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Crude Oil Production Drops By 24.73%
According to data released by the Nigerian Upstream Petroleum Regulatory Commission, Nigeria’s crude oil production crashed by 24.73 percent in September 2022 to 937,766 barrels per day. This is a drop compared to 1.246 million barrels per day recorded over the corresponding month in 2021, the latest data from the Federal Government has shown. NUPRC…
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Nigeria National Petroleum Commission Bulletin(Statistics)
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Congo To Assume OPEC Presidency In 2022
Congo is the third-largest oil producer in sub-Saharan Africa after Nigeria and Angola, with an estimated production of 336,000 barrels of crude oil per day. With 2.9 billion barrels of oil reserves and 10 trillion cubic feet of natural gas, Congo is more than ready to take over from its sitting neighbour Angola, come 2022.…
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Covid-19 Infection Surge Threatens Global Oil Demand Growth
A report by the International Energy Agency has shown that global oil demand growth fell dramatically on Wednesday following worsening coronavirus cases. The International Energy Agency (IEA) said that slowing demand for crude in the wake of restrictions imposed to curb the fast-spreading Delta variant is colliding with a recent increase in global crude production.…