Nigerians Cut Petrol Use by 22% as Pump Prices Nearly Doubled in H1—Marketers
The sharp rise in petrol prices across Nigeria has significantly changed consumer spending habits, with millions of Nigerians cutting back…
Category: Energy
Oil Prices Surge on Fresh Middle East Strikes and API Crude Draw
Oil prices staged a strong comeback on Wednesday, reversing much of the previous day’s losses as fresh military tensions in…
Oil Falls Below $84 on US-Iran Peace Hopes
Global oil prices recorded a sharp decline on Tuesday after renewed diplomatic efforts between the United States and Iran raised…
Five vessels to deliver 154m litres of imported petrol
Nigeria’s fuel supply is set for another major boost as five vessels carrying approximately 154.2 million litres of imported Premium…
Africa’s Oil Investment Shifts as Nigeria, Egypt, Angola, Algeria and Libya Still Dominate — IEA Report
Africa’s upstream oil and gas sector remains heavily dependent on five major producers—Nigeria, Algeria, Angola, Egypt, and Libya—even as investment…
Oil price falls to $90/barrel as US, Iran pause attacks
Oil prices recorded a sharp decline on Monday after the United States and Iran reportedly agreed to suspend military attacks,…
Nigeria Secures $4.5 Billion in Fresh Energy Investments
Nigeria has attracted more than $4.5 billion in fresh energy investment commitments, marking a major boost for the country’s oil…
Nigeria LNG Train-7 Boosts Gas Export Prosperity Amid Global Demand
As global demand for liquefied natural gas (LNG) continues to surge, Nigeria is positioning itself to take advantage of the…
Brent Crude Tumbles 5% as US-Iran Truce Sparks Hope for Global Oil Supply Recovery
Global oil markets opened the week on a positive note for consumers as Brent crude fell by more than 5%,…
China’s Crude Oil Imports Surge
China’s appetite for crude oil appears to be making a strong comeback, with fresh data indicating that the world’s largest…
Dangote blames importers for petrol sales policy reversal
The Dangote Petroleum Refinery has revealed that its decision to resume the sale of Premium Motor Spirit (PMS), popularly known…
Petrol Hits N1,400/Litre as Transport Fares Soar Across Nigeria Amid Global Oil Price Surge
Transport costs are climbing once again across several parts of Nigeria as the price of petrol rises to as high…
Oil Price Hits $100 as Middle East Conflict Escalates, Raising Fears of Global Energy Crisis
Oil prices have surged to $100 per barrel for the first time since May, driven by growing fears that the…
Oil block bidding: Inside Nigeria’s seven-hour transparency test
Nigeria’s push to restore confidence in its upstream oil sector took a major step forward as the Nigerian Upstream Petroleum…
Dangote refinery secures record $2.5bn equity funding
Dangote Petroleum Refinery and Petrochemicals FZE has secured a record $2.5 billion in fresh equity funding, marking the largest publicly…
Dangote Refinery Raises $2.5 Billion in Africa’s Largest Private Equity Placement
Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has achieved a major financial milestone after successfully raising approximately $2.5 billion through…
Oil Giants Return to Nigeria’s Deepwater Fields with Billion-Dollar Investments
Nigeria’s offshore oil industry is witnessing a major revival as international oil companies (IOCs) shift their attention from troubled onshore…
Crude oil nears $100 as renewed Middle East conflict rattles global markets
Global oil markets came under renewed pressure on Thursday as crude oil prices surged close to the $100-per-barrel mark following…
Global Refiners Are Cutting Out Oil Traders To Buy Venezuelan Crude Directly
Global oil markets are witnessing a major shift as leading refiners increasingly bypass traditional commodity traders to purchase Venezuelan crude…
FG Launches N729bn Power Sector Bond to Clear Legacy Debts, Boost Electricity Investment
The Federal Government has launched a N729 billion power sector bond as part of the second phase of its Presidential…
Oil price hits $95 a barrel — highest in six weeks
Global oil prices climbed sharply on Wednesday, with Brent crude reaching $95.11 per barrel, its highest level in six weeks,…
Dangote Raises Petrol Ex-Depot Price to N1,215 as Naira Sales Resume
Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS), commonly known as petrol, in naira after a…
China’s Oil Buying Strategy Could Be the Biggest Driver of Global Crude Prices in 2026
China’s next move in the oil market is rapidly becoming one of the most closely watched factors shaping global energy…
FG Launches N729bn Power Sector Bond to Clear GenCo Debts and Boost Electricity Reforms
The Federal Government has unveiled a N729 billion Series 2 Power Sector Bond aimed at settling outstanding debts owed to…
FG returns 13 oil blocks to licensing basket
The Federal Government has announced that 13 of the 50 oil and gas blocks offered under the 2025 Licensing Round…
Nigeria’s Petrol Imports Surge 207% as Local Supply Drops Despite Dangote Refinery Output
Nigeria’s petrol imports recorded a dramatic increase of 207 percent in June, highlighting the country’s continued reliance on imported fuel…
FG to Issue N729bn Bond to Clear GenCos’ Debt, Boost Power Sector Stability
The Federal Government has announced plans to issue a second bond worth approximately N729 billion to settle verified legacy debts…
NNPC Defends Naira-for-Crude Deal as Dangote Refinery Raises Alarm Over Supply Shortfall
A fresh dispute has emerged between the Nigerian National Petroleum Company Limited (NNPC) and the Dangote Petroleum Refinery over the…
143 Companies Compete for 50 Oil Blocks as Nigeria Enters Crucial Licensing Round
Nigeria’s quest to attract fresh investment into its oil and gas sector reaches a critical stage today as 143 companies…
Dangote’s Dollar Fuel Sales Spark Fresh Fears Over Petrol Prices and Naira Stability
Nigeria’s downstream petroleum sector has been thrown into fresh uncertainty following Dangote Refinery’s decision to begin selling refined petroleum products…