Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,017 members, 7,810,814 topics. Date: Saturday, 27 April 2024 at 04:00 PM

Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota - Politics (3) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota (7643 Views)

NNPCL Confirms Rise Of Oil Production To 1.6 Million BPD / Dangote Refinery Agrees To Buy 300,000 BPD Of Crude For 20 Years From NNPC / Nigeria's Oil Production Falls To 1.083 Million BPD In July (2) (3) (4)

(1) (2) (3) (Reply) (Go Down)

Re: Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota by Konquest: 12:59pm On Mar 04
AnonPoet:
Relief as Nigeria Nears OPEC’s Renegotiated 1.5m bpd Quota


https://www.thisdaylive.com/index.php/2024/03/03/dangote-refinerys-second-crude-oil-shipment-leaves-us-for-nigeria?amp=1
Re: Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota by sulaak(m): 4:54am On Mar 05
oilyngbati:
The US is not the largest producer of oil, it’s Russia at the moment. The US produces 10.5m barrels/day, while Russia produces 16.8m barrels/day



Where do you get your data from? Every online source states that the USA is the largest producer of oil, LNG and Natural gas. please use google and review current data.


https://www.visualcapitalist.com/charted-worlds-biggest-oil-producers-in-2022/
Re: Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota by ivolt: 6:42am On Mar 05
Emu4life:
This OPEC caps doesn't make sense to me. How can Saudi Arabia, Iraq, Iran, UAE, Russia, Kuwait and others with small population have times 5 (or even more) of the Nigerian qouta despite our large population?

If we have sensible leaders, we should have exited OPEC and targeting 10m barrels production per day.
Honestly, this OPEC qouta shit doesn't make much sense.
Without OPEC, oil may sell for $20-$30 per barrel.
Good for the buyers but bad for the government.

And if it comes to every country producing their maximum,
Nigeria wouldn't even make top 20 and the so-called production
increase will be eaten away by production.
Yes, our oil is one of the most expensive to produce.
Re: Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota by ivolt: 6:45am On Mar 05
NinjaMetahuman:
Why is Nigeria still doing the nonsense opec?


Nigeria is currently facing fx crisis and one organization is telling them they cant sell stuff that will fix the problem.
Sell 2 million barrel at $70 per barrel or sell 4 million barrel at $30.
The choice is yours.
Re: Nigeria Nears OPEC’s Renegotiated 1.5 Million BPD Quota by NinjaMetahuman: 8:29am On Mar 05
ivolt:

Sell 2 million barrel at $70 per barrel or sell 4 million barrel at $30.
The choice is yours.
the way America has been paying Abi.

Should I remind you that Angola just also quit same opec citing same reason in this same article?

Are they selling at 30 dollars now?

Why can't big opec countries like Saudi and Qatar reduce their own 10million barrels to 9million and let Nigeria add 1 million barrels?

Saudi doesn't have fx crisis, they don't have high population of unproductive citizens to deal with like Nigeria.

They have enough fx that they are building irrelevant dystopian city in the middle of desert while Nigerians suffer inflation because of fx crisis.

By the way, If selling for 30 dollars will bring equity to opec, they should do it.

(1) (2) (3) (Reply)

Orji Wins Abia State / Buhari Congratulates Oyegun On His 77th Birthday / Buhari Kicks Off Total Islamization Of Nigeria In Kastina (photo)

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 14
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.