Nigeria chose to join OPEC cut: oil min

Nigerian oil minister Emmanuel Ibe Kachikwu has said the country did not seek an exemption from the OPEC production cut, local media reported Monday.

“We didn’t ask for exemption; we wanted to make sure everybody shared in the pain. If some happenstance occur, you are expected to come back to ask for exemption,” Minister of State Kachikwu told This Day.

Nigeria had been exempted from previous production caps as it has been trying to raise output after militant disruptions to production and pipelines. Last year, the country announced a voluntary limit of 1.8 million bopd.

Recent Posts

Seatrium wins MODEC contract for Guyana-bound FPSO

Singapore’s Seatrium has secured a topside integration project for the FPSO Errea Wittu from Offshore Frontier Solutions, a MODEC Group… Read More

12 hours ago

UK allows oil exploration in North Sea wind project zones

The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More

3 days ago

ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse

ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More

3 days ago

BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin

BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More

3 days ago

Chariot starts gas drilling campaign in Morocco

Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More

3 days ago

Touchstone acquires Trinidad E&P player Trinity

Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More

4 days ago

This website uses cookies.