NUPRC Launches 90-Day Plan to Boost Nigeria’s Oil Output with Faster Approvals
Nigeria’s upstream oil sector is set for a major shake-up as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) unveils a…
Category: Energy
Heirs Energies Acquires 20% Stake in Seplat in $500 Million Deal
Heirs Energies Limited, the energy investment firm chaired by business mogul Tony Elumelu, has finalized a major acquisition in Nigeria’s…
Dangote Refinery Launches 24-Hour Petrol Loading to Strengthen Nigeria’s Fuel Supply
The Dangote Petroleum Refinery has officially launched 24-hour petrol loading operations, marking a significant milestone in Africa’s largest refinery. This…
Petrol Price Hike Looms in Nigeria as Global Crude Oil Crosses $66 per Barrel
Nigeria could be heading for another round of fuel price increases as global crude oil prices climbed above $66 per…
DAPPMAN Confirms 60% National Fuel Supply, Pledges Commitment to Nigeria’s Energy Security
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has confirmed that its members now supply approximately 60% of…
FG Enforces 0.5% Levy on Fuel Wholesalers: What Nigeria’s Downstream Petroleum Sector Needs to Know
The Federal Government of Nigeria has moved to tighten regulatory control over the downstream petroleum sector by enforcing a 0.5%…
Nigeria to Generate $3 Billion Annually from Carbon Market, Says President Tinubu
President Bola Tinubu has announced that Nigeria is set to mobilize between $2.5 billion and $3 billion annually through a…
Oil Prices Hit Seven-Week High as Fears Grow Over Iran Export Disruptions
Global oil prices settled at their highest levels in seven weeks on Monday as investors grew increasingly concerned that Iran’s…
Seplat Shares Soar 6.2% YTD in 2026 on Heirs Energies Acquisition and Strong Growth Outlook
Seplat Energy has started 2026 on a high note, with its shares gaining 6.2% year-to-date within the first trading week,…
Nigeria’s Forex Earnings Face Pressure Amid Global Energy Divide
Nigeria’s foreign exchange earnings are facing increasing pressure as the global energy landscape becomes sharply divided between fossil-fuel-dependent “petrostates” and…
Traders Target India and China to Restart Venezuelan Crude Exports
Global commodities giants Vitol and Trafigura have begun discussions with refiners in India and China to sell Venezuelan crude oil,…
Petrol Price War Escalates: Retailers Drop Prices Below Dangote’s N739/Litre Benchmark
The ongoing petrol price war in Nigeria has taken a sharper turn, with several retail outlets now selling Premium Motor…
Dangote Refinery Boosts Local Supply, Reduces Nigeria’s Reliance on Petrol Imports
Nigeria’s petrol market is witnessing a major shift as Dangote Refinery and Petrochemical now reportedly meet domestic fuel demand, reducing…
Nigeria’s Oil Regulators Renew Cooperation to Boost Investment and Industry Growth
Nigeria’s top oil regulators have renewed their commitment to strengthen collaboration, aiming to drive investment and efficiency in the country’s…
Retailers Call for Stronger Naira-for-Crude Policy in 2026 to Stabilize Fuel Prices
Petroleum products retailers are urging the Federal Government and industry regulators to strengthen the naira-for-crude policy in 2026, saying effective…
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…
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…