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Nigeria earned about N85 trillion, or $236.2 billion from oil between 2014 and 2018, the 54th edition of Annual Statistical Bulletin by the Organisation of Petroleum Exporting Countries (OPEC), has revealed.
Nigeria, Africa’s top oil producer, earned a total of $236.15bn from petroleum exports over the last five years, a new report by the Organisation of Petroleum Exporting Countries has shown.
Oil price hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that had helped boost prices this year.
The Organisation of the Petroleum Exporting Countries and its allies are set to debate at least two scenarios that would increase oil production beyond current levels, according to sources.
Oil edged higher toward 73 dollars a barrel on Friday, supported by real and threatened supply disruptions in the Middle East and heading for a weekly gain.
Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles.
Oil prices fell on Monday, extending a slump from Friday that ended weeks of rallying after President Donald Trump demanded that producer club, OPEC, raise output to soften the impact of U.S. sanctions against Iran.
Algeria needs to focus on avoiding economic instability during its political transition after the resignation of President Abdelaziz Bouteflika, a senior official at the International Monetary Fund (IMF) said.
The King of Saudi Arabia, Salman bin Abdulaziz Al Saud, and the Crown Prince, H.R.H. Mohammed bin Salman bin Abdulaziz Al Saud have endorsed a memorandum of understanding (MoU) being prepared by Nigeria and the Kingdom of Saudi Arabia to enable both countries engage in multiple aspects of oil and gas business.
Oil prices dipped on Friday on expectations that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a hardening of sanctions on Tehran by the United States.
Iranian oil minister Bijan Zanganeh said Saudi Arabia and the United Arab Emirates overstate their oil capacities, Iran’s state news agency IRNA reported on Friday.
Iraq’s oil minister said on Thursday his country had the capacity to increase its oil production to 6 million barrels per day (bpd) if needed, but it was committed to OPEC-led output cuts and would not take unilateral action to boost supply.
Oil prices slipped below six-month highs on Wednesday after signs that cushioned a rally based on fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran.
India will get additional supplies from other major oil producing countries to compensate for the loss of Iranian oil, India’s Petroleum and Natural Gas Minister, Dharmendra Pradhan, said on Tuesday.
Oil prices hit 2019 highs on Tuesday after Washington announced that all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran.
A group, Civil Society-Scaling Nutrition in Nigeria (CS-SUNN), has disclosed that 53 per cent of childhood deaths in Nigeria are underlined by malnutrition related illnesses.
Authorities repatriated the relatives of two people who died of Ebola in Uganda back to the Democratic Republic of Congo on Thursday, the Ugandan health minister said on Friday.
Huawei’s first 5G phone, the $2,600 foldable tablet-phone hybrid Mate X, will miss its originally expected June release date in favor of a revised September release.
Another Nigerian Citizen, Maxwell Ikechuku Okoye, from Oji River Local Government Area of Enugu State, has been allegedly killed by members of the South African Police Service in Ladysmith, Kwa-zulu-Natal Province.
An uncompleted two storey building, still under construction, in the Marine Quarters axis of Warri, collapsed to the ground on Friday, leaving a huge heap of rubbles.
Admiral Usman Jibrin (rtd), who is seeking the All Progressives Congress (APC), ticket to contest the Nov 16 governorship election in Kogi, has promised to attract investors to the state, if elected its governor.
The ever busy Wukari Yam Market in Taraba state was deserted by both buyers and suppliers as a result of the ongoing crisis between Jukun and Tiv ethnic groups.
Borno South Senator, Ali Ndume, said the All Progressives Congress (APC) should commend him for insisting on running in the election of the Senate President of the ninth Senate.
Algeria midfielder Haris Belkebla has apologised for his ‘inappropriate behaviour’ after he showed his backside in a live stream.
Founder and Spiritual Leader of Omega Fire Ministries, Apostle Johnson Suleman, has revealed how he rejected a cash gift from a young man who later got arrested for fraud by security operatives.