Petrol Prices Could Hit ₦1,000/Litre as Dangote Refines Strategy Amid Global Oil Volatility
The price of Premium Motor Spirit (PMS), commonly known as petrol, may soon reach between ₦980 and over ₦1,000 per…
Category: Energy
European Markets Slide as U.S.-Iran Conflict Escalates, Oil Prices Surge
European markets are set to open sharply lower on Tuesday as rising geopolitical tensions in the Middle East rattle investor…
Crude-Backed Loans Tie Up N8.36tn of Nigeria’s 2025 Oil Revenue
Nigeria’s crude oil production in 2025 saw nearly 15% of output effectively pre-committed to servicing crude-backed loan facilities, amounting to…
Dangote Refinery Appoints Stanbic IBTC, Vetiva, and First Capital for Record-Breaking NGX Listing
The Dangote Group has officially appointed Stanbic IBTC Capital, Vetiva Capital Management, and First Capital as lead issuing houses for…
Oil Prices Surge Toward $80 Amid Middle East Tensions – Global Markets on Edge
Oil prices surged sharply on Monday as escalating military tensions between the United States, Israel, and Iran sparked concerns of…
OPEC+ Raises Oil Production Amid Middle East Tensions, Markets Watch Strait of Hormuz
Key members of OPEC+ have announced a higher-than-expected increase in oil production quotas, raising the stakes amid growing Middle East…
Dangote Port Sparks Nigeria’s Revival as a Global Fuel Exporter
Nigeria’s long-standing paradox of being Africa’s largest crude producer yet a major fuel importer is quietly shifting off the coast…
Dangote Refinery to Supply 65 Million Litres of Petrol Daily, Boosting Nigeria’s Fuel Self-Sufficiency
The Dangote Petroleum Refinery has entered a landmark offtake agreement with 12 major and independent oil marketers to distribute between…
TotalEnergies Launches 5MW Solar Plant at OML 58 to Boost Nigeria’s Clean Energy Drive
TotalEnergies Marketing Nigeria Plc has revealed plans to inaugurate a five-megawatt (5MW) solar power plant at OML 58, aimed at…
Nigerian Crude Surges Past $70 as Geopolitical Tensions Boost Oil Prices
Nigerian crude oil has climbed above $70 per barrel, exceeding the Federal Government’s 2026 budget benchmark of $64.85. Latest market…
West African Regulators Must Harmonise Refinery Rules to Boost Energy Security
West African energy regulators face growing pressure to harmonise refinery standards and investment frameworks as the region prepares for a…
Dangote Refinery Achieves Fuel Self-Sufficiency, Set to Supply 65 Million Litres of Petrol Daily
Nigeria’s energy landscape is entering a new era as Dangote Petroleum Refinery & Petrochemicals announces it will supply between 60…
New crude grade to boost Nigeria’s output coming in March
Nigeria is set to expand its crude oil portfolio with the launch of a new light, sweet grade called Cawthorne,…
Dangote Refinery Signs 65 Million Litres Daily Petrol Distribution Deal with 12 Marketers
Nigeria’s fuel supply landscape is set for a major shift as the Dangote Petroleum Refinery has signed a landmark offtake…
NNPC to Export Cawthorne Crude in March as Nigeria Targets Higher Oil Output
Nigeria is set to commence exports of a new light, sweet crude grade known as Cawthorne in March, marking another…
Tinubu Defends Executive Order on Oil Revenue Amid Legal Controversy
President Bola Tinubu has defended his controversial Executive Order (EO9), which halts revenue deductions previously made by the Nigerian National…
NNPC Faces Liquidity Risks After Tinubu’s Oil Revenue Executive Order
Analysts have raised alarms over the potential liquidity crunch for the Nigerian National Petroleum Company Limited (NNPCL) following President Bola…
Goldman Sachs Raises Brent Oil Price Outlook to $60 in Q4 2026 Amid Shifting Market Fundamentals
Global investment banking giant Goldman Sachs has revised its oil price outlook upward, projecting that Brent crude will average $60…
Dangote Refinery Shares to Open to Nigerians in Five Months: Retail Investors to Benefit
Chairman of the Dangote Group, Aliko Dangote, has confirmed that ordinary Nigerians will be able to purchase shares in the…
Tinubu Approves N2.8tn for GenCos, Rejects N6tn Electricity Subsidy Claim
President Bola Tinubu has approved N2.8 trillion as the Federal Government’s verified debt to Nigeria’s power generation companies (GenCos), sharply…
PENGASSAN Urges FG to Sell 51% Stake in NNPCL Refineries to Core Investors
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has renewed its long-standing call for the Federal Government…
Tinubu’s Executive Order to Boost FG, State, and LG Revenues by N15tn: Direct Oil and Gas Remittances
President Bola Tinubu’s latest Executive Order is set to transform Nigeria’s oil and gas revenue system, with federal, state, and…
CNG Stations Rollout Falls Short of 2025 Target Despite $2 Billion Investment
Despite securing over $2 billion in private sector funding since 2023, Nigeria’s Compressed Natural Gas (CNG) infrastructure rollout has fallen…
PENGASSAN Rejects Tinubu’s Executive Order on Oil Revenues, Warns of Investor Fallout
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised serious objections to President Bola Tinubu’s recent…
Net Zero in Oil & Gas: Industry Leaders Outline Practical Strategies at DECARBON 2026
Oil and gas industry leaders have emphasized that achieving net zero in oil and gas operations requires more than ambition…
Dawes Island Field Success Signals Growing Confidence in Nigerian Indigenous Oil Firms
Petralon Energy has received high praise from Shell Western Supply and Trading for successfully developing the Dawes Island Field, a…
CNG Stations Rollout Falls Short of 2025 Target Despite $2B Investment in Nigeria
Despite securing more than $2 billion in private sector investments over the past two years, Nigeria’s ambitious Compressed Natural Gas…
Unpaid Electricity Bills Hit N6 Trillion as Nigeria’s Power Sector Faces Liquidity Crisis
Nigeria’s power sector is facing a deepening financial crisis as electricity generation companies, under the Association of Power Generation Companies…
Nigeria’s Crude Oil Production Hits 1.64mbpd in 2025 Amid Rising Local Investment
Nigeria’s crude oil production surged to 1.64 million barrels per day (mbpd) in 2025, marking a 5.8% increase from 1.55…
NNPC Gas Master Plan 2026: Nigeria Set to Boost Gas Supply by 1.8 Bcf/d
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced ambitious plans to increase the country’s gas supply by an…