Oil prices extended last week’s losses on Monday as investors remained cautious over ongoing diplomatic efforts to resolve the Russia-Ukraine conflict and the potential resumption of...
Oil prices edged lower on Thursday as a larger-than-expected build in U.S. crude stockpiles dampened market sentiment. Brent crude oil, against which Nigerian oil is priced,...
Brent crude traded near $75 a barrel on Tuesday as OPEC+ considered delaying a planned output hike while a Ukrainian drone strike on a Russian crude-pumping...
Nigeria’s crude oil production has reached 1.75 million barrels per day (BPD) with gas production at 7 billion standard cubic feet per day (SCFD), according to...
Oil prices declined by about 1% on Thursday on possible peace talks between Ukraine and Russia and concerns about rising crude inventories in the United States....
Oil prices climbed on Monday as investors appeared to have discounted escalating trade tensions by U.S. President Donald Trump’s tariff threats. Brent crude futures rose by...
Nigeria’s crude oil production declined for the second consecutive month in January 2025. According to Reuters, crude oil production declined by 60,000 barrels per day (bpd)...
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that oil and gas companies operating in the country owe the Federal Government $6.1 billion in unpaid...
The cost of producing a barrel of crude oil has risen to $40 per barrel in Africa’s largest economy as investments in modern equipment slow. The...
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused oil producers of diverting 500,000 barrels of crude oil meant for local refining to...
