The world’s largest oil companies are holding back on spending after posting their third-highest quarterly earnings on record, even as crude prices stay above $100 for much of 2026. ExxonMobil Holdings Corp. and Chevron Corp. are stockpiling cash, BP Plc is paying down debt and other liabilities, while Shell Plc and TotalEnergies SE promise caution…
The Nigerian National Petroleum Company Limited (NNPC) says the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project will begin delivering gas to Abuja for power generation before the end of 2026. BuyMaps The Group Chief Executive Officer of NNPC, Bayo Ojulari, disclosed this on Monday at the ongoing 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in…
Cooking gas depot prices rose by as much as 16% in four days, between October 30 and November 2, 2026, according to market data on wholesale LPG loading rates. The increases hit major Lagos suppliers including Navgas, NIPCO, Rain Oil, Techno Oil and 11Plc. Dangote Petroleum Refinery remains the cheapest major supplier at ₦1,050 per…
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, has told investors that Nigeria offers a stable climate amid the global energy tension. In a statement, Eniola AkinkuotuHead, Corporate Communicationssaid Mrs. Eyesan stated this at the 2026 Licensing Round which has 40 oil and gas blocks on offer, She urged investors…
The Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, disclosed that the 2026 Licensing Round portal will officially open on November 20, 2026. Speaking during the 2026 ADIPEC Exhibition and Conference in Abu Dhabi, Eyesan told investors that Nigeria offers a stable climate amid the global energy tension. Eyesan therefore urged investors…
Seven key OPEC+ members are expected to keep oil production targets for December unchanged at an online meeting on Sunday, as export disruptions linked to the US-Iran war continue to hit shipments. Three people familiar with the matter said the core members have agreed in principle to maintain current output levels next month. The meeting…
Petrol depot prices across Lagos, Warri, Calabar and Port Harcourt ranged from N1,323 to N1,349 per litre, according to Major Energy Marketers Association of Nigeria (MEMAN) data released on October 27, 2026. Dangote Petroleum Refinery kept its ex-gantry price at N1,210 per litre, N113 to N139 below the depot rates. The figures come as the…
Nigeria’s daily cooking gas consumption rose 8% to 5.2 kilotonnes in September 2026 from 4.8 kilotonnes in August, even as retail prices ranged from ₦1,200 to ₦1,600 per kilogramme. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said consumption ran ahead of receipts by about 500 tonnes daily. NMDPRA data showed that daily LPG…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched the Nigerian Gas Transportation Network Code (NGTNC) Revision 2. The launch was performed at the opening of OTL Africa Downstream Energy Week 2026. Performing the ceremony in Lagos the Authority Chief Executive, ACE, Mallam Rabiu Abdullahi Umar,described the Network Code as a critical framework…
Cooking gas prices rose by as much as N75 per kilogram across five suppliers between October 20 and October 22, as international crude oil benchmarks climbed. Navgas posted the steepest increase, while Techno Oil and Rainoil recorded the smallest adjustments among the suppliers Navgas raised its LPG price from N1,175 per kilogram on October 20…
