• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria’s Crude Oil Production Rises By 70,000bpd

by Nse Anthony - Uko
3 years ago
in Business
nigeria
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria’s crude oil production increased by 70,000 barrels per day in May according to a Reuters Survey released yesterday.

Advertisement

The document showed that the country’s crude oil production averaged 1.42mbpd in May.

The figure is 70,000bpd higher than the average crude oil production in April, which stood at 1.35mbpd.

The survey said the increase in the Organisation of the Petroleum Exporting Countries (OPEC) oil output in May exceeded the rise planned under a deal with allies for the first time since February.

It said this was due to a higher Saudi and Iraqi supply combined with a partial recovery in outage-hit Nigeria.

RELATED

Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases

Global Oil & Gas Contracts Up By $7bn In Q2

3 hours ago
Fadaella Foods To Capture Nigerian Market With New Products

Fadaella Foods To Capture Nigerian Market With New Products

3 hours ago
ADVERTISEMENT

The survey said: “The 10 members of OPEC bound by the deal pumped 24.73mbpd in May, up 280,000bpd from April and above the 274,000bpd increase called for by the accord.

“The biggest rise in May of 100,000bpd came from Saudi Arabia.

“The second-largest of 70,000bpd came from Nigeria, which loading schedules indicate boosted exports in May, even though key crude stream Bonny Light remains under force majeure.”

ADVERTISEMENT

It noted that Kuwait and Iraq provided smaller increases of 40,000bpd and 30,000bpd respectively, while the United Arab Emirates added 20,000bpd.

According to the survey, production did not increase in Congo, Equatorial Guinea and Gabon owing to a lack of capacity.

It said: “The biggest decline was in Libya, where supply dropped by 70,000bpd as unrest continued to curb the country’s output.

“Output in Iran also fell. Exports declined, sources in the survey said, in part because Iran has shipped less oil to China since the start of the Ukraine war as Beijing favoured cheaper Russian crude.”

The Reuters survey aims to track supply to the market.

It is based on shipping data provided by external sources, Refinitiv Eikon flows data, information from tanker trackers such as Petro-Logistics, as well as information provided by sources at oil companies, OPEC and consultants.


Join Our WhatsApp Channel

Nigerians can now earn US Dollars monthly by acquiring domains cheaply and reselling for profits up to $18,000 (nearly ₦30Million). Beneficiaries include professionals, entrepreneurs, civil servants and more. Click here to start.


Tags: Crude Oil
SendShare10190Tweet6369Share
ADVERTISEMENT
Previous Post

Investment In FGN securities profitable, Risk-free – DMO

Next Post

Banks’ Credit To Private Sector Hits N37.13trn In 4 Months

Nse Anthony - Uko

Nse Anthony - Uko

You May Like

Malabu Oil: Abacha Family Wants Minister To Withdraw Claims On Court Cases
Business

Global Oil & Gas Contracts Up By $7bn In Q2

2025/08/26
Fadaella Foods To Capture Nigerian Market With New Products
Business

Fadaella Foods To Capture Nigerian Market With New Products

2025/08/26
Africa Prudential Records 75% PBT Growth, N41.35bn Assets In H1
Business

Africa Prudential Records 75% PBT Growth, N41.35bn Assets In H1

2025/08/26
FG, Imo, NDPHC Seek Speedy Completion Of Egbema Power Plant
Business

Kano Manufacturers Engage NDPHC On Direct Power Supply

2025/08/26
Insurance Firms Begin Self-prescribed Recapitalisation As Minimum Capital Controversy Rages
Business

New Law Offers N2m Medical Compensation For Uninsured Accident Victims

2025/08/26
CIIN Emphasises Importance Of Unity In Insurance Industry
Business

CIIN Emphasises Importance Of Unity In Insurance Industry

2025/08/26
Leadership Conference advertisement

LATEST

BREAKING: Fate Of Passengers Unknown As Abuja-Kaduna Train Derails

Falana Slams Planned Salary Hike For Politicians Amid Worsening Hardship

We’ve Crushed Corruption In Forex Market, Says Tinubu

Nigeria’s Defence Minister Engages Brazilian Counterpart To Deepen Bilateral Cooperation

Rasheedat Ajibade Seals PSG Move Till 2027

Akwa Ibom APC Stalwarts Accuse Minister Of Anti-Party Activities

Turkey’s Transport Minister Fined After Posting Own Video While Driving On Excessive Speed

2027: Peter Obi Should Be Cautious Of ADC Coalition – Prof. Adibe

Why Benue Assembly’s Ex-Speaker Dajoh Resigned

Nnamdi Kanu’s Detention Was First Matter I Tabled Before Tinubu — Gov Mbah

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.