By Fred Latimore Oghenesivbe Esq
Delta news blog is a news platform which covers all happening activities within and outside Delta state and the world in general. we aim on giving you the very best of past and current information's for your awareness.
By Fred Latimore Oghenesivbe Esq
The Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC oil ministers, yesterday, increased Nigeria’s oil quota to 1.772 million barrels per day, mbpd for June, from 1.753 mbpd for May 2022, according to its June 2022 Required Production released yesterday.
This showed a marginal increase of 19,000 bpd or one percent when compared to the previous quota, which the nation was unable to meet.
However, with Nigeria’s crude oil grade, Bonny Light at $110 per barrel, the new quota translates to daily oil revenue of $194.92 million or N81.67 billion.
Under the new quota, Nigeria’s allocation remains the highest in Africa, followed by Angola and Algeria, with 1.480 mbpd and 1.023 mbpd respectively.
However, while Sudan got 73 bpd (the least) as its quota, the ministers put the oil quota of Russia, which oil has already been banned by the European Union at 10,663 mbpd, apparently the highest.
In a statement obtained by Vanguard, OPEC stated: “Following the conclusion of the 28th OPEC and non-OPEC Ministerial Meeting, held via video conference on 5th May, it was noted that continuing oil market fundamentals and the consensus on the outlook pointed to a balanced market.
“It further noted the continuing effects of geopolitical factors and issues related to the ongoing pandemic. The OPEC and participating non-OPEC oil-producing countries, therefore, decided to reaffirm the decision of the 10th OPEC and non-OPEC Ministerial Meeting on 12th April 2020 and further endorsed in subsequent meetings, including the 19th OPEC and non-OPEC Ministerial Meeting on the 18th July 2021.”
Speaking, Dr. Diran Fawibe, Chairman of International Energy Services Limited, said the market might continue to record increased instability as Nigeria will not be able to meet its quota, apparently because of increased pipeline vandalism, oil theft and illegal refining in the Niger Delta.
He said: “The oil and gas companies have not been investing much, partly because of the delay associated with the passage of the nation’s Petroleum Industry Bill, PIB, which has now become an Act. Consequently, a lot of investments went to other nations, leading to the low production capacity of the country.
“The nation’s ageing facilities also affected the industry. Unlike in the past when Nigeria was able to increase production to support OPEC whenever other nations had problems, Nigeria cannot do so at this time. Even with its commercial condensate, Nigeria still struggles to produce about 1.4 mbpd.”
Recall also that the federal government had blamed the country’s inability to attain the approved target to activities of vandals, refineries turnaround maintenance, amongst others.
Delta State gubernatorial aspirant and businessman, Uba A. Michael on Wednesday, met the House of Representatives member and founder of sports betting platform, Nairabet, Akin Alabi.
Both entrepreneurs, Uba A. Michael and Akin Alabi are young leaders who have made themselves examples for young Nigerians looking at getting involved in politics.
Uba A. Michael is the Chairman of UBACLE GROUP while Akin Alabi is Chairman, House Committee on Governmental Affairs
Details Later....
ASABA:
Member representing Ndokwa East State Constituency and Chairman Friday Osanebi Foundation, Rt. Hon. Friday Ossai Osanebi has been nominated as the most influential young deltan for the year 2021.
Making the announcement, organizers of the 100 most influential young Deltans Awards, DeltaNews247 and MayorKings Agency stated that after a careful and thorough process, Osanebi was unanimously voted for by the panel of strict judges.
Explaining further, the Lead organizer and President of the Mayorkings Agency Group Amb. Louis Temisan said that Osanebi was nominated alongside 99 other young deltans, but his stellar impart both in politics and business placed him above every other nominee, adding that Osanebi has remained one of deltans most celebrated young role model.
According to the organizers, the awards initiated to recognize young deltans whose influence transcends their immediate environment will hold on Thursday the 15th of July 2021 at Vienna International Hotel Asaba and this is the second edition.

Emiko Odin Etuwewe, leader of warri south west council congratulates Mr. John bull Edema, the commissioner nominee for warri south west constituency and also thank the state governor sen. Ifeanyi okowa for the kind gesture.
RT. Hon. Emiko odin etuwewe mentioned that he is happy with this development on behalf of the bini River axis of warri south west aka orere people , because this is another milestone for us even though it doesn’t fully compensate the input the electorate puts into the polity since 1999.
I am also using this opportunity to advocating for political profiling for more of our people in orere especially the youths and women.
Pastor Temitope Balogun Joshua popularly known as T. B. Joshua, is dead.
Born on June 12, 1963, he was a televangelist and philanthropist.
He reportedly died in Lagos on Saturday evening shortly after concluding a programme at his church.
TB Joshua was the leader and founder of The Synagogue, Church of All Nations (SCOAN), a Christian megachurch that runs the Emmanuel TV television station from Lagos.
According to Wikipedia, Joshua was known for his popularity across Africa and Latin America and his social media presence with 3,500,000 fans on Facebook.
His YouTube channel, Emmanuel TV, had over 1,000,000 YouTube subscribers and was the world’s most viewed Christian ministry on the platform before it was suspended.
The cause of his dead was unknown as at the time of this report.
Details Later…
A renowned philanthropist, Engr. Obah Julius has been bestowed with a honorary Doctorate Degree from the Prowess University Dela...