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Dangote listed among TIME 100 most influential people

  • 15th April 2026

FG won’t reinstate fuel subsidy despite Middle East

  • 15th April 2026

Olam Agri opens $50m soybean plant in Kwara

  • 15th April 2026

Oil slides further on US-Iran talks optimism

  • 15th April 2026

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Dangote listed among TIME 100 most influential people

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Anthropic gives Claude AI power to end conversations

Anthropic reports progress in fixing chatbot login issues

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FG won’t reinstate fuel subsidy despite Middle East tensions

Business

Nigeria’s inflation rises to 15.38% in March – NBS

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Tag: Oil and Gas

NNPC, First E&P provide free healthcare in host communities
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NNPCL secures $3bn emergency oil loan for naira relief

Juliet Buna The NNPC Limited on Wednesday disclosed that it has signed a Commitment Letter and Term Sheet with AfreximBank for an emergency $3 billion crude oil repayment loan. The company said the agreement was jointly signed by both parties at the bank’s headquarters in Cairo, Egypt. NNPC Limited, in a statement made available to […]

SNEPCo MD predicts gas scarcity by 2030
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SNEPCo MD predicts gas scarcity by 2030

The Managing Director of Shell Nigeria Exploration and Production Company Limited, Elohor Aiboni, forecasts a three billion cubic feet per day gas supply crisis in Nigeria by 2030. Speaking in Lagos at the Nigerian Council of the Society of Petroleum Engineers’ annual conference in 2023, Aiboni warned that despite having the largest proven gas reserves in Africa, […]

Business

Analysts predict crude oil won’t sell $90/barrel

Some oil market analysts have predicted that the price of crude oil is not anticipated to reach $90 per barrel this year due to factors like a decreased likelihood of deeper supply cuts by the Organisation of the Petroleum Exporting Countries and its allies and China’s record-high crude oil stocks. The price of Brent crude, which acts […]

Gas flare fine hits N44.4bn in six months - FG
Oil and Gas

Gas flare fine hits N44.4bn in six months – FG

The Federal Government reported on Friday that the entire gas flare fines collected from oil and gas businesses since January 2023 is $85.1 million, or N44.4 billion at the time’s average exchange rate of N521.2 to the dollar. According to the Punch, as flare fees were intended to serve as a deterrent to encourage greater compliance and the […]

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Shell warns against oil theft, sabotage

The Shell Petroleum Development Company of Nigeria Ltd. has issued a warning against sabotage and crude oil theft. The warning came as three Delta State host communities — Ogulagha, Iduwini Delta, and Iwereland – launched their development trusts in Warri on Thursday. The Petroleum Industry Act, which became law in 2021, established trusts as the […]

Petrol imports from Russia records 84% increase - Report
Oil and Gas

Petrol imports from Russia records 84% increase – Report

Data on Nigeria’s fuel obtained from Argus West Africa Oil shows that the country’s imports from Russia surged by 84% in a year to 3.8 million liters (24,000 barrels) in 2023 from 558,300 liters (3,700 barrels) in 2022. According to The Punch, after the European Union, the United Kingdom, and the United States imposed oil […]

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Marketers predict fuel hike as crude hits $84/barrel

Brent, the international benchmark for crude oil, hit a high of $84 a barrel on Wednesday, fueling concern that Nigeria’s pump price of Premium Motor Spirit, also known as petrol, will rise again in the coming weeks. According to The Punch, crude oil prices, which are a key factor in determining the cost of refined […]

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Crude oil hits $84 per barrel – Report

Brent, the international benchmark for crude oil, hit a high of $84 a barrel on Wednesday, fueling concern that Nigeria’s pump price of Premium Motor Spirit, also known as petrol, will rise again in the coming weeks. According to The Punch, crude oil prices, which are a key factor in determining the cost of refined […]

Pension funds climb by 22% to N18tn - NAICOM
Oil and Gas

NAICOM, operators to inspect local content in oil industry

The benefits and difficulties of putting the requirements of the Nigerian Oil and Gas Industry Content Development Act into practice will be discussed by stakeholders and regulatory organizations in the oil and gas industry as well as the insurance sector. “The National Insurance Commission has agreed to facilitate discussion at the 2023 National Conference on […]

Nigeria to end gas flaring by 2030 - NUPRC
Oil and Gas

Crude oil production hits 1.48mbpd in June – NUPRC

Nigeria produced 1.48 million barrels per day of crude oil in June 2023, including 55,088 and 176,030 bpd of blended and unblended condensates, respectively, according to the National Upstream Petroleum Regulatory Commission. This is 3.5% and 5.71% more oil than it produced in May 2023 and June 2022, when it produced 1.43 and 1.40 million barrels […]

Nigeria, E/Guinea seek new oil, gas opportunities
Oil and Gas

Nigeria, E/Guinea seek new oil, gas opportunities

The governments of Nigeria and the Republic of Equatorial Guinea yesterday discussed the creation of a combined logistics base, the deployment of local resources across nations, and cutting the costs of significant oil and gas activities. These opportunities were examined when the Minister of Planning and Economic Diversification of the Republic of Equatorial Guinea, Gabriel […]

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