* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, July 5, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

    Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

    Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

    Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

    Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Oil Earnings Hit N1.68tn in Q1, 2023

July 15, 2023
in Business
Oil Earnings Hit N1.68tn in Q1, 2023
Share on FacebookShare on Twitter

Crude Oil PricesCrude Oil Prices

FIRS

Nigeria’s crude oil earnings rose to over N1.68tn in June 2023 following an increase in the country’s output last month, an analysis of latest oil production figures released by the Federal Government showed.

Data obtained on Thursday from the June 2023 crude oil production report of the Nigeria Upstream Petroleum Regulatory Commission indicated that the country’s daily oil output in the review month rose to 1,248,960 barrels.

Nigeria had pumped 1,183,691 barrels of crude oil daily in May, which was 65,269 barrels lower than what the country produced in June.

The new report also stated that the total crude oil output in June was 37,468,798 barrels, up from a total of 36,694,427 barrels that was produced in the preceding month of May.

This implied that Nigeria’s oil output increased by 774,326 barrels in June when compared to what it produced in May.

Data from the World Bank put the average cost of crude oil in June 2023 at $74.89/barrel. By delivering an increased production of 37,468,798 in June, it implied that the country raked in about $2.81bn from the commodity last month.

Also Read: Foreign Investments in Manufacturing Falls by 35%, Says NBS

Therefore, at an average exchange rate of N600.43/$ in June, according to data from dollar/naira spot exchange rates for 2023, it meant that the Federal Government’s oil earnings in June rose to N1.68tn.

It was about N1.28tn in May when the average price of crude oil and the exchange rate in that month were $75.70/barrel and N461.4/$ respectively.

ad

The average exchange rate of the dollar increased in June, as the Central Bank of Nigeria unified the country’s exchange rates into the Investors and Exporters window on June 14, 2023, allowing market forces to determine the rate.

Oil output from Nigeria had been fluctuating since the past one year, as the country recorded its lowest oil production volume of 0.937 million barrels per day in September 2022. The Federal Government and oil sector players blamed this on the massive crude theft in Nigeria’s oil rich Niger Delta.

The situation also led to revenue losses for the country, international oil companies operating in NIgeria, as well as indigenous operators in the industry.

But the country’s oil output started improving after September, following concerted efforts by security officials and oil operators, as industry figures showed that crude production rose to 1.014 million barrels per day in October.

This indicated an increase of 0.077mbpd when compared to the 0.937mbpd output in September. In November, the country pumped 1.185mbpd crude, representing an increase of 0.171mbpd when matched against what was produced in October.

The rise in output continued in December last year, as Nigeria produced 1.253mbpd in that month, indicating an increase of 0.05mbpd when compared to its output in November.

The 1.258mbpd oil production in January 2023 was about 23,000bpd higher than the 1.235mbpd crude oil output in December 2022.

The momentum was sustained in February, with an output of 1.31mbpd. But the volume dropped to 1.27mbpd in March, putting an end to the seven-month run in Nigeria’s oil output. It further went down in April to 0.998mbpd.

Latest data from the NUPRC, on Thursday, showed that the rise in oil production in May was sustained in June, as the country pumped 1,183mbpd in May, while its output rose to 1.25mbpd in June.

guest post outreach service

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : EconomicConfidential – https://economicconfidential.com/2023/07/oil-earnings-rises/?utm_source=rss&utm_medium=rss&utm_campaign=oil-earnings-rises

Tags: businessEarnings
Previous Post

Foreign Investments in Manufacturing Falls by 35%, Says NBS

Next Post

NAF Pilots Succefully Eject from Crashed Trainer Aircraft

America ‘accuses’ one of China’s largest technology company: You plotted to steal our trade secrets and . – Times of India

America Charges Top Chinese Tech Giant with Plot to Steal Trade Secrets

July 5, 2025
The Billionaires Making Moves to Buy or Sell Sports Teams This Year – Business Insider

The Billionaires Making Moves to Buy or Sell Sports Teams This Year – Business Insider

July 5, 2025
Special Feature: Intraspecific variation in ecology & evolution – besjournals

Exploring the Fascinating World of Intraspecific Variation in Ecology and Evolution

July 5, 2025

NASA’s Lucy Mission Provides Full View of Asteroid Donaldjohanson – NASA Science (.gov)

July 5, 2025
Even old brains can make new neurons, study suggests – Popular Science

Even old brains can make new neurons, study suggests – Popular Science

July 5, 2025
Jonathan Anderson reinvents JW Anderson as lifestyle brand – FashionNetwork Canada

Jonathan Anderson Reinvents JW Anderson as a Vibrant Lifestyle Brand

July 5, 2025
Review: Jurassic World Rebirth is a prehistoric disaster – AZFamily

Jurassic World Rebirth: A Prehistoric Disaster Unleashed

July 5, 2025
Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

July 5, 2025
Elon Musk vows to start a new political party after Trump feud. Here’s why that’s harder than it sounds. – CBS News

Elon Musk vows to start a new political party after Trump feud. Here’s why that’s harder than it sounds. – CBS News

July 5, 2025
New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

July 4, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (705)
  • Economy (731)
  • Entertainment (21,620)
  • General (15,720)
  • Health (9,768)
  • Lifestyle (735)
  • News (22,149)
  • People (731)
  • Politics (739)
  • Science (15,948)
  • Sports (21,230)
  • Technology (15,715)
  • World (712)

Recent News

America ‘accuses’ one of China’s largest technology company: You plotted to steal our trade secrets and . – Times of India

America Charges Top Chinese Tech Giant with Plot to Steal Trade Secrets

July 5, 2025
The Billionaires Making Moves to Buy or Sell Sports Teams This Year – Business Insider

The Billionaires Making Moves to Buy or Sell Sports Teams This Year – Business Insider

July 5, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version