The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has released draft regulations that would ban petroleum companies from fixing prices, sharing markets, rigging bids, or jointly restricting fuel supply. The framework was published on Thursday, August 6, 2026, and stakeholders have 21 days to submit written comments before it is finalised. The draft Midstream…
Nigeria LNG Limited has dedicated 100% of its liquefied petroleum gas production to the domestic market, ending exports in a push to improve access to affordable cooking gas. Prices have already fallen to around N1,075 per kilogram in many locations. The announcement came as cooking gas prices continue to decline across the country, offering relief…
.The Federal Competition and Consumer Protection Commission has told electricity distribution companies that customers will not bear the cost of replacing obsolete prepaid meters. FCCPC chief Tunji Bello issued the warning in Abuja. Bello spoke at a stakeholder engagement on consumer protection and regulatory cooperation in the electricity sector. The meeting brought together the Nigerian…
Major filling stations, including MRS and AA Rano, have cut petrol pump prices, offering relief to Nigerian motorists. The reductions follow a fresh wave of price cuts at private depots, with Dangote Refinery’s pricing strategy shaping the market. A market survey on Saturday showed MRS filling stations in Abuja reduced the retail price of Premium…
The Nigerian National Petroleum Company Limited (NNPCL) has officially deployed more than 1,000 young Nigerian professionals into its workforce after they completed a one-year internship, intensive training and performance evaluation programme. Group Chief Executive Officer Bayo Ojulari made the announcement on NNPCL’s official social media platforms, describing the exercise as a significant milestone in the…
The Organisation of Petroleum Exporting Countries and its allies, OPEC+, has approved a 188,000 barrels per day increase in oil production quotas for September. This is the fourthconsecutive monthly output hike as the group continues unwinding supply cuts introduced in 2023. The decision was announced on Sunday after a virtual meeting involving seven key members…
The Nigerian National Petroleum Company (NNPC) Limited has released new pump prices for Premium Motor Spirit (PMS) across its retail stations nationwide. Motorists in Lagos now pay N1,265 per litre, a N35 cut from N1,300, while Abuja buyers pay N1,335 after a N15 reduction from N1,350. Bayelsa and Akwa Ibom have the lowest NNPC petrol…
As the Energy lndustry grows and becomes more complex, reporting on it requires greater depth and context This was the message to an Executive Master Class on Journalism, organised by the Society of Petroleum Engineers, SPE, in partnership with SEQUEST UPSTREAM COMPANY LTD, with the theme “Engineering the Narrative: Why Technical Knowledge Matters in Energy…
The landed cost of imported petrol has climbed above the price of Dangote refinery’s product, strengthening arguments for Nigeria to stop fuel imports and rely on local refining. According to the latest Energy Bulletin from the Major Energies Marketers Association of Nigeria, imported petrol cost N1,223.32 per litre as of July 29, higher than Dangote’s…
Seplat Energy Plc has agreed to sell a 10 per cent interest in the NNPCL-SEPNU Joint Venture to the Nigerian National Petroleum Company Limited for $281.6m. The company says the deal will boost shareholder returns and strengthen its balance sheet. Seplat disclosed the transaction on Thursday in its unaudited financial results for the six months…
