Oil falls 1% ahead of US-Iran nuclear talks
Oil prices slid about one per cent on Monday as the United States and Iran geared up for a third round of…
Oil and Gas
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PENGASSAN rejects Tinubu’s executive order on oil, gas revenues
The Petroleum and Natural Gas Senior Staff Association of Nigeria on Thursday rejected President Bola Tinubu’s newly signed Executive Order mandating the…
Shell hails Petralon Energy for Dawes Island first oil milestone
Petralon Energy has been commended for the development of the Dawes Island Field, with Shell Western Supply and Trading describing the feat…
IPPG reports 5.8% rise in 2025 oil output
Nigeria’s average crude oil production in 2025 increased to 1.64 million barrels per day, representing a 5.8 per cent year-on-year rise from…
NNPCL plans additional 1.8bcf/d gas supply in 2026
The Nigerian National Petroleum Company Limited has disclosed plans to supply an additional 1.8 billion cubic feet of gas per day in…
A’Ibom rejects claims of returning 76 oil wells to C’River
Akwa Ibom State Attorney General and Commissioner for Justice, Uko Udom SAN, has faulted media reports suggesting that the 76 wells legally…
Petrol imports drop 42.2% as Dangote supply rises
Petrol imports into Nigeria declined by 42.2 per cent in January 2026, falling to an average of 24.8 million litres per day…
NNPC partners Chinese firms to develop gas infrastructure
The Nigerian National Petroleum Company Limited has entered into a tripartite Memorandum of Understanding with China Gas Holdings Limited and Peiyang Chemical…
Nigeria records modest oil production growth amid OPEC shortfall
Nigeria’s crude oil output climbed to 1.459 million barrels per day in January 2026, maintaining its status as Africa’s top oil producer,…
TotalEnergies cuts Q1 share buyback as oil, gas revenues drop
TotalEnergies announced on Wednesday that it will reduce its first-quarter share buybacks by 62 per cent, as low oil and gas prices…
Dangote slashes petrol price by ₦25 to ₦774/litre
Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit (petrol) by N25 per litre. This adjustment lowers its ex-depot rate…
Nigeria gains ₦6tn from downstream petroleum reforms
Nigeria has recorded an estimated ₦6 trillion gain from reforms in the downstream petroleum sector within the first nine months of 2025,…