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Nigeria s PIB heralds progress for royalty payments

Nigeria s PIB heralds progress for royalty payments
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Nigeria backs OPEC+ oil supply boost to keep prices affordable | Hellenic Shipping News Worldwide

Nigeria backs OPEC+ oil supply boost to keep prices affordable Nigeria Africa’s largest crude oil producer and an OPEC member is backing an easing of output cuts by the producer group to push prices lower and more affordable for key consumers. Mele Kyari, the head of state-owned Nigerian National Petroleum Corp. and the country’s representative at OPEC, said June 30 that oil prices were “very high” and starting to constrain both producers and consumers. “Producers are aware that when your prices are too high you lose your customers … you have to bring it to a level that your customers can afford,” Kyari said on national television.

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