Tag Archives: Nigeria

Pointing to the signing of a memorandum of understanding (MoU) between Iran an Nigeria on cooperation in variou fields including exports of technical and engineering services and petrochemical products (Urea), Iranian Oil Minister said, “The two countries have great capacities that can use them to expand bilateral relations in the …

African energy giants Algeria, Nigeria and Niger signed a memorandum of understanding Thursday on a vast gas pipeline project offering Europe potential future alternatives to Russian supplies, state media reported. The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres from Nigeria in West …

Nigeria has, more than ever before, been exposed as a country that is unable to meet its OPEC’s quota of 1.772 million. It is unable not take advantage of the looming Russian oil ban to ramp up its revenue. Following the war between Russia and Ukraine, the European Commission recently …

Nigeria may lose its largest crude oil buyers, China and India, as both countries plan to negotiate Russian oil at discount prices. India is said to be asking Russia for below $70 per barrel discount price. The duo’s move comes as Europe considers banning Russian oil due to the country’s …

The Organisation of Petroleum Exporting Countries (OPEC) has revealed that Nigeria’s crude oil production fell to 1.417 million barrels per day in the month of February compared to 1.427 for the month of January. OPEC revealed this in its Monthly Oil Market report, warning that disruption to global trade flows …

Nigeria is to ramp up crude oil production following the agreement reached by members and allies of the Organisation of Petroleum Exporting Countries to increase output. Nigeria is a long time member of OPEC, collaborating with the organisation for more than 50 years running. OPEC and its allies had agreed …

The decline of Angola, from being Africa’s top crude producer five years ago to barely pumping more than war-torn Libya today, shows the heavy toll of a slump in oil-industry investment. The nation’s production has fallen by more than a third since 2015, when international oil companies started slashing investment …

For Africa’s biggest oil-producing country, the idea of looking for oil miles into the sea may be off the table this year, thanks to a wave of bankruptcies facing the global offshore industry. The global offshore industry is currently struggling as some of the biggest offshore drillers struggle with low …

For the first time in many years, the Organisation of Petroleum Exporting Countries, OPEC, has confirmed Nigeria’s ability to cut its output from 1.7 million barrels per day, mb/d in May to 1.4mb/d in June 2020. In its July Oil Market Report obtained by Vanguard, OPEC stated that the data …

Again, experts are warning that Nigeria as a country is slipping away in the face of global competition among the oil-producing countries. They are of the opinion that Nigeria remains a country to watch in view of the global COVID19 Pandemic. Because she may not be able to withstand the …