OPEC+ is grappling with a complex dilemma as it convenes this week to discuss the future of its production cuts. The alliance, which includes both OPEC and non-OPEC oil producers,…
oil production
Oil production involves extracting crude oil from underground reservoirs through drilling. After extraction, the oil is refined into various products like gasoline and diesel. It’s a critical process for global energy supply and economy.
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Elder statesman and businessman Morrison Olori has praised President Bola Tinubu’s efforts to increase Nigeria’s daily crude oil production, highlighting the positive outcomes of his leadership. Speaking in Abuja, Olori,…
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Long before the discovery of its vast offshore oil reserves in 2015, Guyana had established itself as a global advocate for decarbonization through its Low Carbon Development Strategy (LCDS) 2030.…
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In a significant development, Exxon Mobil Corp. announced that it had surpassed 500 million barrels of oil production from Guyana’s offshore Stabroek block, just five years after the commencement of…
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OPEC+ has limited flexibility to reverse its ongoing oil production cuts, which have inadvertently spurred increased supply from the U.S. shale industry, according to Afshin Javan, Iran’s representative to the…
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The Nigerian National Petroleum Company Limited (NNPC Ltd.) has issued a statement to clarify that there is no discrepancy between its reported crude oil production figures and those provided by…
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The Organization of the Petroleum Exporting Countries (OPEC) and the Russian Federation convened today for the Ninth High-level Meeting of the OPEC-Russia Energy Dialogue. Co-chaired by Alexander Novak, Deputy Prime…
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The Nigerian National Petroleum Company Limited (NNPC Ltd.) has officially introduced its latest crude oil grade, the Utapate crude oil blend, to the international market. This announcement, made at the…
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Former Niger Delta militant leader and Chief Executive Officer of Tantita Security Services Limited, Government Ekpemupolo, popularly known as Tompolo, has accused the Nigerian Navy of complicity in oil theft…
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U.S. oil giant Exxon Mobil Corp. (NYSE) announced Wednesday that it has produced 500 million barrels of oil from Guyana’s offshore Stabroek block, reaching this milestone just five years after…