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 oil security
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 Over Sanctions
US authorities seized the Marinera oil tanker in the North Atlantic for violating sanctions linked to Venezuela and Iran. A second vessel was captured in the Caribbean. Full details on the international enforcement action.
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.
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.
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 Firm Signs Deal for Advanced Drones with Tantita Security
American defence giant Textron Systems will supply three Aerosonde Mk. 4.7 VTOL drones to Tompolo's Tantita Security. The deal, signed on Dec 29, 2025, aims to protect Nigeria's critical oil and gas infrastructure. Read more on this major security upgrade
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.
Nigeria's Q3 Current Account Surplus Falls 41%
Nigeria's current account surplus dropped sharply to $3.42bn in Q3 2025, a 41% decline. Explore the CBN data on oil exports, remittances, and rising external obligations shaping the nation's balance of payments.
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.
4 Oil Theft Suspects, Vessel Handed Over in Delta
Tantita Security Services arrests four oil thieves, intercepts vessel MT Thor in Delta. Handover to Inter-Agency Task Force marks a key step in curbing economic sabotage in Niger Delta. Read details.
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.
Indigenous Firms Control 50% of Nigeria's Oil, Gas Output
The Independent Petroleum Producers Group (IPPG) announces indigenous firms now account for over 50% of Nigeria's crude oil and gas production. Discover the impact on energy security and sector growth.
US Pursues Third Oil Tanker in Caribbean Near Venezuela
The US Coast Guard is actively pursuing another sanctioned oil tanker near Venezuela, intensifying pressure on Caracas's oil sector. This follows the recent seizure of the 'Centuries' tanker. Get the latest details.
Dangote, Others Honoured in Downstream Petroleum Awards
Petroleumprice.ng honours Aliko Dangote, MRS Oil, Rainoil, and others in its first industry awards. Winners were chosen via a hybrid model of public votes and expert judges. Read the full list.
Africa's Fuel Import 'Slavery' Persists Despite New Refineries
Africa remains trapped in fuel import dependence despite new refineries. This analysis reveals the structural barriers, from fragmented standards to poor infrastructure, that keep the continent vulnerable to global shocks. Discover the path to true energy
Civil Society Commends NNPC's Ojulari for Oil Sector Turnaround
A civil society coalition has lauded NNPC Ltd's CEO, Bashir Bayo Ojulari, for transformative leadership that increased crude production to a 36-year high of 355,000 bpd and drove record profits. Read the full appraisal.
NSA Issues Emergency Yuletide Security Alert to Governors
Nigeria's National Security Adviser issues urgent security alert for the 2025 festive season, prompting nationwide deployments and coordinated responses from state governors and police commands.
Venezuela Faces Deep Crisis as US Tightens Oil Blockade
A new US blockade on Venezuelan oil shipments could slash production and halve exports, pushing the economy deeper into crisis. Experts warn of severe impacts.
Trump Announces Naval Blockade Against Venezuela
US President Donald Trump announces a maritime blockade on Venezuela, demanding the return of oil and land he claims were stolen. Get the full details on this escalating crisis.
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