How naira float drove NNPC to N5.4tr profit in 2024 — Ojulari
The Nigerian National Petroleum Company Limited recorded a substantial Profit After Tax of ₦5.4 trillion on a total revenue of ₦45.1 trillion…
Oil and Gas
Leading source of the latest news and insights for the oil & gas industry; upstream and downstream sector
TotalEnergies, Conoil seal offshore asset swap deal
TotalEnergies has reached an agreement with Conoil Producing Limited to execute an asset swap involving two offshore Nigerian blocks. As part of…
Nigeria’s 2025 licensing round draws interest from global oil firms
Nigeria’s upcoming 2025 Licensing Round is already attracting early interest from international oil companies, fueled by renewed confidence in the Nigerian Upstream…
Dangote denies import duty influenced 5.6% petrol price cut
The Dangote Petroleum Refinery has officially debunked reports suggesting that recent reductions in petrol pump prices were due to the Federal Government’s…
Dangote, local refineries drive 111% surge in Nigerian petrol supply
Nigeria’s domestic petrol supply experienced a significant surge, increasing by 111 per cent in 2025 to reach a record 3.8 billion litres…
PENGASSAN hails FG’s suspension of 15% petroleum import duty
The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, Festus Osifo, has praised the federal government’s suspension of…
FG drops proposed 15% petrol import tariff — NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority announced on Thursday that it has abandoned plans to impose a 15 percent duty…
Presidency eyes NNPC asset shake-up to boost oil output
The Presidency is currently making plans to restructure asset ownership within the Nigerian National Petroleum Company Limited due to mounting concerns regarding…
Nigeria’s crude profit plunges despite oil production rebound
Nigeria’s gross profit from crude oil and gas sales experienced a sharp plunge of N824.66 billion in 2024, despite a reported rebound…
Rivers assembly probes firm over oil spillage damaging community farmlands
The Rivers State House of Assembly has initiated a probe into serious allegations that Renaissance Africa Energy Company Limited failed to address…
Dangote refinery reduces petrol price to ₦828 per litre
The Dangote Petroleum Refinery has reduced the gantry price of its Premium Motor Spirit, also known as petrol, to ₦828 per litre…
NNPCL plans 20% increase in Dangote Refinery stake
The Nigerian National Petroleum Company Limited on Tuesday disclosed plans to raise its equity stake in the $20 billion Dangote Petroleum Refinery…