Tax swallows N1.13 trillion from Aradel, Seplat half-year profits
Aradel Holdings and Seplat Energy delivered exceptional financial performances in the first half of 2026, generating a combined pre-tax profit…
Category: Energy
Dangote Refinery Expands African Crude Imports as Nigerian Supply Declines
Dangote Refinery is accelerating its shift toward sourcing crude oil from across Africa as supplies from Nigeria continue to decline,…
Dangote Refinery drops PMS to ₦1,165/Litre, diesel to ₦1,570/litre
Dangote Petroleum Refinery has announced another reduction in the ex-depot prices of Premium Motor Spirit (PMS), popularly known as petrol,…
Nigeria’s oil boom threatened by 50-year-old problem, says NURPC’s Eyesan
Nigeria’s renewed push to reclaim its position as one of Africa’s leading oil producers is facing an unexpected obstacle—not insecurity…
China Relaxes Fuel Export Restrictions as Global Energy Supply Crisis Intensifies
China has taken a significant step toward easing pressure on the global energy market by partially lifting the fuel export…
China Relaxes Fuel Export Restrictions as Global Energy Supply Crisis Intensifies
China has taken a significant step toward easing pressure on the global energy market by partially lifting the fuel export…
Dangote eyes $5bn IPO to finance refinery expansion
Africa’s richest businessman, Aliko Dangote, is preparing for what could become the continent’s largest stock market listing as Dangote Petroleum…
Oil Prices Slide Below $80 as Hopes for US-Iran Deal Boost Market Confidence
Global oil prices suffered a sharp decline on Tuesday, with Brent crude falling below the $80-per-barrel mark for the first…
Cheaper Latin American Crude Puts Nigeria’s European Oil Market at Risk
Nigeria’s long-standing position as one of Europe’s preferred crude oil suppliers is facing increasing pressure as cheaper crude from Brazil…
TotalEnergies Takes Nigeria to Court Over $554 Million Petroleum Tax Dispute
French energy giant TotalEnergies has taken fresh legal action against Nigeria’s tax authorities and the Nigerian National Petroleum Company (NNPC),…
Germany’s Energy Demand Drops as Soaring Fuel Prices Slash Oil Consumption
Germany’s energy demand declined by 1.9% during the first half of 2026, as soaring oil and gas prices forced consumers…
NNPC Profit Drops 35% in H1 2026 Despite Strong June Recovery as Revenue Climbs
Nigeria’s state-owned oil giant, NNPC Limited, posted a profit after tax of N2.28 trillion for the first half of 2026,…
Cheaper Latin American Oil Puts Nigeria’s European Crude Market at Risk
Nigeria’s long-standing dominance in Europe’s crude oil market is coming under increasing pressure as cheaper oil supplies from Brazil and…
Nigeria’s Global LNG Market Share Slips to 5% as NLNG CEO Warns of Steeper Decline
Nigeria’s position in the global liquefied natural gas (LNG) industry is facing growing pressure, with the country’s market share falling…
Petrol consumption drops by 52m litres amid higher prices
Nigeria’s petrol consumption recorded a slight decline in the first half of 2026 as persistently high pump prices continued to…
Saudi Oil Reroutes Hit Capacity and Security Limits
Saudi Arabia is confronting one of its biggest oil export challenges in recent years as escalating security threats across key…
Oil prices crash after Trump eases Iran tensions, cheaper petrol may follow
Oil prices recorded a sharp decline on Monday after U.S. President Donald Trump signaled a shift toward diplomacy with Iran…
Nigeria earns N24tn from crude exports in six months
Nigeria earned an estimated N24.02 trillion from crude oil exports between January and June 2026, reinforcing the country’s dependence on…
Brent crude slides $16 in eight trading days as Trump revives Iran peace talks
Global oil prices suffered a sharp decline after U.S. President Donald Trump announced renewed peace talks with Iran, easing fears…
NNPC Records Highest Profit in 10 Months as June Earnings Rise to ₦535 Billion
The Nigerian National Petroleum Company Limited (NNPC Ltd) has posted its strongest financial performance in nearly a year, reporting a…
How China’s Oil Strategy Is Keeping Global Crude Prices Under Control Amid Middle East Crisis
The global oil market has remained surprisingly resilient despite months of severe supply disruptions in the Middle East, and analysts…
Imported petrol now costs more than Dangote fuel – Report
The cost of importing Premium Motor Spirit (PMS), popularly known as petrol, has now surpassed the price of fuel supplied…
NNPC to Acquire Seplat’s 10% Joint Venture Stake in $281.6 Million Deal
The Nigerian National Petroleum Company Limited (NNPC) has reached an agreement to acquire a 10 percent stake in the NNPCL-SEPNU…
Oil Prices Set for Nearly 20% Monthly Jump Despite Market Pullback
Crude oil prices may have slipped over the past few days, but the global market is still on track for…
Nigeria can refine fuel now. It just can’t feed it
For years, Nigeria pursued an ambitious goal of refining more of its crude oil at home instead of exporting it…
Seplat Energy to sell 10% stake in joint venture to NNPC for $281m
Seplat Energy has announced a major milestone in Nigeria’s oil and gas sector after signing a $281.6 million agreement with…
Shell Reports $9.8 Billion in Adjusted Earnings as Energy Prices Surge
Shell has delivered an impressive financial performance for the second quarter of 2026, posting adjusted earnings of $9.84 billion, more…
Dangote refinery to consume 2.5% of globally traded crude
Nigeria’s industrial ambitions received a major boost as President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, revealed…
Oil Prices Surge Above $90 as Iran Tensions Spark Fresh Global Supply Fears
Global oil prices rallied above the $90-per-barrel mark on Wednesday as escalating military tensions in the Middle East reignited fears…
Partnerships Key To Nigeria’s Industrial Energy Growth
Strategic partnerships are becoming increasingly important in shaping Nigeria’s industrial future, and leading gas and power company Axxela believes collaboration…