Nigeria, Africa’s largest crude oil producer, has paradoxically relied on imported petroleum products due to inadequate refining capacity. Now, the country is making a strategic shift to reverse this trend..
The Niger Delta, one of Africa’s most resource-rich regions, accounts for approximately 75% of Nigeria’s foreign exchange earnings and nearly 40% of the country’s GDP. Yet, it remains a paradox.
As OPEC+ prepares for its virtual meeting on June 2, 2024, the global oil market finds itself at a critical juncture. Crude oil prices have exhibited significant volatility this year,.
Polish oil refiner PKN Orlen expects to receive a first ever shipment of Nigerian crude oil next month, its CEO said, as Poland seeks to reduce its reliance on Russian.
OPEC announced that Libya’s crude oil production exceeded 1 million barrels per day during last September. The monthly report of OPEC clarified that Libya’s production rose to more than one.
Libya resumed crude oil exports to the United States in September after a halt last month amid earlier port closures, Reuters data showed Monday. According to the data, four tankers.
