crude oil
Crude Oil price Decreases By 20% to $67 per barrel
Bonny Light Crude Oil Prices Plummet, Raising Concerns Over Nigeria’s 2025 Budget Projections
The price of Bonny Light, Nigeria’s leading crude oil, has seen a significant decline of 20 percent, dropping from $84.02 per barrel to $67 per barrel … Continue Reading
FG Takedown oil theft to 5,000 barrels per day
Nigeria’s Crude Oil Production Skyrockets to 1.7 Million Bpd as Oil Theft Drops to 5,000 Barrels Per Day
Abuja – Nigeria’s upstream petroleum regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has made a significant breakthrough in reducing oil theft … Continue Reading
NNPC and Chevron Discover New Oil Reserves in Niger Delta
Significant Oil Discovery in Nigeria’s Western Niger Delta: NNPC-CNL Joint Venture Strikes Gold with Meji NW-1 Well
The NNPC Limited and Chevron Nigeria Limited Joint Venture (NNPC-CNL JV) has announced a noteworthy near-field oil discovery following the successful drilling of … Continue Reading
Oil Theft: FG seals $21m deal to meter 187 flow stations
In a major bid to curb oil theft and boost revenue in the Niger Delta region, the Nigerian government has approved a $21 million contract to install meters in 187 flow stations across the region. The Minister of Petroleum … Continue Reading
Nigeria loses N636bn revenue as crude oil production drops
Nigeria’s oil production has been on a downward trend since January 2024, leading to a significant revenue loss of about N636.3 billion. According to data obtained from the Nigerian Upstream Petroleum Regulatory Commission, the country’s crude oil production dropped … Continue Reading
Nigerian Navy Apprehends Ghanaian Vessel with 2 Million Litres of Stolen Crude Oil
The Nigerian Navy has intercepted a Ghanaian vessel, the Motor Tanker SWEET MIRI, on suspicion of crude oil theft. The vessel, with a crew of 13 members comprising one Ghanaian and 12 Nigerians, was apprehended off the coast of Nigeria, … Continue Reading
Dangote Refinery Commences Production, Marks Milestone with Fifth Crude Oil Shipment
The Dangote Refinery and Petrochemical Company officially commenced production on Friday, following the reception of its fifth crude oil shipment.
The Nigerian National Petroleum Corporation Limited supplied one million barrels of Bonny Light for the state-of-the-art refinery.
The 650,000 barrels … Continue Reading