Category: Oil and Gas

Nigeria spent ₦8.96tn on petrol imports in 2025 — NBS

Nigeria’s dependence on imported petrol continued throughout 2025, as oil marketers spent N8.96 trillion on...

Vietnam’s petrol prices surge over 20% amid Middle East war

The cost of petrol rose by more than 20 per cent in Vietnam on Friday...

Brent crude hits $114.13 amid escalating Middle East tensions

The price of Brent crude futures rose to $114.13 per barrel on Thursday after strikes...

Imported petrol cheaper than local by ₦94.53/litre — MEMAN

The landing cost of imported petrol stands at N94.53 cheaper than the domestic gantry price,...

US-Israel-Iran war leaves Africa with weeks of fuel reserves — Report

The escalating conflict in the Middle East, particularly the war involving Iran, has severely disrupted...

Oil prices surge past $100pb as Iran targets crude-producing neighbours

Oil prices surged again on Tuesday following fresh Iranian attacks on crude-producing neighbours, targeting vital...

129,000MT petrol vessels arrive Lagos amid surging fuel prices

As Nigerians contend with rising petrol prices, vessels carrying 129,000 metric tonnes of Premium Motor...

US-Israel-Iran war chokes Hormuz, strains global oil supply — Report

The war in Iran has transformed the Strait of Hormuz into a critical choke point...

Middle East war drives oil prices to new highs

Oil prices kept rising as markets opened Sunday, with both benchmarks higher as the war...

Brent crude hits $105 as Middle East tensions continue

Oil prices climbed further on Monday as the U.S.–Israeli conflict with Iran entered its third...

Dangote Refinery reverses petrol price cut to ₦1,175

The Dangote Petroleum Refinery has raised the ex-depot price of Premium Motor Spirit to N1,175...

Drill or drop, NUPRC ends era of dormant oil licences

The Nigerian Upstream Petroleum Regulatory Commission has declared that the era of oil companies holding...