Close Menu

    Subscribe to Updates

    Get the latest news as they happen

    What's Hot

    Ekiti Guber Poll: INEC Assures Residents of Credible Exercise, Finalises Preparations 

    May 5, 2026

    LASAA Inaugurates Digital Directory, App

    May 5, 2026

    Dangote Cement Grows Exports By 71.6% As Capacity Hits 55MTA In Q1

    May 5, 2026
    Facebook X (Twitter) Instagram
    Megastar Magazine
    • Politics

      Ekiti Guber Poll: INEC Assures Residents of Credible Exercise, Finalises Preparations 

      May 5, 2026

      Ex-Minister Uche Nnaji Defects to PDP Amid Forgery Probe, Eyes Enugu Governorship

      May 4, 2026

      PDP Crisis: BoT Summons Emergency NEC Meeting to Avert Leadership Vacuum

      May 4, 2026

      Nigeria Blazes New Trail with Record-Breaking Start at World Athletics Relays in Botswana

      May 3, 2026

      Zamfara APC Congress: Gov. Lawal Declares Strong Political Base As Key to Governmental Strength

      May 3, 2026
    • Entertainment
      1. People
      2. Events
      3. Fashion
      Featured
      Entertainment May 4, 2026

      Mo Bimpe Requests Celebrating Market Women’s Presence at Children’s Naming

      Recent

      Mo Bimpe Requests Celebrating Market Women’s Presence at Children’s Naming

      May 4, 2026

      Carter Efe Beats Portable in Celebrity Boxing, E-Money Gifts N50m

      May 2, 2026

      DJ Tunez, Wizkid Announce New Collaboration Set for Release This May

      May 2, 2026
    • Business

      GTCO Plc Reports Profit Before Tax Of ₦302.9Billion, As It Releases 2026 Q1 Unaudited Results

      April 30, 2026

      Uber has introduced a new hotel booking feature within its app as part of its strategy to evolve into a comprehensive “everything app.” The service, developed in partnership with Expedia, allows users to search and reserve hotel rooms from a selection of more than 700,000 properties. The feature integrates travel tools such as maps, filters, and pricing options, while enabling payments through saved card details already stored in the Uber platform. According to Uber CEO Dara Khosrowshahi, the company is expanding beyond ride-hailing and food delivery to become a unified platform for a wide range of everyday services. Expedia CEO Ariane Gorin said the collaboration is aimed at simplifying travel planning and reducing the steps required to complete bookings. Uber also plans to extend the partnership to include short-term rental listings through Vrbo in the future. The move reflects a broader global trend toward multifunctional apps that combine services like transport, shopping, and payments in a single ecosystem, similar to platforms such as WeChat and Alipay in China. Other tech companies are also pursuing similar “super app” models, including Airbnb, which has added experiences and personal services, and X, which is exploring financial services integration. Uber further revealed plans to incorporate AI-powered tools, including meal planning, shopping list creation, delivery coordination, and a voice assistant for navigating the app.

      April 29, 2026

      BUA Cement Sustains Revenue Growth by 22.1% to N355bn in Q1 2026

      April 27, 2026

      Southwest Investment Summit and Awards 2026 Set to Drive Regional Growth, Honour Change-Makers

      April 26, 2026

      Transcorp Group reports ₦125.1bn revenue and ₦50.7bn profit before tax in Q1 2026 results

      April 25, 2026
    • Health

      Nigeria’s Malaria Prevalence Falls to 15%, From 20% ~ FG

      April 29, 2026

      Cross River Dismisses Report of New COVID-19 Cases

      April 23, 2026

      Cross River Activates Emergency Response As It Confirms First COVID-19 Case Since 2022

      April 23, 2026

      FG Bans Importation of Paracetamol, Metronidazole to Boost Local Drug Production

      April 19, 2026

      Heatwave Raises Malaria Risk as Health Officials Issue Nationwide Alert

      April 17, 2026
    • Culture

      Excitement Builds in Ijebu-Ode as Ojude Oba Festival Preparations Gather Momentum

      May 2, 2026

      Olu of Warri, Asantehene Seal Historic Royal Bond, Ogiamẹ Atuwatse III Receives Peace Artifact

      April 27, 2026

      Adron Homes Strengthens Cultural Influence During Ibadan Cultural Festival

      April 20, 2026

      Ogun State to Showcase “The Rock That Remembers” at Milan Design Week

      April 19, 2026

      Tourism: Olumo Rock Revenue Hits N40m Monthly After Refurbishment ~ Ogun Gov

      April 18, 2026
    • Lifestyle

      World Bank Highlights Early Childhood Development as Key to Nigeria’s Economic Future

      April 19, 2026

      Hilda Baci Secures Third Guinness World Record, Extends Culinary Milestone

      April 6, 2026

      Lagos Hosts “Homecoming Live Music Show” as Alternative Scene Takes Center Stage

      April 4, 2026

      QR Menus and Aesthetic-Driven Dining Redefine Restaurant Experience for Gen Z

      March 27, 2026

      How My Gold Jewelry Ended In Lagoon ~ Adeboye

      March 19, 2026
    • Sports

      Tinubu Hails Team Nigeria’s Historic 15th African Wrestling Title

      May 4, 2026

      Nigeria Blazes New Trail with Record-Breaking Start at World Athletics Relays in Botswana

      May 3, 2026

      CAF Announces Commencement Of Historic AFCON 2027 

      May 3, 2026

      Nigeria Opens Campaign with Gritty Win at ITTF World Team Championships

      April 30, 2026

      FIFA to Reduce Player Bans, Introducing New Yellow Card System

      April 28, 2026
    • Contact
    YouTube Facebook Instagram WhatsApp
    Megastar Magazine
    Home » Oil output increased by 35,000bpd in November – Report
    Business

    Oil output increased by 35,000bpd in November – Report

    Ifetayo AdeniyiBy Ifetayo AdeniyiDecember 12, 20253 Mins Read
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email Telegram
    Share
    Facebook Twitter WhatsApp Telegram Email

    Oil output increased by 35,000bpd in November – Report

    Organisation of the Petroleum Exporting Countries

    … still lower than the country’s allotted quota of 1.5 mbpd.

    Nigeria recorded one of the strongest month-on-month production gains among Organisation of the Petroleum Exporting Countries members in November 2025, pumping 1.436 million barrels per day, up from 1.401 mbpd in October, according to the December 2025 OPEC Monthly Oil Market Report.

    The figures, drawn from direct communication between member countries and the organisation, show that Nigeria added 35,000 bpd in November, its most significant rise in recent months.

    However, this is still below the country’s allotted quota of 1.5 mbpd, even as the country continues efforts to restore output toward the target. The increase underscores gradual improvements in upstream security and project optimisation across major producing terminals.

    This will be the fourth consecutive month Nigeria has failed to meet its assigned quota, the last time being in July 2025.

    Oil production, which fell sharply in August and September due to maintenance downtime and industrial action, appreciated slightly again in October and November, showing the struggle to return to meeting the OPEC quota once again.

    The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said recently that Nigeria would demand a higher oil production quota. Lokpobiri said the country’s current quota, pegged at about 1.5 mbpd, no longer reflects its true production capacity.

    According to him, Nigeria would make a strong case for an upward review to at least two million barrels per day. Lokpobiri’s comment came at a time when the country’s crude output dropped from over 1.5 mbpd in July to 1.39 mbpd in September.

    It was observed from the report that despite Nigeria’s growth, overall OPEC crude production was largely flat, rising by just 39,000 bpd to an estimated 25.17 mbpd in November.

    Saudi Arabia, OPEC’s largest producer, recorded the biggest absolute increase, adding 48,000 bpd to reach 10.05 million bpd. The kingdom continues to carry the heaviest share of the group’s voluntary output adjustments.

    Libya’s production also ticked up, rising by 14,000 bpd to 1.365 mbpd, maintaining its recovery trajectory despite lingering internal instability. Kuwait and the UAE reported mild increases of 10,000 bpd and 8,000 bpd, respectively.

    Venezuela sustained its slow output recovery, adding 10,000 bpd to reach 1.142 million bpd, supported by incremental operational improvements.

    Iraq posted the most notable drop, cutting 40,000 bpd to 4.1 mbpd amid renewed pressure from OPEC to improve compliance with agreed output levels. Congo recorded a smaller decline of 8,000 bpd, producing 269,000 bpd. Iran, Gabon, and Equatorial Guinea did not provide direct production figures.

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Previous ArticleFG offers up to N5m credit on CREDICORP loan to employed youths
    Next Article FirstBank Powers Mainland Laffs 3.0 to Light Up Lagos
    Ifetayo Adeniyi
    • Website

    Adeniyi Ifetayo Moses is an Entrepreneur, Award winning Celebrity journalist, Luxury and Lifestyle Reporter with Ben tv London and Publisher, Megastar Magazine. He has carved a niche for himself with over 15 years of experience in celebrity Journalism and Media PR.

    Related Posts

    Business April 30, 2026

    GTCO Plc Reports Profit Before Tax Of ₦302.9Billion, As It Releases 2026 Q1 Unaudited Results

    Business April 29, 2026

    Uber has introduced a new hotel booking feature within its app as part of its strategy to evolve into a comprehensive “everything app.” The service, developed in partnership with Expedia, allows users to search and reserve hotel rooms from a selection of more than 700,000 properties. The feature integrates travel tools such as maps, filters, and pricing options, while enabling payments through saved card details already stored in the Uber platform. According to Uber CEO Dara Khosrowshahi, the company is expanding beyond ride-hailing and food delivery to become a unified platform for a wide range of everyday services. Expedia CEO Ariane Gorin said the collaboration is aimed at simplifying travel planning and reducing the steps required to complete bookings. Uber also plans to extend the partnership to include short-term rental listings through Vrbo in the future. The move reflects a broader global trend toward multifunctional apps that combine services like transport, shopping, and payments in a single ecosystem, similar to platforms such as WeChat and Alipay in China. Other tech companies are also pursuing similar “super app” models, including Airbnb, which has added experiences and personal services, and X, which is exploring financial services integration. Uber further revealed plans to incorporate AI-powered tools, including meal planning, shopping list creation, delivery coordination, and a voice assistant for navigating the app.

    Business & Economy (Africa) April 27, 2026

    BUA Cement Sustains Revenue Growth by 22.1% to N355bn in Q1 2026

    Business April 26, 2026

    Southwest Investment Summit and Awards 2026 Set to Drive Regional Growth, Honour Change-Makers

    Business April 25, 2026

    Transcorp Group reports ₦125.1bn revenue and ₦50.7bn profit before tax in Q1 2026 results

    International Business April 24, 2026

    Dangote Refinery Exports 1.1bn Litres Of Aviation Fuel To Europe, Supplies 95% Of Nigeria’s Jet A1 – AON  

    Leave A Reply Cancel Reply

    Don't Miss
    Politics May 5, 2026

    Ekiti Guber Poll: INEC Assures Residents of Credible Exercise, Finalises Preparations 

    The Independent National Electoral Commission (INEC) has said that it had concluded major preparations for…

    LASAA Inaugurates Digital Directory, App

    May 5, 2026

    Dangote Cement Grows Exports By 71.6% As Capacity Hits 55MTA In Q1

    May 5, 2026

    As ALAT Hits 9, Wema Bank Restates Digital Banking Leadership

    May 5, 2026

    Subscribe to Updates

    Get the latest news as they happen

    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    Our Picks

    16th Edition Of Face Of Edo, 10th Edition of Face Of The World Nigeria Beauty Pageant Hold In Benin.

    November 11, 2021

    Dorian Homes Plans To Host Its First Children’s Christmas Party

    November 11, 2021

    Security Diplomacy and Regional Instability: Nigeria’s Expanding Battle Beyond Its Borders

    May 5, 2026
    New Comments
    • Anozie okolo on Supreme Court Affirms President Tinubu’s Victory As Atiku, Peter Obi Lose
    • Mc richman on Nigeria and South African Music histories
    • Moses Ibrahim on Olu of Warri: Pictorial @ The Ogiame Atuwatse III Economic Summit.
    • Sen Rich Kay on MALARIA ERADICATION: Prince Ned Nwoko & NMEP Meet for joint action.
    Megastar Magazine
    YouTube Facebook WhatsApp Instagram
    • Privacy Policy
    • Terms of Use
    • Contact Us
    © 2026 Megastar Magazine. Designed by MANNDI

    Type above and press Enter to search. Press Esc to cancel.