BUSINESS

Nigeria’s crude oil production surges 4.07% to 1.28 mbpd in April

Daily Dispatch May 15, 2024

The Organisation of Petroleum Exporting Countries (OPEC) has reported a notable uptick in Nigeria’s average daily crude oil production, reaching 1.28 million barrels per day (bpd) in April. Released in its latest monthly oil market report, OPEC attributed this increase to direct communication

BUSINESS

‘Shell’s Bonga boosted Nigeria’s 2023 production’

Daily Dispatch May 14, 2024

Shell Nigeria Exploration and Production Company Ltd, SNEPCo, produced more oil at Bonga last year than the previous one, a review of operations has shown. Nigeria’s first deep-water development produced some 138,000 barrels of oil per day (boepd) in 2023 compared to around 101,000 in 2022. Among other factors, the improvement was driven by drilling […]

BUSINESS

Why interest rates will remain high for now – CBN Governor, Cardoso

Daily Dispatch May 13, 2024

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has said interest rates would remain high until inflation rate comes down. Cardoso stated this in a Financial Times report on Monday. The CBN boss also said orthodox policies would be implemented to tame inflation. He said there is “every indication” that MPC would “do whatever […]

BUSINESS

NNPC E&P Ltd, NOSL Hit First Oil in OML 13, Akwa Ibom State

Daily Dispatch May 13, 2024

NNPC Exploration and Production Limited (NNPC E&P Ltd), NNPC Ltd’s flagship upstream subsidiary, and Natural Oilfield Services Ltd (NOSL), a subsidiary of Sterling Oil Exploration & Energy Production Company Ltd (SEEPCO), announce the successful commencement of oil production at Oil Mining Lease (OML) 13 in Akwa Ibom State, Nigeria. The production, which commenced

BUSINESS

United Nations Nigeria partners Sterling One Foundation to co-convene ASIS 2024

Daily Dispatch May 13, 2024

This is part of the goals of its partnership with the Sterling One Foundation geared towards building more effective multi-sectoral partnerships on impact investments in critical sectors through the Africa Social Impact Summit (ASIS). Last year, the UN and Sterling One Foundation co-convened the Summit with the support of various stakeholders working towards sustainable

BUSINESS

We need public, private sector collaboration to meet energy goals – Ekpo

Daily Dispatch May 9, 2024

Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo has called for increased collaboration between public and private sector investors in order for the country to achieve its energy goals. The Minister stated this during the official unveiling of the Gazettes on National Energy Policy and National Energy Master Plan by the Energy Commission […]