Nigeria’s Oil and Gas Sector Records Mixed Performance in 2025 Amid Production Shortfalls
Nigeria’s oil and gas industry ended 2025 with a mixed performance, showing gains in upstream activity and gas output but…
Category: Energy
Oil Prices Rebound as Venezuela Developments Ease Market Jitters
Global oil prices climbed on Thursday, snapping a two-day losing streak as investors shifted focus to unfolding developments in Venezuela…
CBN Projects Petrol Price at N950/Litre in 2026 Amid FX Stability and Refining Gains
The Central Bank of Nigeria (CBN) has projected that petrol pump prices will hover around N950 per litre in 2026,…
Dangote Refinery–Marketers Fuel Deal Collapses as Pricing Dispute Triggers Import Surge
The fuel supply agreement between the Dangote Petroleum Refinery and 20 major petroleum marketers has collapsed barely a month after…
GenCos’ Power Invoices Drop by ₦80.56bn in Q3 2025 as Weak Demand Hits Electricity Market
Nigeria’s power generation companies (GenCos) recorded a sharp drop of ₦80.56bn in invoices in the third quarter of 2025, driven…
OPEC Holds Oil Output Steady Despite Geopolitical Crises and Market Turmoil
The Organisation of Petroleum Exporting Countries and its allies, collectively known as OPEC+, has decided to keep oil production levels…
Oil Prices Fall as Trump Moves to Secure $2bn Venezuelan Crude Supply
Global oil prices slipped on Wednesday as markets reacted to signals of a potential supply surge after US President Donald…
Nigeria Electricity Companies’ Revenues Surge 22% Amid Persistent Blackouts
Nigeria’s electricity distribution companies recorded a surprising 22% jump in revenues, collecting a total of N570.25 billion ($370 million) in…
Dangote Refinery Denies Shutdown Rumors, Confirms 50 Million Litres Daily Petrol Output
The Dangote Petroleum Refinery has refuted recent reports suggesting it is shutting down for maintenance, assuring Nigerians that petrol production…
Nigeria Electricity Subsidy Nears N2tn as Power Sector Struggles Persist
Nigeria’s electricity subsidy reached nearly N2 trillion in the 12 months between October 2024 and September 2025, according to the…
M&P Exits Seplat Energy as Heirs Group Acquires 20% Stake
Seplat Energy Plc has confirmed the complete exit of its founding shareholder, Etablissements Maurel & Prom S.A. (M&P), following the…
Venezuela Oil Prices Fall to $61 Amid Political Instability
The global oil market is feeling the ripple effects of Venezuela’s ongoing political and economic instability, with crude oil prices…
Tinubu Appoints New Boards for Nigeria’s Oil Regulators, Magnus Abe to Chair NUPRC
President Bola Tinubu has taken a significant step to strengthen Nigeria’s oil and gas governance by nominating former Senator Magnus…
NNPC Cuts Petrol Price to ₦815 per Litre in Abuja Amid Intensifying Fuel Price War
The Nigerian National Petroleum Company Limited (NNPC Ltd) has reduced the pump price of Premium Motor Spirit (petrol) at its…
Petrol Could Rise to ₦1,400 Per Litre Without Local Refining – Dangote Refinery Warns
Dangote Petroleum Refinery has warned that petrol prices in Nigeria could surge to as high as ₦1,400 per litre if…
Africa Can Own and Manage Its Strategic Resources – Tony Elumelu on $500M Seplat Acquisition
Tony Elumelu, Chairman of Heirs Energies, has reiterated Africa’s ability to own, develop, and responsibly manage its strategic resources. Speaking…
Dangote Refinery’s Free Petrol Delivery Set to Drive Down Pump Prices Nationwide
Nigerian motorists may soon breathe a sigh of relief as Dangote Refinery finalizes plans to distribute petrol for free to…
OPEC+ Pauses Oil Output Increase Amid Venezuela Uncertainty
The Organisation of Petroleum Exporting Countries and its allies, known as OPEC+, have decided to pause planned oil supply increases…
NNPC Debt Crisis: Subsidiary Obligations Surge to ₦30.3 Trillion Amid Financial Pressures
The Nigerian National Petroleum Company Limited (NNPC) is grappling with significant financial strain as debts owed by its subsidiaries and…
Dangote Refinery Pumps 43 Million Litres, Denies Petrol Shutdown Amid Price Hike Fears
Officials of the Dangote Petroleum Refinery have dismissed claims that the facility shut down its petrol processing unit, confirming that…
NNPC Reports N502bn Profit, Cuts Petrol Below N800 Amid Market Price War
The Nigerian National Petroleum Company Limited (NNPC) posted a profit after tax of N502 billion in November 2025, maintaining its…
Average Petrol Price Drops to N1,061 in November 2025 – NBS Report
The average retail price of Premium Motor Spirit (PMS), commonly known as petrol, fell to N1,061.35 in November 2025, according…
Nigeria’s Oil Revenue Falls Short by N16.2tn Despite Higher Production in 2025
Nigeria’s oil revenue fell sharply short of government projections in the first half of 2025, recording a N16.2tn deficit despite…
NNPC Earns N890.8bn in Management Fees and Frontier Funds in 11 Months
The Nigerian National Petroleum Company Limited (NNPC) has earned a total of N890.8 billion from management fees and the Frontier…
Oil Prices Rise After US Intercepts Venezuelan Crude Tanker
Oil prices climbed sharply in early trade yesterday following the US interception of a crude oil tanker near Venezuela in…
NNPC’s Strategic Reinvention Under Bayo Ojulari Drives Sustainable Growth
Under the leadership of Group Chief Executive Officer Bashir Bayo Ojulari, NNPC Limited is redefining how a national oil corporation…
Dangote Petroleum Launches Hotline to Report Fuel Stations Selling PMS Above N739
Dangote Petroleum Refinery has unveiled a nationwide hotline to empower Nigerians to report filling stations selling Premium Motor Spirit (PMS)…
EIA Revises OPEC Oil Capacity: Spare Production Higher Than Expected
The U.S. Energy Information Administration (EIA) has quietly updated its outlook on global oil production, suggesting that OPEC may be…
Dangote-NMDPRA Feud: PENGASSAN Calls for Strong Institutions to Protect Nigeria’s Oil Sector
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called for stronger institutions in Nigeria’s oil and…
Indigenous Operators Drive Nigeria’s Energy Future, Marks 10 Years of Impact – IPPG
The Independent Petroleum Producers Group (IPPG) has marked a decade of resilience, collaboration, and transformative impact in Nigeria’s oil and…