OPEC

The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, has called on African nations to ramp up investments in their oil and gas sector to unlock the continent’s estimated 120 billion barrels of proven oil reserves. Speaking at the Nigeria International Energy Summit (NIES) 2025 in Abuja on Tuesday, Al-Ghais highlighted Africa’s vital role in ...

……by Ben Ndubuwa……. Nigeria’s crude oil production, including condensates, rose by 11% in November 2024, according to the Organization of the Petroleum Exporting Countries (OPEC). The monthly oil market report revealed an increase from 1.333 million barrels per day in October to 1.486 million barrels per day in November, marking a daily rise of 152,000 barrels. The Nigerian Upstream Petroleum ...

The Organization of Petroleum Exporting Countries (OPEC) has confirmed a marginal output increase in Nigeria’s oil production but however reported output falls in December on UAE and Iran, survey finds. Among countries boosting output, Nigeria raised production by 50,000 barrels a day (bpd) the survey found, reflecting higher domestic usage in refineries such as Dangote and higher exports. Nigeria said ...

Photo L-R: Salahudeen Tahir, Society of Petroleum Engineers (SPE) Chairman, Nigeria Council 2024; Debo Fagbami, SPE Chairman Nigeria Council 2019; Chigozie Dimgba, CEO, Polaris Integrated and GeoSolutions Ltd (PIGL); Nnenna Dimgba, Executive Director, PIGL; Olalekan Olafuyi, SPE Chairman Nigeria Council 2022; & Damian Enaholo, ND Western at the PIGL 20th anniversary dinner held in Lagos recently… The Independent Petroleum Producers ...

OPEC cut its forecasts for oil demand growth this year and next on Wednesday, highlighting weakness in China, India and other regions in the producer group’s fifth consecutive downward revision. The weaker outlook highlights the challenge facing OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia. OPEC+ earlier this month delayed its plan to ...

Oil prices traded flat on Thursday afternoon as OPEC+ made a significant move, delaying its planned output increase by three months and extending the full unwind of production cuts by a year until the end of 2026. Brent crude for February delivery rose by a marginal 0.06%, trading at $72.35 per barrel at 14:06 ET, while West Texas Intermediate (WTI) ...

The Independent Petroleum Producers Group (IPPG) commended the leadership of Engr. Gbenga Komolafe, the Commission Chief Executive of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for tireless efforts and unwavering commitment to the growth and development of the oil industry. IPPG made this commendation during the third year anniversary celebration of NUPRC. According to the independent petroleum producers, the Commission has ...

Photo: L-R Lagos State Commissioner for Energy, Biodun Ogunleye; Transcorp Power President, Dr. OwenOmogiafo; Minister of Power, Adebayo Adelabu; Exihibition Director Nigeria Energy, Ade Yesufu and Akinwole Omoboriowo, Chairman & CEO of Genesis Energy Genesis, a leading energy solutions provider in West Africa, has announcedits sponsorship of the Nigeria Energy Leadership Summit, which runs from October 15 to 17,2024, in ...

……….by Ben Ndubuwa…… The Nigeria Energy Leadership Summit 2024 kicked off with a strong emphasis on breaking barriers in the global energy era, bringing together leaders from the Nigerian and international energy sectors. The event, focused on the theme of clean energy transition, highlighted the growing importance of renewable energy, energy efficiency, and digitalization in transforming the African energy landscape. ...

Nigeria has witnessed the sixth grid collapse this year, which has thrown Nigerians into darkness again as the nation continues to grabble with constant electric power failure. Reports nationwide indicated the grid collapsed at about 6:18 p.m. on Monday. Power generation dropped from 3.87 gigawatts at 5 pm to 3.56GW at 6 pm and 0.00GW at 7 pm and 8 ...