managing Director of the Transmission Company of Nigeria (TCN), has charged members of the West African…

5 years ago

Banks lend N130bn to oil firms in February, says CBN

Operators in the downstream, natural gas and crude oil refining sectors of the Nigerian oil and gas industry borrowed N130bn…

5 years ago

Nigeria’s crude oil output drops to 1.32m barrels daily

Nigeria’s crude oil output slumped to 1.32 million barrels per day in November, following the agreement reached by OPEC and…

5 years ago

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