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Energy
MTN Nigeria Faces N140bn Margin Threat as Diesel Hits N2,000/L, Accelerates Shift…
MTN Nigeria is facing mounting financial pressure as soaring diesel prices, now hovering around N2,000 per…
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…
Nigeria Oil Revenue Windfall: BMI Projects N6.8 Trillion Gain as GDP Growth Hits…
Nigeria is expected to record a significant boost in oil earnings in 2026, with new projections suggesting an…
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…
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…
OPEC+ Approves 188,000 bpd Oil Production Increase Amid UAE Exit and Market…
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…
The Dangote Petroleum Refinery has announced it will begin direct supply of aviation fuel to airlines in Nigeria at…
Oil Price Surge Adds N5.13 Trillion Windfall to Nigeria’s Revenue, but Fuels…
Nigeria has recorded a major fiscal boost after a sharp rise in global crude oil prices pushed government…
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…
Petrol Nears N1,400/Litre as Dangote Raises Price Amid Global Oil Shock and Middle…
Petrol prices are edging dangerously close to N1,400 per litre across Nigeria as global oil market tensions…
Brent Crude Surges Past $126 Amid Trump’s Iran Strike Consideration, Raising…
Global oil markets rallied sharply on Thursday as Brent crude surged past $126 per barrel, driven by rising…
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…
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…
Cooking Gas Prices in Nigeria Rise as 5kg Hits N7,655 Amid March 2026 Inflation…
Cooking gas prices in Nigeria recorded another sharp increase in March 2026, placing additional pressure on…
Oil Supply Shock: Strait of Hormuz Closure Triggers Historic Crude Crisis and…
The global oil market is facing what analysts are calling the most severe supply shock in history, after the…
NUPRC Board Resumes Duties, Pledges Oil Sector Reforms Amid Global Energy…
The newly inaugurated board of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially resumed…
Inefficient Refineries Should Be Phased Out to Boost Energy Efficiency – Dangote…
The Managing Director and Chief Executive Officer of Dangote Petroleum Refinery, David Bird, has called for the…
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)…
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…
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…
Dangote Refinery Says Petrol, Diesel Prices Are Being Subsidised Amid Rising Crude…
A senior official of the Dangote Group has disclosed that the Dangote Petroleum Refinery is currently subsidising…
Nigeria Crude Oil Production Hits Five-Year High at 1.71 Million BPD — NNPC…
Nigeria’s crude oil production has climbed to 1.71 million barrels per day between April 2025 and April 2026,…
Dangote Refinery Expansion to Create 95,000 Jobs as Capacity Hits 1.4 Million…
Aliko Dangote, President of the Dangote Group, has announced that the ongoing expansion of the Dangote…
Global Gas Pricing Boosts Nigeria LNG Expansion Amid Underinvestment Challenges
Global gas pricing trends are creating new opportunities for gas-producing nations, with Nigeria emerging…
Europe Emerges as Key Buyer of U.S. Strategic Petroleum Reserve Oil Amid Global…
Europe has become a major destination for oil released from the U.S. Strategic Petroleum Reserve (SPR), as global…
NNPC Denies Selling Refinery Scrap, Warns Public Against Fraudulent Claims
The Nigerian National Petroleum Company Limited (NNPC) has dismissed reports circulating online and in some circles…
NUPRC Urges Local Refiners to Acquire Oil Blocks to Strengthen Crude Supply Chain
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has encouraged members of the Crude Oil Refinery…
Nigeria’s Crude Oil Prices Surge Above $113 as Iran Crisis Disrupts Global Supply
Nigeria’s crude oil grades have rallied sharply as tensions in the Middle East continue to disrupt global energy…
Dangote Targets East Africa With 650,000bpd Refinery Expansion Plan
Africa’s richest man, Aliko Dangote, has announced plans to construct a new 650,000 barrels-per-day refinery in…
NUPRC Appeals Court Ruling Over Dawes Island: Nigeria Moves to Protect Oil…
Nigeria’s upstream oil regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has taken…