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Kuwait National Oil Company Boss Emerged Next OPEC Scribe

The Deputy Managing Director for International Marketing at Kuwait Petroleum Corporation (KPC), Haitham Al-Ghais, has emerged as the next Secretary-General of the Organisation of Petroleum Exporting Countries, (OPEC.) Financial Energy Review yesterday reported that a new OPEC scribe will be elected to take over from Nigeria’s Mohammed Sanusi Barkindo who term of office will end in July after serving two ...

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OPEC Sets to Elect new Secretary-General Today

Hints from OPEC emerged over the weekend that there are moves by OPEC member countries deciding today who replaces Nigeria’s Mohammed Sanusi Barkindo as Secretary General of the Organization. The ministers of the OPEC countries will hold a special meeting on today, January 3, where they will discuss the candidacy of the new Secretary-General of the organization, who should replace ...

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Nigeria to Maintain Top Spot in Oil Production in Africa Q1 2022

…….by Jenefer Dike….. Nigeria may continue her top spot position in crude oil production in Africa through the first quarter of the year 2022. This is because Nigeria plan is to go beyond oil production target of 1.88 million b/d, including condensate production of between 300,000-400,000 barrel per day . This month she regained the top spot among crude oil ...

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OPEC+ Misses Oil Supply Target as Over-compliance Hits 117 Percent in November

Compliance with oil production cuts by the Organisation of Petroleum Exporting Countries (OPEC) and its allies known as OPEC+ stood at 117 per cent in November, up from 116 per cent the previous month. This indicated that the group’s production levels continued to stay below agreed targets in the month under review, with compliance from the 10 OPEC countries participating ...

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Nigeria Regains Top Crude Oil Production Spot in Africa ― OPEC Report

Nigeria has regained the top spot among crude oil-producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of the Petroleum Exporting Countries (OPEC) made this known in its Oil Market Report for December which was obtained by the News Agency of Nigeria (NAN) on Monday in Lagos. The report ...

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OPEC Extends Compensation for Nigeria, Others to June 2022

The Organisation of the Petroleum Exporting Countries (OPEC) has extended the compensation period for defaulting countries in the ongoing oil cuts until June 2022. This was contained in a statement by the group’s Secretariat, which noted that the extension was granted following requests by some of the underperforming countries. Nigeria is one of the defaulters and the Vienna-based cartel had ...

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Electricity Workers Call Off Strike After Signing MOU With Government Officers

The strike embarked upon by the National Union of Electricity Employees (NUEE) of the Abuja Electricity Distribution Company has been called off. The union embarked on strike over what they described as an outstanding payment of about N41 billion escrowed in the Central Bank of Nigeria (CBN). This followed a memorandum of Understanding MOU that was signed between the union ...

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OPEC New Secretary General : It’s Sub-Saharan African Member States Against Gulf States

………by Ben Ndubuwa………… As the Organization of Petroleum Exporting Countries (OPEC) shops for a new Secretary General there are strong indications that the Sub-Saharan member States may Stand for the continuation of the current Secretary General Nigeria’s Mohammad Sanusi Barkindo against the moves by big weight Saudi Arabia mobilizing the gulf states. This intention to keep Barkindo by the African ...

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