OIL & GAS
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Oil Extends Gains After Fresh US Strikes, Stocks Mostly Rise
Oil prices jumped again on Tuesday after fresh US strikes against Iran that marked a new escalation in hostilities that…
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Namibian Firm Buys 52 Shell, Engen Filling Stations
Nasan Energies has acquired 52 Shell and Engen-branded filling stations across Namibia in a deal estimated at $50m, becoming the…
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Dangote Dumps Naira, Begins Petrol Sales In Dollars
Dangote Petroleum Refinery has fixed the ex-depot price of Premium Motor Spirit (petrol) at $0.779 per litre, unveiling a new…
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Nigeria’s Oil Output Hits 74-Month High, Beats OPEC Quota
Nigeria’s crude oil production has climbed to its highest level in more than six years, with the country exceeding its…
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Only 217,784 Meters Installed Under $500m Power Project – Report
The Federal Government’s free electricity metering programme, launched with a $500m World Bank loan to close Nigeria’s metering gap by…
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OPEC+ Raises Quotas Again As Middle East Calms
Seven OPEC+ members decided on Sunday to again raise oil production quotas as Gulf countries reel from the Middle East…
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NMDPRA: Cooking Gas Exports Persist Despite Local Deficit
Domestic producers of Liquefied Petroleum Gas, popularly known as cooking gas, exported thousands of metric tonnes of the product and…
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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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