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Nigeria earned ₦20.22tn from crude exports in five

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Nigeria earned ₦20.22tn from crude exports in five months

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Tag: crude oil

Business

Nigeria earned ₦20.22tn from crude exports in five months

Nigeria exported an estimated 148.9 million barrels of crude oil valued at about N20.22tn in the first five months of 2026, showcasing the scale of the country’s oil trade despite persistent concerns over production levels. The crude barrels were exported by both international and indigenous oil companies, including the Nigerian National Petroleum Company Limited. While […]

Oil and Gas

Nigeria’s crude oil exports hit ₦11.2trn in Q1

Nigeria’s crude oil exports rose to N11.20 trillion in the first quarter of 2026, reinforcing the commodity’s position as the country’s largest foreign exchange earner and a key driver of the strong performance in external trade. This is according to latest data from the National Bureau of Statistics. The improved export earnings helped lift Nigeria’s […]

Business

Nigeria’s oil revenue misses budget targets in Q3

Nigeria’s oil revenue performance fell sharply below budget expectations in the third quarter of 2025, highlighting the country’s persistent fiscal vulnerability despite slight improvements in actual oil earnings. According to the latest fiscal performance report by the Budget Office of the Federation, gross oil revenue for the quarter amounted to N4.87 trillion, reflecting a shortfall […]

Business

Crude supply to local refineries hits 58.8m barrels

Oil producers in Nigeria supplied approximately 58.8 million barrels of crude oil to domestic refineries in the second quarter of 2026, surpassing the 55.1 million barrels earmarked under the Domestic Crude Supply Obligation framework. The move reflects a stronger commitment by upstream operators to meet local refining needs, as domestic capacity expands with the ramp-up […]

featured

Brent crude hits four-year high amid Middle East tension

Brent crude surged to a four-year high on Thursday after reports that the United States military was preparing to brief President Donald Trump on possible military options against Iran, heightening fears of renewed conflict and further tightening pressure on Iranian oil exports. The U.S. Central Command is expected to present Trump with potential plans for […]

Business

Oil prices hit $105 as US-Iran ceasefire talks collapse

Oil prices climbed from about $100 per barrel on Wednesday to above $105 on Thursday, following the collapse of talks between Iran and the United States on a ceasefire agreement that was expected to reopen the Strait of Hormuz. Earlier, prices had dropped sharply from around $115 to $88 on Friday after both countries reached […]

Oil and Gas

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 week, stoking concerns over global supply disruptions and keeping energy markets on edge. The escalation has intensified threats to oil infrastructure and maintained pressure on the strategically vital Strait of Hormuz, a key route for crude shipments worldwide. Brent and […]

featured

Brent hits $100 despite emergency reserve release

Oil prices jumped more than 8 per cent on Thursday, with Brent crude climbing to $100 per barrel, as traders remained skeptical that the release of government stockpiles would be enough to counter the major supply disruption caused by the war in the Middle East. U.S. benchmark West Texas Intermediate rose 8.8 per cent to […]

Opinion

Qatar minister warns oil could hit $150/barrel soon

Qatar energy minister, Saad al-Kaabi, has warned that global oil prices may reach $150 per barrel within weeks. He made the forecast on Friday in an interview with the Financial Times. The warning comes amid expectations that all Gulf energy producers may shut down exports due to ongoing Middle East tensions. Kaabi cited the United […]

featured Oil and Gas

Nigeria earned ₦55.5tn from crude oil sales in 2025 — NUPRC

Nigeria earned an average of N55.5tn from crude oil sales in 2025, according to an analysis of official production figures from the Nigerian Upstream Petroleum Regulatory Commission and crude price data from the Central Bank of Nigeria. This 2025 figure represents an increase compared to the N50.88tn earned in 2024. NUPRC data show that Nigeria […]

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