OIL MARKET: Russia, Saudi Arabia, Iraq emerge as top 3 producers under OPEC+ new arrangement By Eyo Nsima The Organization of Petroleum Exporting Countries, OPEC, and its allies, popularly known as OPEC+, would depend on three – Russia, Saudi Arabia, and Iraq – to meet a greater percentage of global demand. The three nations would […]
By Eyo Nsima The Organisation of Petroleum Exporting Countries and its allies, popularly known as OPEC+, has slashed Nigeria’s oil output to 1.742 million barrels per day, mb/d. The ‘November 2022-December 2023’ released by OPEC, yesterday, showed that amongst African producers, Nigeria’s 1.742 mb/d was the highest, while Sudan’s 72,000 bp/d was the lowest. In
OPEC+ slashes Nigeria’s output to 1.742 mb/d Read More »
By Eyo Nsima The 45th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 33rd OPEC and non-OPEC Ministerial Meeting will take place in person at the OPEC Secretariat in Vienna, Austria, on Wednesday, 5 October 2022, according to the Organisation of Petroleum Exporting Countries, OPEC. It stated: “The OPEC Secretariat looks forward to
The Organization of the Petroleum Exporting Countries (OPEC) today marks the sixth anniversary of the adoption of the landmark ‘Algiers Accord’ on 28 September 2016 in Algiers, Algeria. Six years ago, the OPEC Conference held its 170th (Extraordinary) Meeting in the Algerian capital to discuss oil market developments and deliberate ways to address the severe
Historic ‘Algiers Accord’ reaches six years Read More »
The Organization of the Petroleum Exporting Countries (OPEC) will host the 8th OPEC International Seminar at the Imperial Hofburg Palace in Vienna, Austria, on 5-6 July 2023 under the theme, ‘Towards a Sustainable and Inclusive Energy Transition’. The OPEC International Seminar is one of the premier events in the energy industry calendar. It strengthens
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By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, and its allies, known as OPEC+, has slashed Nigeria’s oil quota to 1.826 million barrels per day, mb/d in October, from 1.83mb/d in September 2022. The action, which aims at enabling OPEC+ to realise stability in the market was taken at the just-concluded meeting of
How OPEC+ slashes Nigeria’s production quota to 1.826mb/d Read More »
By Our Correspondent The Organisation of Petroleum Exporting Countries, OPEC, has revised down the World Economic Growth to stand at 3.1 per cent for 2022 and 2023, implying relatively low demand for oil. According to OPEC, “This is a result of weaker 2Q22 growth in the major economies and an observed soft trend in some
OPEC revises down World Economic Growth to stand at 3.1% for 2022 and 2023 Read More »
By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC members have paid a special tribute to the late OPEC Secretary General, HE Mohammad Sanusi Barkindo of Nigeria. In a statement obtained by The Daily, www.thedaily-ng.com, they stated: “At the 31st OPEC and non-OPEC Ministerial Meeting, held via videoconference on 3 August 2022, a
JUST IN: OPEC+ raises Nigeria’s quota to 1.830 million bpd … Oil prices rise to over $100 per barrel By Eyo Nsima The Organization of Petroleum Exporting Countries, OPEC, and its allies have increased Nigeria’s oil quota to 1.830 million barrels per day, mb/d in September 2022, from 1.826 mb/d in August 2022. ..Details coming
JUST IN: OPEC+ raises Nigeria’s quota to 1.830 million bpd Read More »
By Eyo Nsima His Excellency Haitham Al Ghais of Kuwait has taken office as Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) at the Organization’s Secretariat in Vienna, Austria. HE Al Ghais was appointed by acclamation for a three-year term at the Special Meeting of the OPEC Conference held on 3 January
Haitham Al Ghais takes office as OPEC Secretary General Read More »
