OPEC+ raises oil quota for May amid Iran war
OPEC+ is set to raise its oil production quota by 206,000 barrels per day for May 2026. This is according to sources…
Oil and Gas
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Dangote Refinery denies getting seven crude cargoes allocation from NNPCL
Officials of the Dangote Petroleum Refinery are unaware of claims that seven crude cargoes have been allocated to it in May by…
Nigeria, 39 other nations meet over Hormuz Strait crisis
With pressure growing over the closure of the Strait of Hormuz by Iran, 40 countries, including Nigeria, on Thursday held a virtual…
Nigeria oil exploration dropped 45% in February 2026 — NUPRC
Nigeria’s oil exploration declined by 45 per cent month-on-month in February 2026, driven by reduced upstream activities. Data from the Nigerian Upstream…
Nigeria’s gas production hits 7.5 bcf daily as 2030 target nears
The coordinating director of the Decade of Gas Secretariat, Ed Ubong, has disclosed that Nigeria’s gas production increased from about 6.8 billion…
Nigeria’s oil, gas investment tripled in Nigeria 2025 — NBS
Nigeria’s oil and gas sector recorded a significant boost in investor interest last year as capital inflows jumped sharply. According to the…
US-Israel-Iran war pushes oil prices to $117/barrel
Israel and Iran exchanged fresh missile strikes on Monday, driving oil prices sharply higher and fueling fears that the United States could…
Oil prices rise as brent crude eyes record monthly gain
Oil prices climbed further on Monday, with Brent crude set for its biggest monthly gain on record after Yemen’s Houthi forces carried…
NNPCL targets 600tn cubic feet gas reserves expansion
The Nigerian National Petroleum Company Limited has announced plans to increase the country’s gas reserves from the current 210 trillion cubic feet…
Global crude prices drop after Iran allowed oil ships through Hormuz
Oil prices declined on Friday after U.S. President Donald Trump said Iran permitted 10 oil tankers to transit the Strait of Hormuz…
FG lifts ban on fuel imports amid supply concerns
The Federal Government has lifted its ban on fuel imports, granting six new licences for the importation of Premium Motor Spirit (petrol),…
Crude-for-naira: Dangote refinery gets only five of 15 cargoes, CEO laments
The Chief Executive Officer of the Dangote Refinery, David Bird, has called for greater transparency in Nigeria’s crude oil allocation system, warning…