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Organisation of Petroleum Exporting Countries

Nigerian National Petroleum Corporation (NNPC)

NNPC to sue Mexican oil firm over ‘stolen 48 million barrels of crude’

The Nigerian National Petroleum Corporation (NNPC) says it is taking legal action against a Mexican international oil firm which it accused of being a crime syndicate, SAMANO SA DE CV, and its officials over attempts to swindle the Nigerian government of over $125 million.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC: Nigeria cuts oil production to 1.4 million barrels per day

For the first time in many years, the Organisation of Petroleum Exporting Countries, OPEC, has confirmed Nigeria’s ability to cut its output from 1.7 million barrels per day, mb/d in May to 1.4mb/d in June 2020.
The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude.

Nigeria’s active oil rigs fall by 24 percent

The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude.

Fitch: 417,000bpd oil cut’ll deepen Nigeria’s recession

A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led by the Organisation of Petroleum Exporting Countries will lead to deeper economic contraction and fiscal deficits.

Nigeria, Angola cut oil export

African oil producers Nigeria and Angola have revised downwards their crude oil export programmes for May and June to align themselves with a global production cut deal led by OPEC, loading programmes showed.

Bonny Light price remains low despite oil cut

Despite the oil cut initiative of the Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC members, the price of Bonny Light, Nigeria’s premium oil grade only rose marginally from $23.19 to $23.25 per barrel, yesterday.
The world’s two largest oil exporters came to a resolution at an expanded Organisation of Petroleum Exporting Countries (OPEC) emergency meeting which was held through a video conference.

OPEC+ meeting adopts new measures to stabilise oil market

The Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC Meeting has taken far-reaching decisions, targeted at achieving stability in the global market.
OPEC producers dominated by Saudi Arabia and allies led by Russia met via videoconference for an hour Sunday in a last effort to cement a deal struck early Friday.

Oil producers agree record 9.7m barrels output cut

Top oil-producers agreed Sunday on “historic” output cuts in a bid to boost plummeting oil prices due to the new coronavirus crisis and a Russia-Saudi price war.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC+ members finally agree to cut 9.7 million barrels daily oil output

The Organisation of Petroleum Exporting Countries (OPEC) and its non-OPEC allies, led by Russia, on Sunday finally agreed to cut members’ crude oil production by 9.7 million barrels per day.
The world’s two largest oil exporters came to a resolution at an expanded Organisation of Petroleum Exporting Countries (OPEC) emergency meeting which was held through a video conference.

OPEC+ holds another meeting on crude oil cut

The Organisation of Petroleum Exporting Countries (OPEC) and its non-OPEC allies, led by Russia, are holding another crucial meeting on Sunday to take a final decision on oil output cut.
The world’s two largest oil exporters came to a resolution at an expanded Organisation of Petroleum Exporting Countries (OPEC) emergency meeting which was held through a video conference.

Saudi Arabia, Russia end oil price war, agree to cut production

Saudi Arabia and Russia Thursday ended their oil war that has shaken the global oil markets and negatively affected many oil-reliant economies, including Nigeria.

Low crude oil prices may force Nigeria to abandon production

Nigeria may soon slip out of reckoning as a profitable oil producer in the Organisation of Petroleum Exporting Countries (OPEC) if crude oil prices decline further by at least another $3.
Nigeria Naira

Naira bounces back after days of depreciation

The naira appreciated against the dollar on Friday after days of panic buying amid speculations that the Nigerian central bank may devalue the local currency.
An OPEC branded flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria. | Akos Stiller | Bloomberg via Getty Images

Coronavirus: OPEC reduces number of delegates, stops journalists from covering meeting

The Organisation of Petroleum Exporting Countries, OPEC, has adopted measures, targeted at preventing the spread of Coronavirus, as the 178th Extraordinary Meeting of OPEC Conference and the 8th OPEC and non-OPEC Ministerial Meeting open in Vienna, Austria.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC defies coronavirus scare to hold crucial meeting

Oil ministers from the Organisation of Petroleum Exporting Countries (OPEC) on Wednesday defied the global scare of the deadly coronavirus to hold its crucial meeting in Vienna, Austria.

Oil prices dip on ease of Iran tension

Oil prices tumbled on Wednesday as United States President Donald Trump signalled tensions with Iran are easing, reducing fears of a deeper conflict between the two nations.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil climbs, lifted by US-China trade deal hopes, OPEC cuts

Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as many markets were in holiday mode.

Nigeria’s Bonny Light rises to $64.30 per barrel

THE price of Bonny Light, Nigeria’s premium oil grade, has risen from $63.00 to $64.30 per barrel at the international market, the highest in the past three weeks.

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China running hundreds of detention centres in Xinjiang – researchers

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Brendan Rodgers happy with Kelechi Iheanacho, others despite losing to Arsenal

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Bayern star ready to accept pay cut for La Liga return

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Tiger Woods to defend Zozo Championship title next month

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Man in court over alleged N770,000 fraud

A 26-year-old man, Ahmed Ibrahim, on Thursday appeared before an Ikeja Magistrates’ Court, for alleged N770,000 fraud.