The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has refuted a report which alleged oil theft worth N8.41 trillion. It said the report was based on a misinterpretation of crude loss statistics between 2021 and July 2025 which had been released by the NUPRC in the spirit of transparency and in line with the Petroleum Industry…
The Petroleum and Natural Gas Senior Staff Association of Nigeria, as well as the Nigeria Union of Petroleum and Natural Gas Workers, have rejected announced plans by the Federal Government to divest significant stakes in Joint Venture assets, managed by the Nigerian National Petroleum Company Limited. The two unions warned that the move to allegedly…
The Nigerian National Petroleum Company Limited has requested that petroleum marketers who applied to purchase fuel through its online portal top up their payments in line with current prices, or risk forfeiting their allocations. Spokesman, Andy Odeh, explained that marketers who cannot meet the new ex-depot rates may instead apply for refunds. He noted that…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has explained that unscheduled maintenance at a refinery facility made Nigeria’s crude oil production drop on a month-on-month basis in August. This comes as Nigeria’s crude oil production dropped to 1.63 million barrels per day month-on-month in August, down from 1.71 million bopd in July. NUPRC disclosed this…
Several filling stations in the federal capital territory, Abuja, have remained shut for more than four days over the delayed rollout of Dangote Refinery’s free fuel distribution scheme. Reports have it that partners in the 650,000-barrel-per-day refinery fuel distribution initiative, including MRS and Conoil filling stations, are experiencing dry tanks, causing supply disruption for Nigerians…
The Nigerian Liquefied Natural Gas (NLNG) Train 7 Project estimated at $10 billion dollars has been shut down by protesting workers. The aggrieved workers are demanding issuance of their tax receipts and tax identification number (TIN) codes. The workers also alleged the illegal deductions from their monthly pay to the tune of N150,000 under the…
Close partnership and collaboration among African oil and gas producing countries are some of the strategies that will enable sustainable development in the continent This was the concensus reached by discussants at the Africa Content Forum, a segment of the 2025 Africa Oil Week holding in Accra, Ghana. The Executive Secretary, Nigerian Content Development and…
Recently, the Federal Government announced that Nigerians would start paying five percent tax on every 10 litres of fuel purchased. Although the take-off date of the policy is uncertain, it did not go down well with Nigerians. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who made the announcement in Abuja…
The Nigerian Content Development and Monitoring Board (NCDMB), has acknowledged the advanced capabilities and proven track record of a leading indigenous service company, West African Ventures (WAV) Nigeria Limited, noting that the firm and others well established Nigerian companies need to pivot to the deepwater segment of oil and gas operations where vast opportunities exist….
Aliko Dangote has dismissed claims that job losses would result from his Refinery’s new distribution plan of 4,000 CNG-powered trucks to enhance efficiency and reduce costs. Concerns from union groups included fears of disruption in the current petroleum supply chain and monopolistic practices. Dangote, however, highlighted that the initiative would create 24,000 new jobs, with…
