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Oil and Gas

Nigeria to hit 3mbpd of crude output by 2030 — NUPRC

Nigeria remains on course to achieve its target of producing three million barrels of crude oil per day by 2030, with ongoing reforms, faster regulatory approvals and renewed investment expected to sustain the country’s production recovery. This was disclosed by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Mrs Oritsemeyiwa Eyesan, who said […]

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Dangote Refinery dumps naira, fixes petrol price at $0.779/litre

Dangote Petroleum Refinery has fixed the ex-depot price of Premium Motor Spirit, petrol, at $0.779 per litre, unveiling a new pricing template that also raised the benchmark prices for diesel and aviation fuel following its transition to dollar-denominated transactions. This marks an end to naira payments for the purchase of refined products, which started after […]

Oil and Gas

Nigeria’s oil output hits 1.56 million barrels in June

Nigeria’s crude oil production rose to an average of 1.56 million barrels per day in June 2026. This exceeded the country’s quota set by the Organisation of the Petroleum Exporting Countries and reached its highest level in more than six years. Vanguard reported that the Nigerian Upstream Petroleum Regulatory Commission disclosed this in a statement […]

Oil and Gas

NUPRC, defence ministry partner on oil infrastructure security

The Nigerian Upstream Petroleum Regulatory Commission has called for deeper collaboration with the Federal Ministry of Defence to strengthen the protection of the country’s oil and gas infrastructure through non-kinetic security interventions. Vanguard reported that a statement by the Head of Media and Corporate Communications, Eniola Akinkuotu, said the move followed a meeting between a […]

Oil and Gas

Nigeria can hit 1.9 million bpd crude oil production — NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has expressed confidence that Nigeria can increase crude oil production to 1.9 million barrels per day, following recent gains that saw the country attain a peak production level of 1.86 million bpd in May. According to Vanguard, the Commission Chief Executive of NUPRC, Mrs. Oritsemeyiwa Eyesan, disclosed this on […]

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US crude imports from Nigeria fall 15% in Q1

The United States spent $578.78m on crude oil imports from Nigeria in the first quarter of 2026, down from $681.40m in the corresponding period of 2025, according to data from the United States Census Bureau and the Bureau of Economic Analysis. The latest figures, contained in the agencies’ March 2026 international trade report, show that […]

Oil and Gas

Refiners fail to lift $3.13bn worth of crude in Q1 — NUPRC

Domestic refiners in Nigeria left an estimated $3.13bn worth of crude oil unlifted in the first quarter of 2026, highlighting deepening inefficiencies in the country’s crude supply framework. Analysis of data released by the Nigerian Upstream Petroleum Regulatory Commission on Wednesday showed that while crude producers made significant volumes available under the Domestic Crude Supply […]

Oil and Gas

NUPRC reports 4.2% rise in March oil output

The Nigerian Upstream Petroleum Regulatory Commission on Wednesday said that Nigeria’s oil production rose by 4.2 per cent to 1.546 million barrels per day in March 2026, compared to 1.483 mbpd recorded in February. In its oil production status report released yesterday, the Commission said crude oil production (excluding condensate) increased by 5.2 per cent […]

Oil and Gas

NNPCL reports ₦2.68tn revenue despite oil production drop

The Nigerian National Petroleum Company Limited has announced a revenue collection of N2.68 trillion from its economic activities in February 2026, even as crude oil production declined to 1.51 million barrels per day amid pipeline outages and operational setbacks. According to The PUNCH, the company reported a 4.2 per cent increase in revenue for its […]

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