The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it has released $185.12 million and N14.9 billion to the Nigerian National Petroleum Company (NNPC) Limited from the frontier exploration fund. A report had suggested that the funds were being withheld by the commission. But in a statement on, Eniola Akinkuotu, the commission’s spokesperson, denied that the…
Shell Nigeria Gas Limited (SNG) is expanding its operations in Ogun State with an agreement to provide gas to SG Industrial FZE, a steel company in the Guangdong industrial zone. This is part of the milestones support the Federal Government’s Decade of Gas initiative and the broader gas development agenda. The agreement adds to a…
The Dangote Petroleum Refinery has stopped the monthly salaries of the engineers sacked in September during its face-off with the Petroleum and Natural Gas Senior Staff Association of Nigeria. In a bid to address this, PENGASSAN said it is engaging the Dangote Group to resolve the matter amicably instead of resorting to another industrial action….
Chairman of Dangote Group, Aliko Dangote, on Friday said Nigerians will no longer experience fuel queues during the Christmas and New Year seasons. Briefing State House correspondents after meeting with President Bola Tinubu at the Aso Rock Villa, Abuja, Dangote said his refinery has formally notified the Nigerian Midstream and Downstream Petroleum Regulatory Authority of…
State producer Saudi Aramco will reduce the price of its Arab Light grade for Asian customers to a 60-cent premium to the regional benchmark for January, according to a price list seen by Bloomberg. It’s the lowest since January 2021 and a drop that was largely in-line with a survey of refiners and traders. The…
The West African Centre for Oil Governance, WACOG, has urged member states of the African Regulatory Forum, AFRIPERF, to give full cooperation to Nigeria, stressing that the continent stands to gain from a unified platform capable of shaping policies that improve investor confidence and enhance energy security. The charge followed the emergence of the Chief…
The Federal Government has launched a $100 million equity investment scheme aimed at boosting the capacity of Nigerian companies operating in the oil and gas sector. The initiative was unveiled on Tuesday at the 2025 Practical Nigerian Content Forum in Yenagoa, Bayelsa State, by the Executive Secretary of the Nigerian Content Development and Monitoring Board…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) remitted N8.79 trillion to the Federation Account jointly run by the federal government, state and local governments between January and October this year, according to a presentation at the November Federation Account Allocation Committee (FAAC) meeting. The commission also recorded a significant rise in revenue inflows for October…
Nigeria’s average daily consumption of premium motor spirit, also known as petrol, rose 19.36 per cent in October 2025 to 56.7 million litres compared to 47.5 million litres recorded over the corresponding period a year ago, with domestic refineries supplying 34.15 per cent. Data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA,…
French oil group, TotalEnergies, said on Monday it was selling a 40-per cent stake in Nigerian offshore exploration licences to a subsidiary of US giant, Chevron. TotalEnergies signed an agreement to sell its stake in licences for two areas covering 2,000 square kilometres in the West Delta basin to Star Deep Water Petroleum Limited, subject…
