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...
OPEC’s crude oil production declined following a fire outbreak at Iraq’s Rumaila oil field in January, according to a Bloomberg report. The Organization of Petroleum Exporting...
Nigeria’s oil sector is set for a major shake-up as over 55 oil licences across various oil blocks in the Niger Delta approach their expiration before...
Africa’s largest crude oil producer, Nigeria, oil production is nearing its 1.5 million-barrel-per-day (bpd) quota set by OPEC+. This turnaround follows years of declining production driven...
Oil prices remained steady on Wednesday as investors assessed the potential impact of U.S. President Donald Trump’s newly announced energy policies. Brent crude oil, against which...
