Business

Federal workers demand N300,000 minimum wage, payment of

  • 6th July 2026

NIPOST boss faces prison threat over alleged disobedience

  • 6th July 2026

Manufacturers embrace local sourcing to cut high import

  • 6th July 2026

OPEC+ approves 188,000bpd oil output increase for August

  • 6th July 2026

Contact Info

Some Populer Post

Tinubu orders ICPC to probe ‘fake’ presidential council

featured News

PHOTOS: First Lady harvests vegetables from villa farm

Agribusiness featured

Tegbe’s appointment will reposition power sector, says OAU alumni

Opinion

NPO hails Tinubu’s directive to probe Meta, Alphabet, X

Policy and Regulations

Tag: OPEC

News Oil and Gas

Nigeria’s crude oil production hits 1.3m bpd in July – OPEC 

Nigeria’s crude oil production in July increased to 1.307 million barrels per day, according to the Organisation of Petroleum Exporting Countries’ monthly oil market report. According to the report, the country increased its production by 30,000 barrels per day compared to the previous month’s total of 1.276 million barrels per day in June 2024. The […]

News Oil and Gas

Nigeria’s crude oil production jumps to 1.27m barrels daily – OPEC

Nigeria’s average daily crude oil production in June increased modestly to 1.276 million barrels. This marks a mere 25 thousand barrels per day increase over the 1.251 million barrels per day recorded in May, according to OPEC’s monthly oil market primary data report for June 2024. According to secondary sources, Nigeria’s daily average crude oil […]

Oil and Gas

Nigeria’s oil production dips to 1.25mbpd – OPEC

Nigeria’s daily oil production fell further to 1.25 million barrels per day in May, according to a report by the Organization of Petroleum Exporting Countries. According to OPEC figures, Nigeria lost 30,000bpd in oil production, which fell from 1.28mbpd in April to 1.25mpd in May. This, however, is contrary to the claims by the Federal […]

Oil and Gas

Nigeria’s crude oil production rise to 1.28m/b in April – OPEC

The Organization of Petroleum Exporting Countries monthly oil market report has revealed that Nigeria’s average crude oil production for  April slightly rose to 1.281 million barrels a day. Crude oil production rose by 51 thousand barrels a day from 1.231 million bt to 1.281 mbd, according to direct information provided by the federal government. However, […]

Oil and Gas

FG faults pipelines issue for oil production decline

The Federal Government has attributed the decline in crude oil production in Nigeria to the disruption of the Trans Niger Pipeline, as well as the maintenance activities carried out by some oil companies. This was disclosed in a statement by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri in Abuja by his Special […]

Energy

Energy transition must be just, equitable, says OPEC

As world leaders continue in the pursuit of alternative energy, the Organization of the Petroleum Exporting Countries, Governor for Nigeria, Ambassador Gabriel Aduda, has said that energy transition must be just and equitable, enabling countries to develop energy sources available to them responsibly. Aduda, in a statement, said that, climate change enthusiasts must recognize fossil […]

featured Uncategorized

Nigeria’s crude oil output drops 7% in February – OPEC

Nigeria’s crude oil production, excluding condensate decreased month-on-month by 7 per cent to 1.3 million barrel per day in February 2024, from 1.4 million barrels per day recorded in January; despite the efforts of the federal government to increase oil production. This was disclosed by the Organization of the Petroleum Exporting Countries in its March […]

OPEC+ weighs 2027 production baselines, potential hike
News

Saudi Arabia, Russia lead OPEC in extending oil cuts

The OPEC+ nations, led by Russia and Saudi Arabia, have agreed to extend the current voluntary cuts in oil output for a further three months in an attempt to raise prices. These have remained low due to ongoing geopolitical disputes in Europe and the Middle East. According to the official news agency of Saudi Arabia, […]

FG's 1,068 oil projects to generate $22.8bn investments
Oil and Gas

FG’s 1,068 oil projects to generate $22.8bn investments

By Melvin Onwubuke   The Federal Government has announced that 1,068 oil and gas projects approved between 2022 and 2023 are expected to generate a total of $22.8 billion. This was disclosed by Gbenga Komolafe, Chief Executive, Nigeria Upstream Petroleum Regulatory Commission, during the panel session at the ongoing 7th Nigeria International Energy Summit in […]

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 […]

Angola announces exit from OPEC
featured

Angola announces exit from OPEC

    By Wilson Adekumola   Angola has disclosed that it would leave OPEC over a disagreement on production quotas following the oil cartel’s decision last month to further slash output next year. Mineral Resources and Petroleum minister Diamantino Azevedo, who disclosed this on Thursday noted that the decision was not taken lightly, but OPEC […]

OPEC+ weighs 2027 production baselines, potential hike
Business

Nigeria, Iran drive OPEC’s oil production increase in September

A Reuters survey has revealed that oil production output from the Organisation of Petroleum Exporting Countries increased in September 2023 due to rises from Nigeria and Iran. According to the survey’s findings, OPEC’s oil output increased for the second consecutive month in September 2023, despite key members like Saudi Arabia, Russia, and other members of the larger […]

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Email Us: [email protected]

ambusinessng @2025. All Rights Reserved.

Facebook-f Pinterest-p Youtube Instagram Linkedin-in