Category: Oil and Gas

NNPCL targets 2mbpd crude oil in 2026

The Nigerian National Petroleum Company Limited has officially set its crude oil production target for...

Nigeria’s oil output drops to 1.486mbpd, below OPEC quota

The Organisation of Petroleum Exporting Countries has reported that Nigeria’s oil production, excluding condensate, experienced...

Nigeria launches Africa’s first gas market

The Federal Government of Nigeria officially launched Africa’s first gas trading market on a Thursday,...

Petrol supply jumps 37.7% as refineries remain shut — NMDPRA

Domestic supply of Premium Motor Spirit, which is widely known as petrol, recorded a significant...

NNPCL subsidiary hits 355,000 bpd, highest output since 1989

NNPC Limited on Tuesday disclosed that oil production by its upstream subsidiary, NNPC E&P Limited,...

Diesel price surges by 9.45% to N1,398/litre

The average retail price of diesel (Automotive Gas Oil) rose in October 2025, climbing by...

Nigeria’s oil output to hit 1.73mbpd in 2026 — Report

BMI, a Fitch Solutions company, has projected that Nigeria’s oil production is expected to record...

FEC sets 2026 oil benchmark at $64, ₦1,512/$ exchange rate

The Federal Executive Council has given its approval to the 2026–2028 Medium-Term Expenditure Framework. This...

FG orders oil firms to fast-track projects, increase production

The Federal Government has called on oil companies operating in Nigeria to fast-track project sanctions...

FG launches $100m equity fund for oil and gas firms

The Federal Government has launched a $100 million equity investment scheme aimed at boosting the...

FG unveils 50 oil blocks, targets $10bn investment

The Federal Government has announced the immediate opening of bids for 50 oil and gas...

Why Nigeria doesn’t need to import petrol — Dangote

President/Chief Executive of Dangote Industries Limited, Aliko Dangote, has criticised the crude supply practices of...