Bonny Light nears $95 as Middle East tensions persist
The popular Nigerian crude contract, Bonny Light, approached the $95 per barrel mark amidst heightened market uncertainty driven by persistent geopolitical tensions,…
Oil and Gas
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Tinubu vows revival of govt refineries
President Bola Tinubu has assured Nigerians that government-owned refineries will return to operation following ongoing reforms aimed at making them commercially viable…
EFCC recovers ₦115bn, $84m unpaid NDDC levies from oil firms
The Economic and Financial Crimes Commission has recovered more than N115bn and $84m in outstanding statutory levies owed the Niger Delta Development…
Dangote Refinery alone not enough for Africa, says FG
The Federal Government has said the Dangote Refinery alone cannot meet Africa’s growing refined petroleum products needs, urging local and international investors…
Global EITI team arrives to assess Nigeria’s oil, gas reforms
The Global Extractive Industries Transparency Initiative validation team has arrived in Nigeria to assess the country’s progress in improving transparency and accountability…
India’s HPCL buys two million barrels of Nigerian crude
India’s Hindustan Petroleum Corp has purchased two million barrels of Nigeria’s Utapate and Okwuibome crude for delivery in late September, in a…
OPEC+ raises output again as Nigeria beats quota
OPEC+ has approved a 188,000 barrels per day increase in oil production quotas for September. This marks the fourth consecutive monthly output…
Nigeria’s crude oil export earnings drop 14.41% to $31.54bn
Nigeria’s crude oil export earnings dropped in 2025 compared to the previous year, according to the Central Bank of Nigeria. The Federal…
Petrol depot prices drop nationwide amid rising competition
Petrol depot prices declined across major supply centres on Tuesday as marketers implemented fresh price cuts, signalling increased competition in the downstream…
Brent crude nears $99/barrel after Houthi strike on Saudi oil vessels
The price of main international oil contract, Brent North Sea, soared five per cent Thursday after Houthi rebels claimed to have struck…
Dangote Refinery resumes naira petrol sales at ₦1,215/litre
Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit, also known as petrol, in naira after a week suspension, ending…
NUPRC awards 37 oil blocks to 31 companies despite ‘threats’
The Nigerian Upstream Petroleum Regulatory Commission on Tuesday declared 31 companies as winners of 37 oil and gas blocks under the 2025…