Tag: Oil Production

Global oil shock: OPEC abandons production freeze plan as supply crisis deepens

Business Damilola Bayonle -
OPEC Production Freeze Plan Unrealistic as Supply Disruptions Deepen Global Oil Crisis The OPEC production freeze plan for the first...

Oil shock deepens as TotalEnergies cuts 15% of production amid Middle East crisis

Business Damilola Bayonle -
Escalating geopolitical tensions in the Middle East are beginning to exert significant pressure on global energy markets, with major...

IMF forecasts Nigeria economic comeback as GDP set to hit $334bn by 2026

Business Damilola Bayonle -
IMF Projects Nigeria to Overtake Algeria as Africa’s Third-Largest Economy by 2026 Nigeria could reclaim a stronger position among Africa’s...

Nigeria’s oil output surges as crude production peaks at 554.4 million barrels in 2025

Business Damilola Bayonle -
Nigeria’s Crude Production Peaked at 554.4mb in 2025 — NUPRC Nigeria’s oil and gas sector recorded a notable performance in...

NNPC shake-up: Presidency’s bold move to revitalise Nigeria’s oil sector

Business Damilola Bayonle -
The Presidency has signalled a major restructuring in the Nigerian National Petroleum Company Limited (NNPC) amid concerns over stagnant...

Nigeria set for oil output boost as NUPRC expects an increase in oil production from EMEM FPSO

Business Damilola Bayonle -
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has projected a boost in crude oil output as the EMEM Floating...

IMF report shows MENA economic growth strengthens despite global uncertainty

Business Damilola Bayonle -
Despite ongoing global volatility, regional conflicts, and fluctuating oil prices, the International Monetary Fund (IMF) has reported stronger-than-expected MENA...

NUPRC Rig Count Soars 762% as Regulator Marks Four-Year Reform Success

Business Damilola Bayonle -
Nigeria’s upstream oil and gas regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has announced significant progress in the...

NNPCL Targets 1.8m Barrels Daily Crude Oil Output Before End of 2025

Business Damilola Bayonle -
The Nigerian National Petroleum Company Limited (NNPCL) says it is on course to raise Nigeria’s crude oil output to...

OPEC+ approves 137,000 bpd oil production hike

Business Damilola Bayonle -
The Organisation of the Petroleum Exporting Countries and its allies, known as OPEC+, has approved a modest OPEC oil...

Nigeria Records 3.7% Economic Growth in First Half of 2025 – Report

Business Damilola Bayonle -
Nigeria’s economy has recorded a 3.7 percent year-on-year growth in the first half of 2025, buoyed by increased crude...

OPEC+ to Boost Oil Production Amid Price Slump

World News Emmanuel -
Despite oil prices hovering around $60, OPEC+ is expected to further increase production, driven by pressure from US President...