Dangote Refinery cannot supply Nigeria’s fuel demands, NNPCL tells court
The Nigerian National Petroleum Company Limited has said that Dangote Petroleum Refinery cannot yet prove it can meet the country’s total fuel…
Oil and Gas
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Chinese firms to gain 51% stake in PH, Warri refineries
The Nigerian National Petroleum Company Limited is considering an NLNG-style equity partnership that could hand Chinese investors a majority stake of about…
Iran threatens tariffs on Strait of Hormuz internet cables
Iran has threatened to impose tariffs on Strait of Hormuz submarine cables, which are crucial for the region’s digital economy. After a…
Nigeria’s oil exploration dropped sharply in April — OPEC
Nigeria’s oil exploration and drilling activities declined by 41.7 per cent in April 2026, following reduced upstream operations and investment activities. According…
Iran sets up new body to manage Strait of Hormuz
Iran’s top security authority said on Monday it has established a new body to oversee operations in the Strait of Hormuz, a…
ADES secures $48.2m jack-up rig contract in Nigeria
Offshore drilling contractor ADES Holding has secured a new contract in Nigeria for its Main Pass IV standard jack-up rig. The contract…
OPEC+ plans gradual restoration of oil production quotas by September
Key members of OPEC+ are planning to continue a series of gradual oil quota increases over the coming months, with the aim…
Why we rejected NNPCL’s bid to increase stake in refinery — Dangote
President of the Dangote Group, Aliko Dangote, has disclosed that the company turned down efforts by the Nigerian National Petroleum Company Limited…
Petrol consumption rises despite pump price hike in April — NMDPRA
Despite an increase in the pump price of Premium Motor Spirit, also known as petrol, daily consumption rose by 10.78 per cent…
Nigeria exported 80% crude in Q1 2026 despite local refineries — NUPRC
Oil companies in Nigeria exported about 80 per cent of the country’s crude oil production in the first quarter of 2026 despite…
Oil prices surge above $105/b as Trump rejects Iran peace terms
Oil prices have risen sharply after President Donald Trump dismissed Iran’s response to United States proposals to end the war as “totally…
US crude imports from Nigeria fall 15% in Q1
The United States spent $578.78m on crude oil imports from Nigeria in the first quarter of 2026, down from $681.40m in the…