Last updated on September 11th, 2021 at 02:56 pm
Nigeria will cut its oil production by 1.9 million barrels per day. This will reduce its daily crude oil production to 1.412 million barrels.
Abuja is hoping for a $15 rebound in the price per barrel in the short term. This rebound that could bring at least 2.8 billion dollars to the country, according to its oil minister.
The decision comes after a historic agreement reached by OPEC members on Thursday. The latter agreed on a reduction in May and June of the world production up to 10 million barrels per day.
The aim is to help the price of black gold, which has fallen victim to the covid-19 pandemic to recover. This fall is suffocating the economies of African producers.
Countries have been forced to revise their current budget calculated on a reference price higher than the current prize. That’s below the 20 dollar mark.
Nigeria was expecting a barrel of oil at 57 dollars with a production of 2 million barrels per day.
A group called Progressive Forces in South Africa has launched a petition against MissUniverse Nigeria Chidimma Adetshina, with the aim…
Mauritius on Saturday overruled its decision to prohibit social media until the election onNovember 10th which was caused by a…
The UAE’s Crown Prince of Abu Dhabi, His Highness Sheikh Khaled bin Mohamed bin Zayed AlNahyan was in Addis Ababa…
Gilbert Machokoto, a former teacher, said that setting up a business in the late 1980s, shortlyafter Zimbabwe's independence, was ‘like…
Following elections in which the party that had ruled the diamond-rich nation for almost 60years suffered a historic setback. Botswana's…
A lightning strike at a refugee camp in Uganda kills 14 people including children with 34 othershospitalized. The incident happened…
This website uses cookies.