Browsing Tag
Crude Oil
13 posts
Local Refinery Crude Supply Surged by 88.4% in Q2, Reports NUPRC
The NUPRC reported an 88.4% jump in crude oil supply to domestic refineries during Q2 2026, driven by stronger production and improved commercial agreements under the Petroleum Industry Act.
National Economic Council authorizes $4.5 billion loan deal for NNPC
The National Economic Council has approved a $4.5 billion refinancing deal for NNPC to boost foreign reserves and support infrastructure after reducing crude oil output requirements.
Atiku Demands Transparency Over President Tinubu’s Oil Revenue Pledges
Former Vice President Atiku Abubakar has challenged the Tinubu administration to publicly reveal the terms of its oil-backed loan agreements, arguing that these undisclosed deals jeopardize Nigeria's economic future.
Nigeria Unaffected as Select OPEC+ Nations Boost Production
Nigeria remains exempt from the latest OPEC+ production increase, allowing the nation to continue its independent strategy for raising oil output within its established quota.
Nigeria’s Oil Export Revenue Drops to $31.54 Billion in 2025
A new CBN report shows that Nigeria's crude oil export earnings dropped by over 14 percent in 2025 due to global market supply issues, with Europe remaining the largest buyer.
Dangote Refinery boosts fuel exports amid supply and currency hurdles
Dangote Refinery is prioritizing international fuel exports to offset severe local crude shortages and an inability to convert naira earnings into the foreign currency needed for operations.
Can Nigeria Transition from Crude Oil to Agriculture-Led Exports?
Experts urge Nigeria to pivot from crude oil dependence toward a value-added agricultural economy, emphasizing the need for infrastructure, technology, and policy reforms to unlock the nation's export potential.
Nigeria Achieves 104% of OPEC Oil Target as Output Reaches 74-Month Peak
Nigeria has reached 104 percent of its OPEC production quota, with crude output hitting a 74-month high of 1.56 million barrels per day in June 2026.
Nigeria Surpasses OPEC Oil Output Target with Six-Year Production Peak
Nigeria has outperformed its OPEC oil production quota for the first time in 74 months, hitting an average of 1.56 million barrels per day in June 2026.
Nigeria records 2.3 percent growth in daily oil output reaching 1.74mbpd
Nigeria has reached a production milestone by exceeding its OPEC quota for two months running, with daily crude and condensate output climbing to 1.74 million barrels in June.