Oil Prices Climb as US-Iran Talks Boost Market Sentiment Amid Supply Concerns
Crude oil prices edged higher on Thursday, with West Texas Intermediate (WTI) trading close to $92 per barrel and Brent…
Category: Energy
NNPCL Faces ₦210 Trillion Audit Query as Nigerian Senate Demands Full Accountability
The Nigerian Senate has intensified its oversight of the Nigerian National Petroleum Company Limited (NNPCL), demanding full accountability over an…
IEA Warns Europe Could Run Out of Jet Fuel in Six Weeks as Middle East Conflict Threatens Global Energy Supply
The International Energy Agency (IEA) has raised alarm that Europe may have as little as six weeks of jet fuel…
Oando JV Begins Gas Supply to 60MW Yenagoa Power Plant, Boosting Bayelsa Electricity Access
Oando Plc has announced that its joint venture with NNPC E&P Limited has officially begun gas delivery to a newly…
Dangote Refinery Exports 434 Million Litres of Petrol in March as Nigeria Becomes Net Fuel Exporter
Nigeria’s oil sector recorded a major turning point in March 2026 as the Dangote Petroleum Refinery exported about 434 million…
Nigeria Power Crisis Deepens as 9,536MW Installed Capacity Remains Idle Amid Grid Failures
Nigeria’s electricity crisis has deepened after new data from the Nigerian Electricity Regulatory Commission (NERC) revealed that 9,536 megawatts of…
N210 Trillion Audit: Senate Gives NNPCL April 29 Deadline to Explain Unaccounted Funds
The Nigerian Senate has issued a firm deadline to the Nigerian National Petroleum Company Limited (NNPCL), ordering its management to…
Nigerian Crude Oil Hits $113 Per Barrel as Supply Tensions and China Demand Boost Global Prices
Nigerian crude oil has surged sharply on the global market, with Brass River trading at around $113 per barrel, significantly…
Rising Oil Prices: FG Rules Out Fuel Subsidy Return Despite Inflation Pressure
The Federal Government has firmly ruled out any return of petrol subsidy in Nigeria, even as global oil prices continue…
Nigeria Inflation Set to Rise as Iran War Drives Fuel and Food Costs Higher
Nigeria’s inflation rate is projected to rise in March 2026, signaling an end to nearly a year of easing price…
Petrol Consumption Drops to 47.3 Million Litres Daily in March 2026, Says NMDPRA
Petrol consumption in Nigeria fell significantly in March 2026, dropping to an average of 47.3 million litres per day from…
Seplat Energy Share Price Crosses N10,000 on NGX, Becomes First Nigerian Stock to Hit Milestone
Seplat Energy Plc has made history on the Nigerian Exchange (NGX), becoming the first listed company to surpass the N10,000…
Dangote Refinery Helpful, Importation Still Necessary –PETROAN
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has described the Dangote Refinery as a major positive development…
Nigeria-Morocco $25bn Gas Pipeline Deal Set for Signing as Landmark Africa Energy Project Advances
Nigeria and Morocco are moving closer to sealing a major energy agreement as both countries prepare to sign a $25…
NNPC Records N15.4 Trillion Revenue Growth in 2025 as Profit Hits N5.76 Trillion Under Ojulari Leadership
The Nigerian National Petroleum Company Limited (NNPC Ltd) has recorded a major financial breakthrough in 2025, posting a year-on-year revenue…
Fuel Subsidy Would Have Cost Nigeria N52 Trillion in 2026 – Zacch Adedeji
The Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, has revealed that Nigeria would have spent as much…
Nigeria Urged to Maximise $11.3m AfDB Renewable Energy Fund Through Mini-Grids and Solar Expansion
Nigeria has been advised to take full advantage of the $11.3 million African Development Bank (AfDB) renewable energy financing by…
Nigeria Crude Oil Production Hits 1.84 Million Barrels Per Day as Output Recovery Strengthens
Nigeria’s crude oil production has recorded a significant rebound, reaching a peak of 1.84 million barrels per day (mbpd), according…
Power Subsidy Hits N418.79bn as Nigeria’s Electricity Sector Records Over N300bn in Losses – NERC
Nigeria’s electricity sector faced mounting financial pressure in the fourth quarter of 2025, as the Federal Government’s power subsidy rose…
FG Moves for Cheaper Funding as Global Tensions Push Inflation, Oil Prices Higher
The Federal Government has announced plans to pursue cheaper funding and stronger international financial support as escalating global tensions continue…
Africa Risks Delay in $113bn Energy and Port Projects as Gulf Investment Review Threatens Infrastructure Pipeline
Africa’s ambitious push to expand its infrastructure and energy capacity may be facing a new setback as Gulf nations reconsider…
Dangote Refinery Becomes Net Exporter as Nigeria Boosts Oil Exports in March
In a historic shift for Nigeria’s energy sector, the Dangote Petroleum Refinery & Petrochemicals recorded a major milestone in March…
Dangote Refinery IPO Set to Raise $5bn in Historic African Listing
Nigeria is on the brink of a landmark financial moment as Aliko Dangote moves forward with plans to list the…
Nigeria Fuel Prices, Inflation Rise as Oil Nears $100+ Amid Strait of Hormuz Crisis
Nigeria’s economy is once again under pressure as global crude oil prices edge toward the $100-per-barrel mark following escalating geopolitical…
Electricity Generation Rises to 4,300MW as FG Credits Gas Supply Boost and Sector Reforms
The Federal Government has announced an improvement in Nigeria’s electricity generation, which increased from 3,951 megawatts to 4,300 megawatts between…
NUPRC Unveils Digital Reforms to Boost Oil Production and Attract Investment in Nigeria
Nigeria’s upstream oil and gas sector is set for a major transformation as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)…
World Bank Fuel Import Recommendation Sparks Backlash in Nigeria as Expert Cites PIA Violation
An energy economist, Ken Ife, has strongly criticised the World Bank’s recommendation that Nigeria should deepen fuel imports and further…
Crude Oil Prices Jump 7% After U.S. Navy Strait of Hormuz Blockade Order Sparks Global Energy Shock
Global crude oil prices surged sharply on Monday, April 13, rising by more than 7% after the United States announced…
European Markets Fall as Middle East Tensions Spike, Travel Stocks Hit Hard
European markets began the week on a cautious note, slipping into negative territory as investors reacted to renewed geopolitical tensions…
Oil Shock Exposes Nigeria’s Import Trap as Local Tech Manufacturing Gains Urgency
Nigeria is once again feeling the ripple effects of global instability after crude oil prices surged above $100 per barrel…