Nigeria’s crude oil production rose in February, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. Oil production from the 12 members of the organisation, OPEC, averaged 26.57 million barrels per day (mb/d) in February 2024, higher by 203 thousand barrels per day (tb/d) month-on-month, OPEC said in its Monthly Oil Market Report … Read more
Nigerian National Petroleum Company Limited recorded a profit after tax of N2.5 trillion for the 16 months to December 2022, its latest audited financials show. The new report breaks away from the previous tradition that set the annual financial year end of the oil firm at around August, with subsequent financials likely to follow a … Read more
African Export-Import Bank (Afreximbank) said it has successfully arranged a syndicated $3.3 billion crude oil prepayment facility sponsored by the Nigerian National Petroleum Company Limited (NNPC Ltd). The bank in a statement posted on its website said an initial disbursement of $2.25 billion has been made. NNPC Ltd and Afreximbank had in August last year … Read more
The Nigerian National Petroleum Company Limited (NNPC Ltd) has said there is no imminent increase in the cost of petrol. A statement by Olufemi Soneye, the chief corporate communications officer of the company, also cautioned motorists against panic-buying. The response came amidst a report that the company on Tuesday clashed with petroleum marketers under the … Read more
