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September 2,2023. THE Organisation of Petroleum Exporting Country, OPEC, has identified Nigeria, a leading African oil producer, as the least refining member with an average equivalent of 10,600 barrels per day, bpd in five years. The nation refined an equivalent of 33,000 bpd, 8,000 bpd, 1,000 bpd, 5,000 bpd and 6,000 bpd in 2018, 2019, |

At petrol stations operated by independent marketers, pump price was hiked to between N315 and N370 per litre with the topmost price range recorded in other parts of the country outside Lagos and Abuja.

The downstream end of the Nigerian petroleum industry has gone into a frenzy as operators respond to the immediate removal

This is on the physical side of the oil market. On the financial side, we have been observing an accelerated trend in speculative trading, with investors and other players trading futures and options at faster rates, sometimes severely impacting market liquidity and hindering price discovery mechanisms.”

By Dayo Ayeyemi PERTURBED by the increase in fake adverts on radio and Television stations on real estate products, the Executive Director, Housing

Chennai (Tamil Nadu) [India], November 29 (ANI/NewsVoir): LifeSpice India Pvt

By Udeme Akpan Despite its over 200 trillion standard cubic feet, scf of gas reserves, Nigeria’s daily gas production dropped to 7,574.68 million metric standard cubic feet, mmscf in 2020, based on data collated from the monthly reports of the Nigerian National Petroleum Corporation, NNPC. Year-on-Year, YoY, the output produced by the Joint Ventures, JV, Production Sharing Contracts companies and Nigerian Petroleum Development Company, NPDC, showed a drop of 4.43 per cent compared to 7,918.34...

Translate Nigeria’s daily gas production drops to 7,574.68 mmscf — Investigation On By Udeme Akpan Despite its over 200 trillion standard cubic feet, scf of gas reserves, Nigeria’s daily gas production dropped to 7,574.68 million metric standard cubic feet, mmscf in 2020, based on data collated from the monthly reports of the Nigerian National Petroleum Corporation, NNPC. Year-on-Year, YoY, the output produced by the Joint Ventures, JV, Production Sharing Contracts co...

Vanguard News Lack of funds, feedstock, hinder construction of 32 refineries On Kindly Share This Story: By Udeme Akpan, Energy Editor AS Nigeria continues to record high level of expired refinery licences, experts, Tuesday, identified lack of funds and feedstock, as factors militating against the construction of new plants. The experts, who expressed their positions in different interviews with Vanguard, said such investors have the right to reapply for the renewal of their licences. Specific...

Vanguard News Oil revenue to remain subdued as output dips 15% On     Despite the recent rise in oil prices, there are strong indications that Nigeria is not likely to be out of the woods in its petroleum revenue performance and budget funding, due, mainly to the significant drop in its oil output. The Vanguard Public Finance Report has indicated that the sector recorded a 15 percent output decline in the first 11 months of this year. A breakdown showed that the nation produced an average ...