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…
The federal government has confirmed it will end electricity subsidies from 2027. Minister of Power Joseph Tegbe announced this at a media interactive session on Friday. He said President Bola Tinubu gave the government a direct mandate to clear existing debts in the power sector and build structures that stop new liabilities from piling up….
The Federal Government has removed import duty and Value Added Tax on cooking gas, compressed natural gas and electric vehicles to boost cleaner energy adoption. The Nigeria Customs Service announced the tax incentives on Thursday, July 30, 2026, under the Presidential Gas for Growth Initiative. The policy is expected to lower the cost of bringing…
Nigeria’s average Domestic Gas Delivery Obligations performance reached 2.05 billion cubic feet per day (Bcf/d) as of June 2026, representing a 65 percent compliance rate against the allocated target of 3.16 Bcf/d Oritsemeyewa Eyesan, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), disclosed this during a stakeholders’ workshop on the proposed Gas Swap…
Top U.S. oil producers ExxonMobil and Chevron have warned that global supplies of diesel and other refined products will likely remain tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions. Both companies reported large jumps in second-quarter refining profits on…
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and Governor Siminalayi Fubara have inaugurated a state-of-the-art Specialty Protective Coatings and Paints Manufacturing Plant built by an indigenous company, ‘Solewant Group’ in Rivers State. This is as Lokpobiri described the investment as a milestone in Nigeria’s industrialisation drive and local content development. The facility,…
