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Crude oil

Latest report by Meristem Research has projected an increase in Nigeria’s oil production in 2024 barring any significant, unexpected shock to the sector in the year. The 2024 Annual Outlook entitled: ‘Setting Sail for Gradual Recovery’, lamented the persistent challenges, including pipeline vandalism, illegal oil bunkering that led to the Rumuekpe-Nkopu explosion, oil theft, and […]

Nigeria’s crude oil production fell last month after two consecutive months of increase, putting a damper on the government’s drive to ramp up its foreign exchange earnings and stabilise the naira. Crude oil production declined to 1.56 million barrels per day in October, indicating a 0.65 per cent drop from the preceding month, a new […]