The OPEC Secretary-General, Mohammad Barkindo, said on Monday Nigeria has no intention of going beyond its oil production target of 1.8 million barrels per day (bpd) until the end of March 2018.
French energy giant Total will finally sign its multi-billion-dollar agreement to develop an Iranian offshore gas field on Monday, the oil ministry said, in the biggest foreign deal since sanctions were eased last year.
Investment in the oil and gas industry will see a tentative recovery in 2017 after an unprecedented contraction in 2016 and 2015 in face of stubbornly low energy prices, the International Energy Agency said in a report on Tuesday.
Russia called on OPEC to limit oil output rises from its members Libya and Nigeria in the near future, as it hosted a meeting of key OPEC states on Monday to discuss ways to prop up oil prices.
The Nigerian National Petroleum Corporation (NNPC) is still engaging in discussions for the importation of crude oil from the Niger Republic for the Kaduna Refinery and Petrochemical Company (KRPC) despite its apparent inactions for one year after the plan was unveiled, according to report.
Saudi Energy Minister Khalid al-Falih said Monday that OPEC and 10 other major oil producers remained supportive of conflict-torn Libya and Nigeria as they attempt to recover and increase crude production.
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