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…
Category: Energy
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…
Price War Deepens as Petrol Prices Crash by N100 Amid Dangote Refinery Push
Nigeria’s downstream oil sector has entered a fierce petrol price war, as filling stations slash pump prices by as much…
Dangote Launches ₦739/Litre Petrol Nationwide at MRS Stations
Dangote Petroleum Refinery has begun nationwide sales of Premium Motor Spirit (PMS) at a pump price of ₦739 per litre…
2025 Nigeria Budget Hit Hard as Oil Revenue Falls 62% Below Target
Nigeria’s 2025 federal budget has suffered a significant setback as oil and gas revenues fell 62.2% below the prorated target…
Senate Screens Tinubu’s Nominees as Nigeria Petroleum Regulatory Reforms Gain Momentum
Nigeria’s push for stronger oil and gas governance took a significant step forward on Thursday as the Senate commenced the…
Dangote Refinery Partnership Set to Reduce Petrol Prices, IPMAN Confirms
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged its members nationwide to prioritize purchasing Premium Motor Spirit (PMS)…
Global Oil Oversupply Leaves Nigerian Crude Unsold as Dangote Refinery Turns to Imports
Nigerian crude oil sellers are facing mounting pressure in the global market as oversupply continues to dampen demand, leaving millions…
FG Power Sector Debt to Hit N6.4 Trillion by 2025, Threatening National Electricity Supply
The Federal Government’s indebtedness to power generation companies (GENCOs) is projected to reach N6.4 trillion by the end of 2025,…
Nigeria’s Crude Oil Exports Reach N37.7 Trillion in First Nine Months of 2025
Nigeria’s crude oil exports surged to N37.7 trillion in the first nine months of 2025, according to the Q3 2025…
NNPCL Confident of Achieving 2.06 Million BPD Oil Production Target in 2026
The Nigerian National Petroleum Company Limited (NNPCL) has expressed optimism that its 2.06 million barrels per day (bpd) crude oil…
Tinubu Nominates New NUPRC, NMDPRA Heads After Resignations
According to Bayo Onanuga via his X (formerly Twitter) account, President Bola Ahmed Tinubu has asked the Senate to approve…
FG to Launch ₦1.23 Trillion Power Sector Bond to Clear GENCOs’ Debt and Restore Market Confidence
The Federal Government of Nigeria has concluded plans to launch a ₦1.23 trillion Power Sector Bond as part of a…
Fuel Prices Remain Above N800 in Lagos Despite Dangote Refinery Cuts
Fuel prices in Lagos and other parts of Nigeria have begun to show slight reductions following a significant cut in…
Dangote’s N739 Petrol Price Fails to Launch as Rift with NMDPRA Escalates
Consumers across Lagos and other states were left frustrated yesterday as the N739 per litre petrol price announced by Dangote…
Nigeria’s Crude Oil Exports Hit N37.7 Trillion in Nine Months, Driving FX Stability
Nigeria’s crude oil exports surged to N37.7 trillion in the first nine months of 2025, according to the latest Foreign…
Nigeria Spends N8.64 Trillion on Imported Boilers, Machinery, and Appliances in 2025
Nigeria has spent a staggering N8.64 trillion on imported boilers, machinery, and appliances in the first nine months of 2025,…