OIL & GAS
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Major Petrol, Diesel Price Cuts Expected Over Crude Slump
Marketers of refined petroleum products say petrol and diesel prices may drop as crude oil prices slump again. However, the…
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Electricity Subsidy Spending Balloons To N762bn
Electricity subsidy has increased to about N762bn in the first four months of 2025. Figures from various reports of the…
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IPMAN Warns Against Losses As SGR Sells Petrol At N899/litre
As the Federal Government ordered the return of the naira-for-crude policy, the Independent Petroleum Marketers Association of Nigeria has warned…
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OPEC Cuts Global Oil Demand Growth Forecasts Over US Tariffs
The Organisation of the Petroleum Exporting Countries on Monday slightly cut its forecast for oil demand growth, citing the impact…
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Again, Crude Output Drops Amid Global Price Crash
As the world battles a global crude price crash, Nigeria’s average daily crude output has fallen again in March, threatening…
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FG, Chinese Firm Sign $328.8M Electricity Transmission Agreement
The Federal Government on Wednesday signed a $328.8m contract with Chinese firm China Machinery Engineering Corporation to rehabilitate and expand…
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Crude Crashes To $60 As China Raises Tariff Against US
Crude oil prices crashed further on Wednesday as Brent fell to $60 per barrel down from about $63 on Tuesday.…
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FEC Orders Full Implementation Of Naira-For-Crude Deal
The Federal Executive Council has officially directed the full implementation of the suspended Naira-for-Crude agreement with local refiners. The Ministry…
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Communities Issue 14-Day Ultimatum To Shut Down Oil Production
Nigeria’s oil production faces a fresh crisis as host communities in Bayelsa State’s coastal region have issued a 14-day ultimatum…
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Tinubu Sacks NNPCL Boss Kyari, Names Ojulari As Replacement
In a sweeping reconstitution of the Nigerian National Petroleum Company Limited board, President Bola Tinubu has removed the chairman, Pius…
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FG Threatens To Revoke Dormant Oil Blocks Licences
The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, threatened to withdraw oil blocks from owners that have failed…
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65% Tank Farms Dormant Due To Fuel Subsidy Removal
As the battle to control market share in the downstream sector rages on, no fewer than 70 tank farm owners…
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NASS Recovers Fresh $14m From Oil Companies
The National Assembly’s House of Representatives Public Accounts Committee has recovered an additional $14.2m (N21.4bn) from four oil and gas…
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P’Harcourt Refinery Hits 180-Day Non-Stop Operation — PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria has commended the Federal Government and the management of the Nigerian…
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Benin, Togo Owe Nigeria $8.8m Electricity Debt — FG
Benin Republic and Togo owe Nigeria $8.84m for the electricity consumed in the fourth quarter of 2024. The Nigerian Electricity…
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Oil Earnings Threatened As Explosion Rocks 450,000bpd Pipeline
Nigeria’s daily oil output might be affected following an explosion that rocked a section of the Trans Niger Pipeline in…
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PENGASSAN Threatens To Withdraw Members From Upstream Operations
The Petroleum and Natural Gas Senior Staff Association of Nigeria has threatened to withdraw all its members from every upstream…
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Imported Petrol Landing Cost Drops To N797.66/Litre
The landing cost of imported Premium Motor Spirit (petrol) dropped to N797 per litre on Monday, amid plans by oil…
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Dangote Refinery Polypropylene Set To Hit Market
The Dangote oil refinery has commenced the startup of its polypropylene facility in Lagos. Media correspondent gathered that the polypropylene…
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Renaissance Completes Acquisition Of Shell Onshore Asset
Renaissance Africa Energy Holdings says it has successfully completed the landmark transaction between itself and Shell for the acquisition of…
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