Oil Prices Slide Below $100 as Trump Pauses Strait of Hormuz Escort Plan Amid De-escalation Hopes
Crude oil prices extended their decline on Tuesday after U.S. President Donald Trump announced a temporary pause in the plan…
Category: Energy
Crude Oil Offtake Stalls in Nigeria as Pricing Gaps Disrupt Local Refinery Supply Chain
Nigeria’s domestic refining sector is facing a major supply challenge as over 40.2 million barrels of crude oil made available…
Nigeria Crude Supply Gap Widens as Refineries Receive Only 36–46% of Allocated Oil – NUPRC Report
Nigeria’s domestic crude oil supply chain is under renewed pressure after refineries received only 28.5 million barrels of crude oil…
NNPC-China Refinery Deal: Marketers Back Equity Partnership to Revive Port Harcourt, Warri Plants
Fuel marketers in Nigeria have expressed strong support for the Nigerian National Petroleum Company Limited’s (NNPC) new partnership with two…
NNPC Remits N2.89 Trillion to Federation Account in Q1 2026 as Oil Revenue Surges
The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a strong financial performance, remitting a total of N2.89 trillion…
California Gas Prices Surge Past $6 Per Gallon Amid Oil Supply Crunch
California motorists are facing a sharp spike in fuel costs as gas prices in the state have climbed to an…
NNPC Signs New China Deal to Revamp Warri and Port Harcourt Refineries in Major Technical Partnership Push
The Nigerian National Petroleum Company Limited (NNPC Ltd) has taken a fresh step toward reviving Nigeria’s long-troubled refineries, signing a…
Global Oil & Digital Shake-Up: UAE Exit from OPEC, Showmax Shutdown and Key Business Updates to Watch
This week’s global business landscape is shaping up with major developments across energy, media, and economic policy. From oil market…
Seplat Energy Targets Production Boost as Yoho Platform Restart Nears Completion
Seplat Energy Plc is preparing for a major production increase in 2026 as it moves closer to restarting its Yoho…
NERC Shifts Electricity Complaints to State Regulators in 15 States
Nigeria’s power sector is entering a new phase as the Nigerian Electricity Regulatory Commission (NERC) has asked electricity consumers in…
MTN Nigeria Faces N140bn Margin Threat as Diesel Hits N2,000/L, Accelerates Shift to Gas
MTN Nigeria is facing mounting financial pressure as soaring diesel prices, now hovering around N2,000 per litre, threaten to erase…
Global Asset Freeze Hits Nigerian Oil Trader Over $40m Debt Dispute
An English High Court has imposed a sweeping global asset freeze on Nigerian oil trader Abdulrahman Musa Bashar after he…
Nigeria Oil Revenue Windfall: BMI Projects N6.8 Trillion Gain as GDP Growth Hits 4.4% in 2026
Nigeria is expected to record a significant boost in oil earnings in 2026, with new projections suggesting an additional N6.8…
Big Oil Returns to Canada as Energy Crunch Reshapes Global Supply Chains
After nearly a decade of divestment, major oil companies are once again turning their attention to Canada’s oil and gas…
Nigeria to Gain FX Windfall as Crude Oil Surges Above $105 Amid Global Tensions
Nigeria is on track to record stronger foreign exchange inflows as global crude oil prices climb above $105 per barrel,…
OPEC+ Approves 188,000 bpd Oil Production Increase Amid UAE Exit and Market Uncertainty
OPEC+ has agreed to increase oil production by 188,000 barrels per day (bpd) starting in June, even as the United…
Jet Fuel Price Drops to N1,820 as Dangote Offers Direct Airline Supply Amid Aviation Cost Crisis
The Dangote Petroleum Refinery has announced it will begin direct supply of aviation fuel to airlines in Nigeria at N1,820…
Oil Price Surge Adds N5.13 Trillion Windfall to Nigeria’s Revenue, but Fuels Rising Cost of Living
Nigeria has recorded a major fiscal boost after a sharp rise in global crude oil prices pushed government oil earnings…
NNPC Completes OB3 River Niger Crossing, Unlocks 2bcf/d Gas Capacity
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the successful completion of the River Niger crossing on the…
Petrol Nears N1,400/Litre as Dangote Raises Price Amid Global Oil Shock and Middle East Crisis
Petrol prices are edging dangerously close to N1,400 per litre across Nigeria as global oil market tensions push costs higher…
Brent Crude Surges Past $126 Amid Trump’s Iran Strike Consideration, Raising Global Supply Fears
Global oil markets rallied sharply on Thursday as Brent crude surged past $126 per barrel, driven by rising geopolitical tensions…
Africa Must Unite to Unlock Global Solid Minerals Market — Dele Alake
Nigeria’s Minister of Solid Minerals Development, Dele Alake, has called for stronger regional cooperation among African countries to unlock the…
Brent Oil Surges Above $123 Amid Reports of Possible U.S. Military Action on Iran
Global oil markets rallied sharply on Thursday, with Brent crude rising above $123 per barrel following reports that the United…
Cooking Gas Prices in Nigeria Rise as 5kg Hits N7,655 Amid March 2026 Inflation Pressure
Cooking gas prices in Nigeria recorded another sharp increase in March 2026, placing additional pressure on households already struggling with…
Oil Supply Shock: Strait of Hormuz Closure Triggers Historic Crude Crisis and Global Economic Risk
The global oil market is facing what analysts are calling the most severe supply shock in history, after the prolonged…
NUPRC Board Resumes Duties, Pledges Oil Sector Reforms Amid Global Energy Uncertainty
The newly inaugurated board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially resumed duties, pledging to drive key…
Inefficient Refineries Should Be Phased Out to Boost Energy Efficiency – Dangote Refinery CEO
The Managing Director and Chief Executive Officer of Dangote Petroleum Refinery, David Bird, has called for the gradual shutdown of…
NNPC Hikes Oil Prices Amid US-Iran War as Global Crude Surges
Nigeria’s oil sector has seen a sharp shift as the Nigerian National Petroleum Company Limited (NNPC) increased the official selling…
European Stocks Slip as UAE OPEC Exit Clouds Global Oil Supply Outlook
European markets opened slightly lower on Wednesday, as investors reacted to a mix of corporate earnings and the unexpected decision…
Nigerian Crude Hits $113 as Iran–Hormuz Crisis Drives Global Oil Shock
Nigerian crude oil has surged to its highest levels in recent years, with benchmark grades trading above $113 per barrel…