African Refiners and Distributors Association (ARDA), yesterday, said the continent must urgently harmonise sulfur content in petroleum products as sulfuric content in premium motor spirit (PMS) and diesel peaks at 10,000 parts per million (ppm) as against 10 ppm in developed Read More
OPEC+ set Nigeria’s oil production quota at 1.5mbpd
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have set Nigeria’s crude oil production quota at 1.5 million barrels per day (mbpd) until December 2025. According to a report from CSL research, OPEC+ set the oil production Read More
Nigeria’s oil hits 1.33 mbpd, pushes OPEC output to 26.63mbpd
Nigeria’s oil production in May increased by 50,000 per day (bpd) to lift the output of the Organisation of Petroleum Exporting Countries (OPEC) to 26.63 million bpd. Nigeria and Iraq both pumped 50,000 bpd above their April production as OPEC Read More
Security, finance and Nigeria’s bumpy road to cleaner energy
Nigeria’s population has been projected to more than double in the coming decade. This development is expected to among other implications escalate energy demand and increase pressure on revenue. The post Security, finance and Nigeria’s bumpy road to cleaner energy Read More
OPEC slams IEA over oil sector position
OPEC Secretary General, Haitham Al Ghais, has criticised the International Energy Agency (IEA) for its recent statement, stating that it overly focuses on specific issues and unfairly blames the oil and gas industry for the climate crisis. The post OPEC Read More
Nigeria’s improved output pushes OPEC oil production to 27.73m bpd
.Local crude output soars by 110,000bpd Nigeria has increased its crude oil output by about 110, 000 barrels per day, stabilising the global oil market and pushing the Organisation of Petroleum Exporting Countries (OPEC) output to 27.73 million barrels per Read More
OPEC projects increased demand for fuel-based vehicles
Despite the push from fossil fuel due to net-zero concerns, Organisation of Petroleum Exporting Countries (OPEC) has said demand for the products would continue to power the transportation sector. The post OPEC projects increased demand for fuel-based vehicles appeared first Read More
Kragha: Why Africa must harmonise energy fiscal governance, end ‘dirty’ petrol
Anibor Kragha, a former Chief Operating Officer (COO) in charge of Refining and Petrochemicals, Nigerian National Petroleum Company Limited, is currently the Executive Secretary of the African Refiners and Distributors Association (ARDA). The post Kragha: Why Africa must harmonise energy Read More
OPEC insists on $12.1 trillion investments to fund oil sector
The Organisation of Petroleum Exporting Countries (OPEC) has reiterated the need to pump more money into the oil sector, stressing that about $12.1 trillion investment is sacrosanct to keep the sector afloat. The post OPEC insists on $12.1 trillion investments Read More
Oil prices dismal over demand uncertainties
Crude oil prices at the international market are sliding as demand uncertainties triggered by Covid-19 related protests hit China. Anger over China’s zero COVID-19 policy has intensified, sending residents in major cities.. The post Oil prices dismal over demand uncertainties Read More