Petrol supply falls sharply as domestic crude supply drops 6.3%
Nigerian refineries received 15.97 million barrels of domestic crude oil in September 2026, a 6.3 per cent decrease from the 17.05 million…
Oil and Gas
Leading source of the latest news and insights for the oil & gas industry; upstream and downstream sector
Brent crude hits $115/barrel as fresh petrol price hike looms
Petrol prices in Nigeria may rise again after Brent crude climbed to $115.18 per barrel on Friday, as fears of fresh military…
Brent crude climbs above $115/barrel as Middle East conflict rages
Oil prices traded at five-month highs on Friday, with Brent North Sea crude, the benchmark contract, rising above $115 a barrel as…
Nigeria’s petrol imports fall 30.1% to 10.2 million litres daily
Nigeria’s daily petrol imports fell by 30.1 per cent to 10.2 million litres in September 2026, even as consumption rose to 44.4…
Petrol landing cost drops marginally to ₦1,283.81/litre
The landing cost of imported Premium Motor Spirit, commonly called petrol, has slipped slightly to ₦1,283.81 per litre, down from ₦1,292.88 per…
Oyedele rules out fuel tax, labels rumour ‘fake news’
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has dismissed reports that the Federal Government plans to introduce…
I have no regrets over fuel subsidy removal, Tinubu declares
President Bola Tinubu has declared that he has no regrets over the removal of the fuel subsidy, vowing that Nigeria will never…
Marketers urge FG to extend petrol discount to 60 days
Oil marketers have urged the Federal Government to extend its 30-day petrol discount window to 60 days and to include independent marketers,…
NNPC seeks equity partners to revive Port Harcourt, Warri refineries
The Nigerian National Petroleum Company Limited is awaiting technical assessments from two Chinese firms on the Port Harcourt and Warri refineries before…
Nigeria keeps to OPEC quota for fifth straight month as output rises
Nigeria stayed within its production quota set by the Organization of the Petroleum Exporting Countries for the fifth consecutive month in September,…
Obasanjo backs higher derivation for oil-producing states
Former President Olusegun Obasanjo has thrown his weight behind calls to raise the 13 per cent derivation allocation to oil-producing states, describing…
Brent crude nears $107/barrel as Houthi attacks hit Saudi Arabia
Brent crude climbed to almost $107 per barrel on Monday after Yemen’s Iran-backed Houthi movement carried out strikes on Saudi Arabia, deepening…