Oil Prices Drop as Middle East Tensions Ease on Ceasefire Hopes and Supply Shifts
Global oil prices slipped sharply on Thursday as easing tensions in the Middle East sparked renewed optimism among investors. The…
Category: Energy
Nigeria Considers Debt Refinancing as Oil Prices Surge Amid US Tariff Threats
Nigeria is weighing a major financial reset as it considers refinancing parts of its costly debt portfolio and raising fresh…
Dangote Refinery Fuel Price Exceeds Import Landing Cost as Market Data Sparks Debate in Nigeria
Recent industry data has sparked fresh discussions in Nigeria’s downstream oil sector, as figures show that the gantry prices from…
Dangote Refinery Targets Global Jet Fuel Dominance with 700,000 BPD Expansion Plan
Dangote Refinery is setting its sights on becoming a dominant force in the global jet fuel market, with plans to…
Dangote Refinery and the refining of sovereignty
In the heart of Lekki, Lagos, the Dangote Refinery is doing more than processing crude oil—it is quietly reshaping what…
World Bank Expands West Africa Power Grid, Boosting Electricity Access for Millions
The World Bank has reported major progress in its regional electricity initiative aimed at improving power supply across West Africa.…
Meren Energy Nigeria Investment Boost as NUPRC Confirms 2026 Licensing Round Timeline
Meren Energy has announced plans to deepen its investment footprint in Nigeria’s oil and gas sector, signaling renewed confidence in…
Tinubu Approves 2026 Oil Block Licensing Round as Nigeria Targets Fresh Upstream Investment Surge
Nigeria is set for a new wave of oil sector activity as President Bola Tinubu has approved the 2026 oil…
NOG Energy Forum 2026 to Tackle Gas Monetisation and Decarbonisation as Global Energy Pressures Mount
The 2026 edition of the NOG Energy Week is set to become a major global meeting point for energy experts…
Dangote alleges crude supply sabotage by govt, NNPC objects
The battle between Africa’s richest man’s refinery and Nigeria’s oil authorities has escalated, as the Dangote Petroleum Refinery and Petrochemicals…
DisCos Generate N600bn in Q1 Despite Persistent Power Outages Across Nigeria
Nigeria’s Electricity Distribution Companies (DisCos) generated nearly N600 billion in revenue during the first quarter of 2026, despite ongoing power…
Petrol Price Surges 643% in Nigeria as Fuel Crisis Deepens Amid Global Oil Shocks
Nigeria’s fuel market has witnessed a dramatic and painful transformation as the price of Premium Motor Spirit (petrol) skyrocketed by…
Oil Workers Shut Down NUPRC Nationwide Over Foreign Training Dispute
Operations at the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) were brought to a standstill on Monday after oil-sector workers under…
Oil Prices Surge as US–Iran Diplomacy Collapses Over Middle East Tensions
Global oil prices surged on Monday after diplomatic efforts between the United States and Iran showed signs of collapse. The…
Nigeria’s Gas Reserves Set to Power Global AI Revolution, Boost Digital Infrastructure
As artificial intelligence (AI) continues to reshape industries worldwide, the race to secure reliable energy sources has become a critical…
Nigeria’s Crude Oil Sector Grows 16.4% Despite Falling Production — Signs of a Quiet Recovery Emerging
Nigeria’s crude petroleum sector has posted a surprising 16.37% year-on-year growth in the first quarter of 2026, signaling a rebound…
NNPC Profit Soars to N481bn as Revenue Hits N4.97tn in April 2026 Amid Oil Output Recovery
The Nigerian National Petroleum Company Limited (NNPC) has reported a strong financial performance for April 2026, posting a profit after…
European Stocks Slip as Defense Sector Surges on Ukraine’s $105B EU Loan Boost
European shares ended lower on Thursday as investors reacted cautiously to rising geopolitical tensions and mixed economic signals from global…
Nigeria Spends £1.1bn on UK Refined Oil as Fuel Import Dependence Persists in 2025
Nigeria’s dependence on imported fuel remains a major talking point in its energy sector, as new data shows the country…
Dangote Refinery Becomes World’s Largest Jet Fuel Exporter Amid Global Supply Disruptions
Nigeria’s Dangote Petroleum Refinery has achieved a major milestone, emerging as the world’s largest exporter of jet fuel in April…
FG, World Bank Cancel $717.7 Million Power Sector Loan as Tariff Deficits Worsen
The Federal Government and the World Bank have agreed to cancel approximately $717.7 million in undisbursed funding under the Power…
Alaoji Power Plant Restored: NDPHC Revives 450MW Facility Amid Nigeria Electricity Recovery Push
Nigeria’s power sector received a major boost as the Niger Delta Power Holding Company (NDPHC) announced the restoration of the…
Oil Prices Rise as US Strikes in Iran Stall Peace Deal Hopes, Global Stocks Turn Mixed
Global oil prices climbed on Tuesday while stock markets showed mixed performance, as renewed U.S. military strikes in southern Iran…
UK Exempts Nigeria from Russian Fuel Sanctions Tightening Amid Global Energy Shift
The United Kingdom has exempted Nigeria from stricter compliance checks under its updated sanctions regime targeting fuel products refined from…
Nigeria’s Refinery Struggles Deepen as Fuel Import Bill Hits ₦46.17 Trillion Amid Calls for Local Production Reform
Nigeria’s dependence on imported fuel continues to spark debate as industry experts warn that local refineries are still struggling with…
Nigeria, Turkey Seal Mining Partnership to Boost Investment and Solid Minerals Development
Nigeria has taken another step toward attracting foreign investment into its mining industry after signing a landmark memorandum of understanding…
Dangote faces price war as NNPC backs fuel imports
Nigeria’s downstream petroleum sector is heading for another major showdown as the Nigerian National Petroleum Company Limited (NNPC) and fuel…
FG Cancels $717.7 Million World Bank Power Loan as Nigeria’s Electricity Crisis Deepens
Nigeria’s efforts to revive its struggling electricity sector suffered a major setback after the Federal Government cancelled $717.7 million in…
Nigeria’s Oil Sector Contributes 3.92% to GDP in Q1 2026 Despite Improved Growth Performance
Nigeria’s oil sector accounted for 3.92% of the country’s real Gross Domestic Product (GDP) in the first quarter of 2026,…
Oil Prices May Crash as Iran–US Peace Talks Signal Possible Reopening of Strait of Hormuz
Global oil markets may be heading for a major shake-up as renewed Iran–US peace talks raise hopes of reopening the…