State governors have demanded documentary proof of President Bola Tinubu’s reported approval to write off $1.42 billion and ₦5.57 trillion in legacy debts allegedly owed by the Nigerian National Petroleum Company Limited (NNPC Ltd.) to the Federation Account. They raised the issue during the January…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it will strictly enforce compliance with the Petroleum Industry Act (PIA) 2021, especially provisions on host community funding. At a sensitisation programme in Owerri, Imo State, the Commission’s Chief Executive, Mrs Oritsemeyiwa Eyesan, directed oil and gas…
Africa’s oil refining industry is finally shaking off decades of underperformance. For years, the continent exported crude oil while importing petrol, diesel, and aviation fuel, a situation that left consumers exposed to price swings and supply shortages. Today, however, bold investments, massive projects, and operational…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPCL) have agreed to strengthen their cooperation, aiming to improve efficiency and reduce operating costs across Nigeria’s oil and gas sector. The resolution followed a meeting between the management teams of…
Nigeria’s downstream petroleum market closed the trading week ended Friday, February 6, 2026, on a largely bearish note, as depot…
Regulatory pressure is tightening in Nigeria’s downstream petroleum sector as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) intensifies…
Nigeria’s downstream oil market has entered a full-blown price war as petrol prices retreat sharply across major depots, following Dangote…
As Nigeria accelerates LPG adoption and deepens its downstream gas infrastructure, cylinder safety remains a critical component of the value…
The Edo State Government and the Nigerian National Petroleum Company Limited (NNPCL) have finalised plans to build a 10,000 barrels-per-day…
The Federal Government says Nigeria saved over ₦6 trillion in fiscal and foreign exchange losses within the first nine months…
The Dangote Petroleum Refinery has unveiled details of its world-class gantry loading facility, describing it as a critical pillar of…
For months, Nigerians watched cooking gas prices climb relentlessly, draining household budgets and forcing many families back to firewood, charcoal…
INTERNATIONAL MARKET
Global crude markets eased on Friday as traders positioned ahead of the OPEC+ virtual meeting on February 1, where the alliance is widely expected to maintain…
China played a decisive role in stabilising global oil prices in 2025 by ramping up crude stockpiling and absorbing excess supply from the international market. Despite…
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…
