OPEC Archives - Voice of Liberty NG

Nigeria’s crude oil output rises to 1.459m bpd in January – OPEC

February 13, 2026February 13, 2026 Aminu Imam

Nigeria’s crude oil production rose to 1.459 million barrels per day (bpd) in January 2026, reinforcing its position as Africa’s largest oil producer despite falling short of its Organisation of Petroleum Exporting Countries (OPEC) quota. The figures were disclosed in OPEC’s latest Monthly Oil Market Report (MOMR) released on Wednesday. The latest data highlights modest month-on-month growth in output but underscores Nigeria’s continued struggle to meet its assigned production ceiling. The increase signals gradual recovery in output levels, even as structural and operational challenges persist in the oil sector. While…

‘Ɗangote Refinery production pushing EU refineries out of business’ – OPEC

January 17, 2025January 17, 2025 Aminu Imam

The Organisation of Petroleum Exporting Countries, (OPEC), says the Ɗangote Refinery is affecting European markets, noting that importation of petroleum products in Nigerian has dropped reasonably. OPEC, in a report issued on Wednesday, disclosed that in the last quarter of 2024, “imports also declined, particularly oil product imports, improving the outlook for the external sector”. Recall that in September last year, Ɗangote Refinery, a $20 billion project spearheaded by billionaire Aliko Ɗangote, officially begun petrol production, marking a significant milestone in Nigeria’s energy sector. Announcing the feat, Ɗangote said: “This…

Angola quits OPEC�effective�immediately�

December 23, 2023December 23, 2023 Aminu Imam

In a stunning development, Angola has announced its decision to leave the organisation of the Petroleum Exporting Countries (OPEC), effective immediately. The country’s oil Minister, Diamantino Azevedo, in a televised address, declared that OPEC membership was no longer serving Angola�s best interests, but declined to elaborate further, Reuters reported. This unexpected move throws a wrench into the oil cartel�s plans and sends shockwaves through global markets. Angola, a member of OPEC since 2007, cited dissatisfaction with the organization�s policies as the driving force behind its departure. Oil prices plunged on…

Nigeria�s refining capacity crashes to 6,000bpd � OPEC

September 8, 2023September 8, 2023 Aminu Imam

Nigeria�s crude oil refining capacity has further reduced to just 6,000 barrels per day (bpd), according to data obtained from the Organisation of the Petroleum Exporting Countries, (OPEC). In its latest Annual Statistical Bulletin 2023, OPEC said the country�s capacity to refine its crude oil went from 33,000 bpd in 2018 to 6,000 bpd in 2022. The country�s crude oil refining capacity was down by 33 per cent last year from 5,000 bpd in 2021. According to the oil cartel, Nigeria has an average refining capacity of 10,600 bpd in…

Crude Oil theft: Nigeria drops to Africa�s fourth largest oil producer

October 13, 2022October 13, 2022 Aminu Imam

…Angola leads Nigeria is facing a record reduction in oil production, oil cartel OPEC reports, dropping from the first largest producer in Africa to the fourth, behind Angola, Algeria and Libya. The latest monthly oil market report released by the Organisation of Petroleum Exporting Countries (OPEC) yesterday shows that in September Angola produced the most oil on the continent, at 1.18 million barrels per day (bpd), followed by Libya, with 1.152 million bpd. The report also said that Algeria produced 1.04 million bpd, while Nigeria pumped 1.09 million bpd in…

Just In! OPEC Secretary-General, Muhammad Barkindo, is dead

July 6, 2022July 6, 2022 Aminu Imam

The outgoing Secretary-General of OPEC, Muhammad Sanusi Barkindo, is dead. Barkindo, who was received by President Muhammadu Buhari on Monday, and later gave a speech at the ongoing Nigeria Oil and Gas conference (NOG), died at about 11 pm on Tuesday night. The Group Managing Director of NNPC Ltd., Mele Kyari, confirmed the death in a tweet on Wednesday morning. �We lost our esteemed Dr. Muhammad Sanusi Barkindo. He died at about 11 pm yesterday, July 5, 2022. Certainly a great loss to his immediate family, the NNPC, our country…

OPEC: ‘Nigeria unable to meet output quota due to unwarranted oil theft’ – Emefiele

March 23, 2022March 23, 2022 Aminu Imam

The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the country is unable to meet its production quota due to unwarranted oil theft in the sector. Emefiele said this on Monday, at the end of the 284th monetary policy committee (MPC) meeting in Abuja. After the MPC meeting, the committee concluded to retain the Monetary Policy Rate (MPR), otherwise known as the interest rate, at 11.5 percent with the asymmetric corridor of +100/-700 basis points around the MPR. The apex bank governor said one of the…

Kuwait�s Al-Ghais replaces Barkindo as OPEC Secretary-General

January 5, 2022January 5, 2022 Aminu Imam

The Organisation of the Petroleum Exporting Countries, (OPEC), has voted for Kuwait�s candidate, Haitham al-Ghais as the cartel�s next Secretary-General, to replace Nigerian Mohammad Barkindo in July, according to Reuters news agency. The new Secretary-General will have to balance OPEC revenue needs against pressures from the United States to pump more oil to help to meet demand as it recovers from the Covid-19 pandemic. �He knows OPEC inside and out,� according to the chairman of consultant JBC Energy Group in Vienna, Johannes Benigni, adding that, �At the same time, he…