Crude

Nigeria’s crude oil production rose in February, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. Oil production from the 12 members of the organisation, OPEC, averaged 26.57 million barrels per day (mb/d) in February 2024, higher by 203 thousand barrels per day (tb/d) month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday. “According to secondary sources, total OPEC-12 crude oil production averaged 26.57 mb/d in February 2024, 203 tb/d higher, month-on-month.…

The Nigerian National Petroleum Company Limited (NNPC Ltd) has appealed to the Economic and Financial Crimes Commission (EFCC) to help tackle the menace of crude oil theft in the country. Olufemi Soneye, the chief corporate communications officer of NNPC Ltd, disclosed this in a statement on Monday. Mr Soneye said the Group Chief Executive Officer of the company, Mele Kyari, made the appeal at an interactive session with the Executive Chairman of EFCC, Ola Olukoyede, held at the NNPC Towers in Abuja on Monday.…

Nigeria’s crude oil production dropped in January, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. Oil production from the 12 members of the organisation averaged 26.34 mb/d in January 2024, lower by 350,000 barrels per day (tb/d), month-on-month, OPEC said in its Monthly Oil Market Report released Tuesday. The report also noted that crude oil output increased mainly in the UAE, Saudi Arabia and Venezuela, while production in Libya, Kuwait, Iraq and Algeria decreased. Nigeria’s crude…

The 650,000 barrels per day Dangote Refinery is set to import crude from the United States (US) in the coming months, a report has said. Trafigura Group sold 2 million barrels of WTI Midland to the Dangote refinery for end-February delivery, Bloomberg reported Monday, quoting traders with knowledge of the matter. This is the first time that the giant refinery has purchased non-Nigerian crude, traders said. Dangote Petroleum Refinery had earlier in the month commenced production of diesel and aviation fuel.…

Taken director Pierre Morel gets it really, really wrong with this dumb, crude and not remotely entertaining action-comedy. The idea isn’t too bad: it’s about a former US special forces soldier who gets caught up in a South American coup after being hired as bodyguard to a journalist. You can picture Armando Iannucci running with the satirical possibilities, or a more serious-minded film-maker wading knee-deep into moral murk, John le Carré style. Instead, Morel, working with a script by Jacob Lentz, squanders the basic…

Dangote Refinery has made a further move towards the commencement of the production of refined petroleum products with the receipt of an additional one million barrels of crude bonny light supplied by the Nigeria National Petroleum Corporation (NNPC). The fresh one million barrels of crude from the Shell terminal via the MT Otis owned by Trafigural is the second consignment to be delivered to the Dangote facility out of the six million barrels of crude being expected by the world’s largest single-train refinery.…

Nigeria’s crude oil production dropped in November, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. Oil production from the 13 members of the organisation averaged 27.84 million barrels per day (mb/d) in November 2023, lower by 57 thousand barrels per day (tb/d), month-on-month, OPEC said in its Monthly Oil Market Report released Wednesday. The report also noted that crude oil output increased mainly in Venezuela, Libya and Kuwait, while production in Iraq, Angola and Nigeria…

In a major step towards boosting Nigeria’s domestic refining capacity and attaining energy security (self-sufficiency), Dangote Petroleum Refinery and Petrochemicals plant has purchased 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), one of the largest trading companies in Nigeria as well as globally, trading over 8 million barrels of crude oil per day. The STASCO cargo contained 1 million barrels from Agbami and sailed to Dangote Refinery’s Single…

Crude oil theft and pipeline vandalism have become a national emergency challenge, the Nigerian Extractive Industries Transparency Initiative (NEITI) has said. The Deputy Director/Head of Communications and Stakeholders’ Management at NEITI, Obiageli Onuorah, disclosed this in a statement on Tuesday. According to the statement, the Executive Secretary of NEITI, Ogbonnaya Orji, stated this in a keynote address presented at the Nigeria International Pipeline & Security Conference in Abuja on Monday. “With a…

Paracetamol and ibuprofen are among the world’s most common over-the-counter painkillers, but manufacturing them requires crude oil. Now, researchers at the University of Bath have developed a more sustainable method, creating the drugs out of waste products from the paper industry.When we feel a headache coming on, many of us will just pop a pill without really thinking about where it came from. But many common pharmaceuticals, such as paracetamol/acetaminophen (the active ingredient in Tylenol and Panadol) and ibuprofen…