Kyari Foresees Sustained Rise in Oil Demand with Economic Growth in Africa, Reopening in China *Says Nigeria planning output hike to feed revamped refineries Emmanuel Addeh in Abuja Any report that global crude oil demand may collapse soon is
Any report that global crude oil demand may collapse soon is not realistic, especially with increasing economic growth in Africa and the reopening of the Chinese economy, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited , Mallam Mele Kyari, has predicted.
“I do not see how this demand will collapse because countries are coming back. China is recovering from COVID-19 and a number of countries, particularly sub-Saharan African countries, are growing. Speaking on Nigeria’s oil outlook, Kyari said the country plans to increase its production in 2023, but with two domestic refineries being refurbished, not all of the extra crude output will be exported.
Nigeria lost around 500,000 bpd of oil production to theft in 2022, according to government estimates. Nigeria’s Minister of State for Petroleum Timipre Sylva has said the battle against oil thieves was gradually being won. China has relaxed some of its pandemic restrictions ahead of the Lunar New Year holiday, though analysts are divided on whether rising infection rates in the country will offset any increase in oil demand for transportation.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Many feared dead as truck conveying PDP supporters crashes in PlateauSeveral others sustained injuries in the crash and are being treated in hospitals around the area.
Read more »
Cashless transactions rise to N395tnCashless transactions in Nigeria rose by 42.05 per cent to hit N395.47tn in 2022, according to new data from the Nigeria Inter-Bank Settlement System.
Read more »
JUST-IN: 10 Die, 9 Injured In Ogun Fatal Road AccidentAt least 10 persons were confirmed dead, while another nine persons sustained varying degrees of injuries in an accident, which occurred in the early hours of S
Read more »
Wike: I Commend Buhari for trying to defeat Boko Haram - Daily TrustRivers State governor, Nyesom Wike, has commended President Muhammadu Buhari, for his “sustained efforts” to defeat Boko Haram insurgents and bandits terrorising and destroying parts of the country.
Read more »
BREAKING: Terrorists Burn Catholic Priest To Ashes, Shoot Assistant In Niger Community, North Central Nigeria | Sahara ReportersBandits in the early hours of Sunday attacked St. Peters and Paul Catholic Church located along Daza Road, Kafin-Koro in the Paikoro Local Government Area of Niger State and burnt the priest, Very Rev. Fr. Isaac Achi to ashes. A source in the area told SaharaReporters that Fr. Achi's assistant identified as Father Collins also sustained gunshot wounds and was rushed to an undisclosed hospital for treatment.
Read more »
NECA Recommends Policy Options for Nigeria’s Economic Growth – THISDAYLIVE
Read more »