The Dangote Petroleum Refinery and Petrochemicals FZE has reduced its Automotive Gas Oil (AGO) gantry price from ₦910 per litre to ₦880 per litre, marking a ₦30 cut. Petroleumprice.ng learned from refinery sources that the new rate took effect on February 12, 2026. This is…
Nigeria’s crude oil output remained below its quota set by the Organization of the Petroleum Exporting Countries (OPEC) in January 2026, extending its streak of underperformance to six consecutive months. OPEC’s latest Monthly Oil Market Report shows that Nigeria produced 1.459 million barrels per day…
Nigeria’s state oil giant, Nigerian National Petroleum Company Limited, has delivered a record financial performance, posting ₦5.76tn profit after tax and ₦60.517tn revenue for the 2025 financial year. The figures, released in the December monthly report summary, position NNPCL as Nigeria’s single most important revenue…
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 revived fears of oversupply in the second half of the year. On Thursday, Brent crude slipped towards $67 per…
OPEC+ oil output drops 439,000bpd a sharp January decline that is already reshaping global supply expectations and easing fears of…
Billionaire investor Femi Otedola has said the naira may strengthen to below ₦1,000 per dollar before the end of 2026,…
Nigeria’s energy story may be entering its most defining chapter yet. Billionaire investor and philanthropist, Femi Otedola, has congratulated Aliko…
Refinery Plc has dismissed claims suggesting its pricing policies favour MRS Oil Nigeria Plc or distort competition in Nigeria’s downstream…
Ogun State is moving closer to becoming an oil-producing state as the Nigerian National Petroleum Company Limited (NNPCL) advances plans…
The Dangote Petroleum Refinery has achieved its full nameplate capacity of 650,000 barrels per day (bpd) after restoring and optimising…
In a market flirting with record highs and stretched valuations, disciplined investors are quietly rotating toward quality income plays. They…
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…
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Nigeria’s petrol market long depended almost entirely on imports, leaving prices exposed…
