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Meristem projects oil, banking sector gains amid rising crude prices

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Tag: Crude

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

Nigeria’s crude oil production hits 1.4mbd – OPEC

A report published by the Organization of Petroleum Exporting Countries, has revealed that Nigeria’s crude oil production will increase to 1.418 million barrels per day in December 2023. The PUNCH reported that Nigeria’s crude oil output grew by 100mb/d from 1.319mbpd in November, according to secondary sources cited by OPEC in its Monthly Oil Market Report for […]

Dangote refinery investors gain N1.2tn in two days
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Dangote to begin production as crude supply hits 6 million barrels

The Dangote Petroleum Refinery stated on Monday that it is ready to begin producing refined petroleum products after receiving the 6th batch of one million barrels of crude oil needed for the plant’s starting operations. According to The PUNCH, “Dangote refinery appears set to commence production of refined petroleum products with the receipt of the […]

Dangote Refinery's polypropylene to enter market
Oil and Gas

Dangote Refinery receives fifth crude oil shipment 

The Nigerian National Petroleum Corporation Limited delivered the fifth crude oil shipment of one million barrels of Bonny Light to Dangote Petroleum Refinery on Thursday. The firm is currently planning to welcome the sixth million barrels of crude oil to the refinery by next week. This recent discovery is an important step forward for the […]

Dangote refinery receives one million crude barrels
Oil and Gas

Dangote refinery receives one million crude barrels

The Nigeria National Petroleum Corporation Limited delivered the fourth shipment of one million barrels of bonny light crude oil to the Dangote Petroleum Refinery on Monday. The PUNCH reported that according to a statement from the $20 billion enterprise, the fifth crude oil cargo is expected soon. The plant had previously received three shipments of […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

FG targets 1.7mbpd crude despite Nov output drop

The Federal Government declared on Tuesday that Nigeria would meet and exceed the 2024 crude oil budget benchmark of 1.7 million barrels per barrel despite a marginal decline in oil output in November 2023. The Punch reported that the Nigerian Upstream Petroleum Regulatory Commission released new data on Tuesday, which indicated that the country’s crude oil […]

Uncategorized

Nigerian crude production drops 9.65% to 40.12mbd

The total crude oil production was reported to be down 9.65% m/m to 40.12m from 44.40m in June 2023 and down 1.52% y/y to 40.74mn in July 2022. This is despite a significant increase in oil rig count to 14 in Q1 2023 from 8 in Q1 2022, according to the Organisation of the Petroleum Exporting Countries […]

Oil and Gas

Nigeria’s crude production falls to 1.3m bpd

Nigeria’s crude oil output fell to 1,294,162 barrels per day in July 2023. This is according to the Nigerian Upstream Petroleum Regulatory Commission. Data revealed that during the highlighted month, Nigeria produced 1,081,396 barrels of crude oil daily, along with 38,258 barrels and 174,509 barrels of blended and unblended condensates, respectively. For the entire month, […]

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