OIL & GAS
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FG Targets Oil Theft Through Youth Engagement, Community Development
The Nigerian Upstream Petroleum Regulatory Commission and the Federal Ministry of Defence have agreed to strengthen collaboration on the protection…
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Crude Falls After 19m Barrels Cross Hormuz Strait
President of the United States, Donald Trump, says a record 19 million barrels of oil flowed out of the Strait…
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Stakeholders Seek Stronger Enforcement, Approach To Track Gas Flaring
Stakeholders in Nigeria’s extractive sector have raised concerns over the human and environmental consequences of methane emissions and gas flaring…
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Crude Oil Prices Fall As US–Iran Peace Deal Boosts Global Equities
Oil prices tumbled, and stocks soared on Monday after the United States and Iran said they had reached a deal…
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‘Over 70% Of Eligible NNPC Staff Seek Exit’
The Nigerian National Petroleum Company Limited has commenced an early retirement scheme that is already attracting significant interest from employees,…
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Domestic Gas Sales Rise 30% On Reforms – Report
Nigeria’s domestic gas market recorded a significant increase in sales, rising by about 30 per cent between January 2022 and…
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NNPCL, Security Agencies Intensify Crackdown On Pipeline Vandals
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and security agencies have intensified efforts to combat pipeline vandalism following the discovery…
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Power Sector Lost N310bn In Three Months – NERC
Nigeria’s electricity distribution companies lost about N310bn in the first quarter of 2026 due to unbilled energy and poor revenue…
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FG Fixes June 12 Deadline For Oil Bids
The Federal Government through its Nigerian Upstream Petroleum Regulatory Commission has fixed Friday, June 12, 2026, as the deadline for…
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Nigeria’s Blackout Persists Despite $3.6bn W’Bank Loans – Report
Nigeria’s electricity sector has received at least $3.653bn in World Bank-backed funding over the past 24 years, yet millions of…
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Dangote Plans To Process 130 Crude Grades – Report
The Dangote Petroleum Refinery is planning to expand its crude processing flexibility to as many as 130 different crude grades.…
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NNPC Posts N481bn Profit Amid Revenue Surge
The Nigerian National Petroleum Company Limited has recorded a significant month-on-month surge in performance, with revenue climbing sharply to N4.97tn in…
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Oil Revenue Falls N7.88trn Below Budget Target In Q3’25
Nigeria’s oil revenue performance fell sharply below budget expectations in the third quarter of 2025 (Q3’25), as the gross oil revenue…
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Chinese Investors May Acquire 51% Stake In PH, Warri Refineries
The Nigerian National Petroleum Company Limited is considering an NLNG-style equity partnership that could hand Chinese investors a majority stake…
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DisCos Install 241,590 Meters Amid Billing Complaints
Electricity distribution companies installed 241,590 meters across Nigeria in the first two months of 2026 amid ongoing efforts to reduce…
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Nigeria’s Oil Exploration Declines 41.7% As Rig Count Falls — OPEC
Nigeria’s oil exploration and drilling activities declined by 41.7 per cent in April 2026, following reduced upstream operations and investment activities.…
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Nigeria Oil Firms Surge Under Local Content Policy
Oil operating firms in Nigeria have increased from fewer than 10 before the implementation of local content policies to about…
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Dangote Refinery Reduces Jet Fuel Price To N1,650/litre
The Dangote Petroleum Refinery has dropped the price of jet fuel from N1,750 to N1,650 per litre. The company disclosed…
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Lagos Plans End To Electricity Band Classification
The Lagos State Government says it is planning to phase out the classification of electricity customers into different bands as…
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FMDA Forecasts 16.42% April Inflation Rate Amid Fuel, Food Prices Surge
The Financial Market Dealers Association (FMDA) has projected Nigeria’s headline inflation rate to rise to 16.42 per cent year-on-year in April…
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