crude oil

KEY POINTS As it strives to meet ambitious output targets and draw in foreign investment, Nigeria’s oil production has surged to its highest level in six months, a development that …

KEY POINTS Nigeria’s production of oil increased in July, giving the continent’s biggest producer new impetus to recover barrels that were lost to sabotage, theft, and years of underinvestment. According …

KEY POINTS Far from the busy markets of London or New York, the flickering numbers on trading screens—Brent crude at $67.02 a barrel—tell a different story. That figure is more …

KEY POINTS Petroleum remains king in Nigeria’s export economy, commanding a lion’s share of its foreign trade earnings and reinforcing the West African nation’s position among the world’s major oil …

OPEC+ denies speculation about postponing its April oil supply hike, with Russia confirming production increases remain on schedule.

The Organization of the Petroleum Exporting Countries (OPEC) is shifting its focus in oil market reporting. Instead of estimating demand for its own crude oil production, OPEC will now prioritize …

The Dangote Refinery, a $20 billion project and soon to be Africa’s largest refinery, is set to begin operations after years of construction delays. The Nigerian National Petroleum Corporation (NNPC) …

Nigeria is on the verge of becoming a major player in the global oil market as the Dangote refinery, the largest single-train refinery in the world prepares to start operations …

The Dangote Refinery, Africa’s largest oil refinery with a capacity of 650,000 barrels per day, is set to receive crude oil from the Nigerian National Petroleum Company Limited (NNPCL) in …

Oil prices experienced a boost in tandem with the broader financial markets following a signal from the Federal Reserve suggesting that an imminent interest rate hike might not be in …