The Nigerian National Petroleum Company Limited reported total revenue of N60.5 trillion for the 2025 financial year, alongside a profit after tax of N5.76 trillion, according to its latest monthly performance report published on Thursday. The national oil company also disclosed that it remitted N14.706…
January 2026 data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicate that modular refineries account for a small share of Nigeria’s total fuel supply, despite ongoing policy support and incremental capacity additions. The regulator’s latest factsheet shows that while domestic refining output has improved…
Nigeria’s Premium Motor Spirit (PMS) sufficiency rose to 33 days in January 2026, up from 29.2 days in December 2025, reflecting a 13 per cent month-on-month improvement in national fuel reserves. However, the real story is not just the increase in total days. It is…
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has dismissed media claims that it has recommended the transfer of disputed oil and gas wells to certain states, stressing that no final decision has been reached. In a statement released on Sunday, the Commission’s Chairman, Mohammed…
Cross River State may soon return to Nigeria’s list of oil-producing states following the submission of a federal verification report…
Petroleum market analysts say the recent slowdown in petrol imports into Nigeria reflects softer offshore prices at the Lomé trading…
Nigeria’s oil tax revenue rose to ₦6.8 trillion in 2025, reflecting stronger compliance, improved upstream profitability, and tighter enforcement across…
Nigerians consumed an average of 60.2 million litres of Premium Motor Spirit (PMS) per day in January 2026, underscoring the…
Dangote Refinery drives Local Refining to 40.1ML/Day in January 2026, delivering one of the clearest signals yet that Nigeria’s downstream…
Nigeria’s push to expand oil production beyond the Niger Delta gained fresh momentum as the Nigerian National Petroleum Company Limited…
The Dangote Petroleum Refinery and Petrochemicals FZE has reduced its Automotive Gas Oil (AGO) gantry price from ₦910 per litre…
For months, Nigerians watched cooking gas prices climb relentlessly, draining household budgets and forcing many families back to firewood, charcoal…
INTERNATIONAL MARKET
Oil prices drop 3% after the International Energy Agency (IEA) lowered its global demand growth outlook a revision that unsettled an already fragile crude market and…
OPEC+ oil output drops 439,000bpd a sharp January decline that is already reshaping global supply expectations and easing fears of a looming crude glut. According to…
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…
