Filling stations across Nigeria have increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, after private depot owners raised wholesale loading costs to about N1,200 per litre. Motorists are now paying between N1,100 and N1,230 per litre across major cities as marketers pass on the higher costs to consumers. The latest…
Refinery’s offshore marine terminal has recorded about 1,100 tanker calls since it began operations. The facility now handles around 75 tanker visits every month, with traffic expected to rise to between 900 and 1,000 calls annually as the refinery reaches full capacity. The Head of Port Infrastructure and Marine Operations at Dangote Petroleum Refinery and…
Nigeria’s imports of Liquefied Petroleum Gas (LPG), or cooking gas, skyrocketed by 1,400 percent to 1.5 kilotonnes per day (KT/d) in June 2026, as the country scrambled to address severe supply shortages. According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the surge in imports has helped stabilise prices and brought some relief…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) wants Petroleum Prospecting Licences to move fast on field development while building trust with local communities, in line with the Petroleum Industry Act The Commission’s Chief Executive Mrs. Oritsemeyiwa Eyesan, gave the charge during the formal issuance ceremony for the second batch of winners from the 2022/2023 Mini…
The Nigerian Content Development and Monitoring Board (NCDMB), in partnership with Renaissance Africa Energy Company Limited, has commenced a specialised human capital development programme aimed at equipping 300 young Nigerians with industry-relevant skills in mechanical, electrical and instrumentation engineering. The exercise which is under the NCDMB–Renaissance Oil and Gas Field Readiness Training Programme, is designed…
Gulf nations are scrambling for ways to bypass the Strait of Hormuz, with plans for more pipelines and a new port. Analysts say existing infrastructure has helped cushion the global oil market from even greater price spikes during the US-Iran war. Iran has reportedly put their proxies in Yemen, the Houthis, on notice to block…
Nigeria’s economic recovery could come under renewed pressure from persistently high borrowing costs and inflation despite stronger crude oil production and ongoing economic reforms, the Organisation of the Petroleum Exporting Countries (OPEC) has warned. In its July Monthly Oil Market Report, OPEC said Nigeria’s near-term economic outlook remains positive, supported by higher oil production, improving…
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…
