Monday, July 15, 2024

Organisation of the Petroleum Exporting Countries (OPEC)

July 2, 2024

OPEC projects energy demand to rise by 23% in 2045

OPEC says the rise will be fuelled by a world economy expected to double, growing from $138 trillion in 2023 to $270 trillion in 2045.

May 30, 2024

Nigeria’s growth rate projected to increase to 4.4% in 2025: AfDB

Nigeria’s and other West African countries’ growth rates are projected to rise from an estimated 3.6 per cent in 2023 to 4.2 and 4.4 per cent in 2024/2025.

Local market in Ghana
February 29, 2024

OPEC says efforts ongoing to reduce carbon emissions

The OPEC secretary-general lauded the effective participation of the oil gas stakeholders at COP28 and the successful hosting by the UAE, an OPEC member.

February 26, 2024

6,000 delegates gather in Abuja for 7th Nigeria International Energy Summit

President Bola Tinubu will officially open the summit at the State House Banquet Hall, Aso Villa, on Tuesday.

August 12, 2023

OPEC says Nigeria’s economy grew by 2.4% in Q1

According to the report, after Nigeria’s economy grew by 3.3 per cent in 2022, it is forecast to decelerate in 2023.

August 12, 2023

Dollar index decreased by 1.6% in July: OPEC

OPEC said the dollar index rose for the second consecutive month in June, increasing marginally by 0.3 per cent m-o-m.

August 4, 2023

Saudi Arabia extends oil production cut to September

The voluntary cut planned for July will now also cover September, the Ministry of Energy said, adding that further extensions were possible.

Fuel pump
April 21, 2023

Nigeria recorded 37 billion barrels of oil, condensate reserves in January: NUPRC

NUPRC says the country’s oil and condensate reserves, as of January 1, stand at 36.966 billion barrels.

Oil pipelines
September 29, 2022

Global oil prices hit $90 per barrel as OPEC mulls output cut

Brent crude futures rose 52 cents, or 0.6 per cent, to $89.84 a barrel by 1027 GMT.

September 13, 2022

Angola, Libya overtake Nigeria in crude oil production: Report

The OPEC report said Nigeria’s crude oil production for the month of August averaged 1.100 million barrels per day.

Oil workers used to illustrate the story