Category Archives: crude oil

Nigeria’s crude oil output rise to 2.06m b/d in July — FG

By Ediri Ejoh with Agency report NIGERIA’s average oil production including condensates, increased to 2.06 million barrels per day (mb/d) last month, from 2.05 million b/d in June, as the country continued to ramp up production amidst retention of output concession from the Organisation of Petroleum Exporting Countries (OPEC), the Ministry of Petroleum Resources has […]

Crude oil production hits 2.2m bpd

…Oil prices rise, but high OPEC supplies temper gains By Sebastine Obasi & Chris Ochayi ABUJA—Crude oil  production in Nigeria is now 2.2 million barrels per day, the  Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, said yesterday. Baru’s declaration came as oil prices rose yesterday, supported by strong demand for gasoline, […]

Alleged crude oil theft: How Nigerian suspect splashed N29.024bn on yatch – US court documents

*Diezani warned against lavish spending’ *Suit seeks to recover N52.243bn in assets By Emmanuel Okogba and Nwafor Sunday, with agency report Court documents filed by the US Department of Justice in Houston have revealed that Nigeria’s former oil minister, Diezani Alison-Madueke, allegedly tried to warn Kola Aluko and Jide Omokore, her business partners, against lavish […]

W/Africa Crude: Nigeria’s July surplus gets smaller

Prince Okafor with Agency report A SURPLUS of Nigerian car-go for July loading is getting smaller after a drop in differentials boosted demand, traders said on Tuesday. According to Reuters, there were six to seven cargo of Nigerian crude for July loading, down from Monday’s estimate of 10-15. Oil pipeline The agency indicated that the number […]