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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commended ExxonMobil and its partners for committing $1 billion to the on-block activities for the Usan Infill Project in OML 138. The Head, Media and Corporate Communications, Eniola Akinkuotu, who made this known, said the Commission’s Chief Executive, Mrs. Oritsemyiwa Eyesan, gave the commendation at the 25th…

The Nigerian National Petroleum Company Limited (NNPCLtd) says it signed agreements of more than US$20 billion in Gas Sale and Purchase Agreements (GSPAs) covering 1.29 billion standard cubic feet per day for long-term LNG feed gas and 750 million standard cubic feet per day for domestic industrial gas supply to DFL FZE and Dangote Refinery….

Seven OPEC+ countries agreed on Sunday to increase oil production by 188,000 barrels per day (bpd) in August 2026. The decision was reached during a virtual meeting of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman to review global oil market conditions and the outlook. The production adjustment stems from the additional voluntary cuts…

The Nigerian National Petroleum Company Limited has said the recently signed Memorandum of Understanding with Chinese firms for the rehabilitation and operation of the Port Harcourt and Warri refineries has entered a rigorous evaluation phase, insisting that the arrangement is aimed at creating profitable and self-sustaining refining assets. The Group Chief Executive Officer of NNPC…

The Federal Government has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, to ensure petroleum marketers do not exploit Nigerians through excessive pricing under the deregulated downstream petroleum market. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, gave the directive in Abuja while delivering the keynote address at the NMDPRA General…

The Dangote Petroleum Refinery has purchased two cargoes of crude oil from the United Arab Emirates, UAE. S&P Global Commodity Insights reports that the latest crude import from the UAE is the first-ever procurement of Middle Eastern crude as the plant expands its feedstock sources amid persistent domestic supply constraints from Nigerian National Petroleum Company…

The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has dropped by 31.8 per cent from a peak of about per kilogramme to N1,500/kg, bringing much-needed relief to Nigerian households. President of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), Edu Inyang attributed the drop to sustained engagements among industry stakeholders,…