Petrol imports crash by 96% as Dangote Refinery boosts supply
Nigeria’s spending on the importation of Premium Motor Spirit, popularly known as petrol, plunged by over 96 per cent in the first…
Oil and Gas
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Nigeria’s trade surplus hits ₦7.55trn on oil export boom
Nigeria’s merchandise trade surplus surged to N7.55 trillion in the first quarter of 2026, representing a 340.88 per cent increase from the…
OPEC+ raises oil output by 188,000bpd amid Middle East tensions
OPEC+ has agreed to another boost in oil production for July, increasing output targets by 188,000 barrels per day, despite ongoing supply…
Navy intercepts 135,000 litres stolen fuel in Rivers waterways
The Nigerian Navy says its operatives under Operation Delta Sentinel have intercepted over 135,000 litres of suspected illegally refined Automotive Gas Oil…
Nigeria misses oil tax revenue target by ₦17.4tn
Nigeria’s petroleum profit and gas tax revenue recorded a shortfall of N17.4 trillion against its target for the first three quarters, underscoring…
Dangote Refinery hits 700,000 bpd processing capacity
Dangote Petroleum Refinery & Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day, exceeding its official nameplate capacity…
Cooking gas prices surge despite rising local production — Report
The price of Liquefied Petroleum Gas, commonly known as cooking gas, has continued to increase across Nigeria despite a significant rise in…
NNPCL revenue jumps 79% to ₦4.97tn
The Nigerian National Petroleum Company Limited recorded a 79.23 per cent increase in revenue in April 2026, with earnings rising to N4.971…
Nigeria’s crude petroleum records 16.37% growth in Q1 2026 — NBS
Nigeria’s crude petroleum sector grew by 16.37 per cent year-on-year in nominal terms in the first quarter of 2026, marking a return…
Dangote Refinery slashes petrol gantry price by ₦25 to ₦1,250/litre
The Dangote Petroleum Refinery has reduced its petrol gantry price by N25 per litre, lowering the cost from N1,275 to N1,250. The…
Dangote Refinery emerges top global jet fuel exporter in April
Dangote Refinery topped global jet fuel exports in April driven by output growth and Middle East supply disruptions. Dangote Petroleum Refinery has…
Oil prices jump after US hit Iran military targets
Oil prices have jumped after the United States carried out new attacks on Iran, targeting a military site in Bandar Abbas, a…