In April, the period under review for the latest OPEC report, the OPEC Reference Basket (ORB) value increased by $4.90, or 5.8%, month on month, to an average of $89.12/b. Oil futures prices averaged higher, with the ICE Brent front-month contract …

Nigeria’s average daily crude oil production rose to 1.28 million barrels per day (bpd) in April, the Organisation of Petroleum Exporting Countries (OPEC) has disclosed. This is even as the country reclaimed the top position as Africa’s biggest producer. …

This increase showed that crude oil production in Nigeria increased month-on-month, (MoM), by 4% from 1.23 million BPD recorded in March 2024, to 1.28 million BPD, in April 2024, OPEC measures crude oil production output by using data from two sources: …

The Organisation of Petroleum Exporting Countries has said Nigeria’s average daily crude oil production increased to 1.28 million barrels per day in April. This was contained in its latest monthly oil market report, released on Tuesday. OPEC gathers data …

High-level OPEC officials unpacked the Organization’s short- to long-term crude oil market perspectives in a special session at the Invest in African Energy forum in Paris on Tuesday. Based on OPEC’s latest Monthly Oil Market Report – released on May 14 – …

Editor’s Note: This is part of a short series examining maritime geography and strategic challenges in specific bodies of water, ranging from the Arctic Ocean to the Gulf of Guinea and the South China Sea. On Jan. 1, 2024, Nigerian pirates attacked the …

Djibouti’s diplomatic visibility has strengthened since June 2023, when the country’s President, Ismaïl Omar Guelleh, assumed the rotating presidency of the Intergovernmental Authority on Development (IGAD), which has sought to mediate on the war in Sudan, …

The Nigerian Navy’s “Operation Delta Sanity,” launched for increased maritime surveillance, led to the arrest of over 14 rogue oil vessels in Rivers State alone in the first quarter of this year. This is in addition to 90 badges, 74 suspects, companies and …

Central bank governors in eastern Africa are worried about how a strong dollar continues to cast a long shadow over their local currencies. The governors were forthright about the headwinds that are buffeting their respective economies. Dr Adam Mugume, the …

As the world begins to shift away from carbon-based energy and toward renewable energy, new investment opportunities are emerging alongside advancements in electric vehicle (EV) battery technology. In the short term, EV sales are experiencing slow growth …