Venezuela Oil Ships Head to US as Storage Nears Capacity
Three Chevron-chartered tankers are transporting Venezuelan crude to the US, as sanctions cause a major storage buildup. Get the latest on the oil shipments and the looming capacity crisis.
Category : Search result: Nigeria downstream oil market
US to Control Venezuela Oil Sales Indefinitely
US Energy Secretary Chris Wright declares indefinite US control over Venezuelan oil sales, aiming to revive production with billions in investment. Details on the plan and its implications.
US Seizes Russian Oil Tanker in North Atlantic
US forces seized the Russian-flagged Marinera oil tanker in the North Atlantic for violating sanctions linked to Venezuela and Iran. A second vessel was captured in the Caribbean. Read the full details.
U.S. Seizes Russian-Flagged Tanker Linked to Venezuela
U.S. forces intercept a Russian-flagged oil tanker after a trans-Atlantic pursuit for violating sanctions on Venezuelan oil. Full details on the dramatic seizure operation inside.
Pastor: God Said US Should Take Venezuela's Oil
Pastor Hank Kunneman defends Trump's plan to control Venezuela's oil, claiming divine approval. Read the global reactions and the controversial spiritual justification.
Nigeria's First Unmanned Fuel Stations Unveiled by AA Rano
AA Rano Nigeria partners with Petrosoft to launch fully automated, 24-hour fuel stations in January 2026. The innovation promises efficiency but raises concerns over massive job losses in the retail sector. Read more.
Venezuela Agrees to Send Millions of Barrels of Oil to US
President Donald Trump announces a major oil transfer deal with Venezuela's interim government. Get the full details on the agreement and its global implications.
Venezuela to Turn Over 30-50 Million Barrels of Oil to US
Former President Trump claims Venezuela's interim government will transfer sanctioned oil to the US, with proceeds controlled by Washington. Details on the plan and regional implications.
Oil Prices Slip to $61 Amid Venezuela Instability
Global oil prices fall to $61 per barrel due to Venezuela's instability. Analysts warn of further drops below $60 if US tensions persist. OPEC+ pauses production hikes.
Trump's 18-Month Plan for US Oil in Venezuela
US President Donald Trump outlines a timeline for American oil companies to expand operations in Venezuela within 18 months, following the capture of Nicolas Maduro. Details inside.
US Venezuela Oil Plan Poses Risk to Nigeria's 2026 Budget
Experts warn that US efforts to revive Venezuela's oil industry could destabilise Nigeria's 2026 budget, which relies heavily on uncertain oil earnings. Discover the potential impact and calls for diversification.
NNPC Lowers Abuja Petrol Price, Dangote Boosts Supply
NNPC reduces petrol prices in Abuja to N815 per litre, offering relief. Dangote Refinery debunks shutdown rumours, delivers 43 million litres nationwide. Lagos prices remain steady.
NGX Hits N100 Trillion Market Cap as Stocks Rally
The Nigerian equities market surged on Monday, with capitalisation crossing N100 trillion. The ASI gained 1.74% as 71 stocks advanced. Discover the top gainers and most active stocks driving this historic rally.
Dangote Refinery Floods Market, Denies Shutdown Rumours
Dangote Refinery confirms full operations, dispelling false shutdown reports after loading 43.3 million litres of petrol in one day. Discover the impact on prices and market stability.
Nigeria's N58tr Budget Faces $10bn Hole from Venezuela Crisis
Political upheaval in Venezuela could flood oil markets, slashing prices and creating a $10 billion shortfall in Nigeria's 2026 budget. Experts warn of severe fiscal strain and pressure on the Naira. Read the full analysis.
Venezuela Crisis Puts Nigeria's N58tr Budget at Risk
Geopolitical shifts in Venezuela could crash oil prices, threatening Nigeria's N58.18 trillion 2026 spending plan and naira stability. Experts warn of a potential $10.24 billion revenue shortfall.
Trump Eyes Venezuela Oil After Seizing Maduro
Following the capture of Venezuelan leader Nicolás Maduro, US President Donald Trump has announced plans for American firms to develop Venezuela's vast oil reserves. Experts warn the plan faces massive hurdles and could take a decade. Read more on the imp
US Venezuela Action Poses Oil Price Risk to Nigeria - Expert
Economist Kalu Aja warns US intervention in Venezuela may flood oil market, pressuring prices and jeopardising Nigeria's $64 per barrel 2026 budget benchmark. Read the full analysis.
Nigeria's Oil Sector Wins in 2025, Says Minister Lokpobiri
Minister Heineken Lokpobiri declares 2025 a successful year for Nigeria's oil sector, driven by reforms, new investments, and strengthened local content. Read the full report on the industry's progress and 2026 outlook.
Dangote Refinery Exports to Ghana May Decline
Ghana's Tema Oil Refinery is back online after years of inactivity, operating at 28,000 bpd. This could reduce its reliance on imports from Nigeria's Dangote Refinery, its top 2025 supplier. Explore the shifting energy dynamics in West Africa.
Dangote Refinery Price War Cost Petrol Retailers Billions
PETROAN reports the 2025 price war between Dangote Refinery and marketers led to massive losses for retailers, squeezed profits, and market instability. The group calls for urgent stakeholder dialogue.
Dangote Refinery Offers 10-Day Credit, Free Fuel Delivery
Dangote Refinery introduces a 10-day credit facility and free logistics for petrol stations, slashing the gantry price to ₦699/litre. This strategic move aims to ease cash flow and distribution costs for dealers nationwide.
Panic as fire guts Arena Market in Lagos
A devastating fire has razed sections of the Arena Market in Oshodi, Lagos, causing massive losses for traders. This comes just a week after the Balogun Market inferno. Read the full report.
Fire Guts Arena Market in Lagos, Traders in Panic
A devastating fire has destroyed goods worth millions of Naira at Arena Market in Lagos. Traders are counting losses as emergency services battle the blaze. Read full report.
Army Arrests 19 Oil Thieves, Destroys 22 Illegal Refining Sites
Nigerian Army's 6 Division, in a sustained operation, has arrested 19 suspects and dismantled 22 illegal refining hubs in the Niger Delta, recovering over N150 million worth of stolen crude. Read the full report on the crackdown.
Fire guts Jos Main Market, destroys shops worth millions
A major fire has gutted sections of Jos Main Market, destroying goods worth millions of naira. Authorities are investigating the cause. Read the latest details and the market's history with fires.
Why Africa's Downstream Sector is the Next Big Investment
Africa's downstream oil sector needs over $100bn investment by 2050. Discover how ARDA is tackling regulatory & infrastructure gaps to unlock this massive opportunity for global investors.
Nigeria ships 33.2m barrels of crude to U.S. in eight months
Nigeria strengthens its role as the top African crude oil supplier to the United States, exporting 33.23 million barrels worth $2.57 billion from January to August 2025. Discover the economic impact and the role of Dangote Refinery.
Dangote Refinery Slashes Petrol Price by N200 in 2025
Dangote Petroleum Refinery closed 2025 with a dramatic N200.50 per litre price cut, reshaping Nigeria's fuel market. Learn how local refining is driving down costs and pressuring importers.
Petrol Station Workers Demand Health Insurance from IPMAN
Labour advocates urge IPMAN to provide health insurance for petrol station workers nationwide, citing daily exposure to toxic fumes and fire hazards. This follows NNPCL's new scheme for its retail workers.
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