Nigeria’s downstream petroleum logistics chain recorded renewed vessel activity mid-February as multiple tankers carrying Automotive Gas Oil (AGO), and LPG (butane) positioned at Lagos and Port Harcourt depots for discharge. The coordinated movements across Apapa, Lekki and Port Harcourt corridors indicate steady marine-to-depot replenishment, with…
Petrol prices at Lagos depots climbed sharply on Thursday, with Dangote-linked PMS now trading at ₦800 per litre, up from ₦775 recorded the previous day, amid continued suspension of gantry sales and tightening supply across key distribution hubs. However, market checks indicate that the latest…
Global oil markets extended gains on Thursday, with Brent crude trading above $71 per barrel, intensifying concerns that domestic fuel prices could soon rise. As of 16 minutes into the latest session, Brent crude stood at $71.02, up $0.67 (+0.95%), while WTI crude traded at…
President Bola Ahmed Tinubu has signed an Executive Order mandating the direct remittance of oil and gas revenues to the Federation Account, in what may become one of the most consequential fiscal reforms since the Petroleum Industry Act (PIA) took effect. The directive aims to…
Crude oil prices climbed nearly 3 percent after peace talks between Russia and Ukraine ended without progress, reviving concerns that…
The naira may be heading for a major rebound in 2026 but only if Nigeria gets serious about cutting imports.…
Nigeria’s oil map may be expanding beyond the traditional Niger Delta as the Eba oil prospects gather momentum. Located in…
Crude oil prices edged higher on Wednesday as traders reassessed expectations of a swift nuclear agreement between the United States…
Nigeria lost an estimated N1.76 trillion in potential crude oil revenue between January 2025 and January 2026 after repeatedly missing…
Nigeria has taken a decisive step to confront crude oil theft as the Nigerian Upstream Petroleum Regulatory Commission unveiled its…
Oil prices fell on Tuesday after Iran and the United States concluded a second round of nuclear talks without announcing…
For months, Nigerians watched cooking gas prices climb relentlessly, draining household budgets and forcing many families back to firewood, charcoal…
INTERNATIONAL MARKET
Global oil markets extended gains on Thursday, with Brent crude trading above $71 per barrel, intensifying concerns that domestic fuel prices could soon rise. As of…
Crude oil prices climbed nearly 3 percent after peace talks between Russia and Ukraine ended without progress, reviving concerns that sanctions on Russian energy exports could…
TRENDING
As Nigeria accelerates LPG adoption and deepens its downstream gas infrastructure, cylinder…
Africa’s downstream petroleum market is undergoing significant evolution. Pricing volatility, tighter liquidity,…
Nigeria’s petrol market long depended almost entirely on imports, leaving prices exposed…
