OPEC-Nigeria Talks Discuss Market Recovery After Covid-19

The OPEC-Nigeria Bilateral Meeting that took place last week has sent yet another signal of the strong dialogue and cooperation between OPEC and Africa’s biggest producing country. Such a dialogue is key for compliance with the OPEC global production cuts deal of April, to which all of OPEC’s African member countries have agreed to. Nigeria’s […]

African Energy Chamber Calls For Oil Production Cuts

The African Energy Chamber has urged the Organization of the Petroleum Exporting Countries (OPEC) members and other global oil producers to continue with the historic production cuts at the December 6, 2018 OPEC meeting. This is to stabilize the oil price in the global market, according to a statement on Friday. Oil prices have dropped […]

Organisation of Petroleum Exporting Countries

OPEC, Trade Concerns Push Crude Oil Price To One-Month Low

Crude oil prices fell yesterday with the global benchmark, Brent crude heading towards its lowest finish in about one month after a report revealed a surprise weekly climb in the United States’ domestic crude inventories. Prices had traded higher in early dealings, buoyed by reports Venezuela may not deliver some of its contracted crude oil […]


OPEC pumps more oil in July despite cut pledge – IEA

OPEC pumped more oil in July as global oil supplies rose for the third straight month, the IEA said Friday, giving figures that cast further doubt on the cartel’s pledge to cut output to raise prices. In its monthly report on the global oil market, the International Energy Agency said, however, that it believes the […]

Living on the pipelines: How oil vandals make Nigerian economy bleed

Nigeria lost over N51.28bn worth of oil to activities of petroleum pipeline vandals in 2015, the Nigerian National Petroleum Corporation (NNPC) has said. Oil, the mainstay of Africa’s largest economy has been the bone of contention between the government and the Niger Delta militants. The contention is responsible for the loss of national revenue, which […]