Fuel Subsidy Cost Nigeria N1.16tn in 2021 as Senate Panel Threatens Auditor-General
Nigeria’s fuel subsidy bill hit a staggering N1.16 trillion in 2021, as the Senate’s ongoing investigation into the oil and…
Category: Energy
India Turns to Nigeria for 4 Million Barrels as US-Iran Crisis Disrupts Oil Supply
India is turning increasingly to Nigeria for crude oil as growing tensions linked to the US-Iran crisis continue to disrupt…
GH¢2 Diesel Price Cut Won’t Reduce Government Revenue, Minister Explains
The government’s GH¢2 per litre reduction in diesel prices will not result in a loss of government revenue, Minister of…
Dangote Refinery Overtakes U.S. as Europe’s Biggest Jet Fuel Supplier
Dangote Petroleum Refinery has strengthened Nigeria’s position in the global energy market after emerging as Europe’s largest supplier of jet…
FG Rolls Out 60.82MW Renewable Power Projects as Yobe Gets New Solar Mini-Grids
The Federal Government is stepping up efforts to tackle Nigeria’s electricity challenges with the rollout of 60.82MW renewable power projects…
Seplat to complete 10% NNPC JV sale December
Seplat Energy is on course to complete the sale of a 10 per cent working interest in its joint venture…
Nigeria Sets Sights on $50bn Offshore Oil Investment Boom by 2030
Nigeria is positioning itself for a major boost in its oil and gas industry as the Federal Government, through the…
Tax swallows N1.13 trillion from Aradel, Seplat half-year profits
Aradel Holdings and Seplat Energy delivered exceptional financial performances in the first half of 2026, generating a combined pre-tax profit…
Dangote Refinery Expands African Crude Imports as Nigerian Supply Declines
Dangote Refinery is accelerating its shift toward sourcing crude oil from across Africa as supplies from Nigeria continue to decline,…
Dangote Refinery drops PMS to ₦1,165/Litre, diesel to ₦1,570/litre
Dangote Petroleum Refinery has announced another reduction in the ex-depot prices of Premium Motor Spirit (PMS), popularly known as petrol,…
Nigeria’s oil boom threatened by 50-year-old problem, says NURPC’s Eyesan
Nigeria’s renewed push to reclaim its position as one of Africa’s leading oil producers is facing an unexpected obstacle—not insecurity…
China Relaxes Fuel Export Restrictions as Global Energy Supply Crisis Intensifies
China has taken a significant step toward easing pressure on the global energy market by partially lifting the fuel export…
China Relaxes Fuel Export Restrictions as Global Energy Supply Crisis Intensifies
China has taken a significant step toward easing pressure on the global energy market by partially lifting the fuel export…
Dangote eyes $5bn IPO to finance refinery expansion
Africa’s richest businessman, Aliko Dangote, is preparing for what could become the continent’s largest stock market listing as Dangote Petroleum…
Oil Prices Slide Below $80 as Hopes for US-Iran Deal Boost Market Confidence
Global oil prices suffered a sharp decline on Tuesday, with Brent crude falling below the $80-per-barrel mark for the first…
Cheaper Latin American Crude Puts Nigeria’s European Oil Market at Risk
Nigeria’s long-standing position as one of Europe’s preferred crude oil suppliers is facing increasing pressure as cheaper crude from Brazil…
TotalEnergies Takes Nigeria to Court Over $554 Million Petroleum Tax Dispute
French energy giant TotalEnergies has taken fresh legal action against Nigeria’s tax authorities and the Nigerian National Petroleum Company (NNPC),…
Germany’s Energy Demand Drops as Soaring Fuel Prices Slash Oil Consumption
Germany’s energy demand declined by 1.9% during the first half of 2026, as soaring oil and gas prices forced consumers…
NNPC Profit Drops 35% in H1 2026 Despite Strong June Recovery as Revenue Climbs
Nigeria’s state-owned oil giant, NNPC Limited, posted a profit after tax of N2.28 trillion for the first half of 2026,…
Cheaper Latin American Oil Puts Nigeria’s European Crude Market at Risk
Nigeria’s long-standing dominance in Europe’s crude oil market is coming under increasing pressure as cheaper oil supplies from Brazil and…
Nigeria’s Global LNG Market Share Slips to 5% as NLNG CEO Warns of Steeper Decline
Nigeria’s position in the global liquefied natural gas (LNG) industry is facing growing pressure, with the country’s market share falling…
Petrol consumption drops by 52m litres amid higher prices
Nigeria’s petrol consumption recorded a slight decline in the first half of 2026 as persistently high pump prices continued to…
Saudi Oil Reroutes Hit Capacity and Security Limits
Saudi Arabia is confronting one of its biggest oil export challenges in recent years as escalating security threats across key…
Oil prices crash after Trump eases Iran tensions, cheaper petrol may follow
Oil prices recorded a sharp decline on Monday after U.S. President Donald Trump signaled a shift toward diplomacy with Iran…
Nigeria earns N24tn from crude exports in six months
Nigeria earned an estimated N24.02 trillion from crude oil exports between January and June 2026, reinforcing the country’s dependence on…
Brent crude slides $16 in eight trading days as Trump revives Iran peace talks
Global oil prices suffered a sharp decline after U.S. President Donald Trump announced renewed peace talks with Iran, easing fears…
NNPC Records Highest Profit in 10 Months as June Earnings Rise to ₦535 Billion
The Nigerian National Petroleum Company Limited (NNPC Ltd) has posted its strongest financial performance in nearly a year, reporting a…
How China’s Oil Strategy Is Keeping Global Crude Prices Under Control Amid Middle East Crisis
The global oil market has remained surprisingly resilient despite months of severe supply disruptions in the Middle East, and analysts…
Imported petrol now costs more than Dangote fuel – Report
The cost of importing Premium Motor Spirit (PMS), popularly known as petrol, has now surpassed the price of fuel supplied…
NNPC to Acquire Seplat’s 10% Joint Venture Stake in $281.6 Million Deal
The Nigerian National Petroleum Company Limited (NNPC) has reached an agreement to acquire a 10 percent stake in the NNPCL-SEPNU…