The Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari has said the country has the potential to grow more than $1 trillion Gross Domestic Product (GDP) which is the target of President Bola Tinubu. Speaking at the ongoing 2025 Nigerian International Energy Summit (NIES) in Abuja, he said $1…
In December 2024, Nigeria met the crude oil production quota of the Organization of Petroleum Exporting Countries (OPEC) by 98.97 per. The cartel’s average daily quota for the month under review was 1.5million barrels per (mb/d) of crude oil. However, the country’s output was 1.48mb/d of crude oil, 49,276bpd of blended condensed, and 133,699 unblended…
Oil prices eased marginally by one per cent in volatile trade following weak economic news from the U.S. and Germany. Earlier in the day, crude prices were on track to close at 12-week highs on support from a weaker U.S. dollar and as a winter storm boosted demand for energy to heat U.S. homes and…
Oil prices turned positive on yesterday after falling by more than $2, despite U.S. crude stocks rising by more than expected, according to the Energy Information Administration (EIA). Brent crude oil futures were up 38 cents, or 0.5per cent, at $75.91 per barrel U.S. West Texas Intermediate (WTI) crude rose by 57 cents or 0.79per…
