US President Trump urges oil executives to invest in Venezuela's vast reserves post-Maduro capture, promising security. CEOs remain wary, citing past seizures and calling the nation 'uninvestable'.
A new report projects Nigeria's oil production could reach 1.8 million barrels per day by Q2 2026, driven by Ogoni fields revival and pipeline security. Discover the key milestones and economic impact.
The Central Bank of Nigeria projects petrol prices will hover around N950 per litre in 2026, based on oil prices and forex. This is higher than current rates set by Dangote Refinery. Read the full analysis.
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.
PETROAN outlines critical steps for cheaper fuel in 2026, citing crude supply and policy stability. Learn about the naira-for-crude policy's challenges and new refinery impact.
The Trump administration outlines conditions for Venezuela's oil restart, including severing ties with US adversaries and partnering with American firms. Read the full details.
Economist Bismarck Rewane warns Nigeria faces fiscal deficits from falling crude oil prices. He projects market growth but urges spending efficiency. Read his full analysis.
Global oil prices drop after Trump's Venezuela deal, falling below Nigeria's $64.85 per barrel budget benchmark. This threatens the implementation of the N58.18 trillion 2026 budget. Read the full analysis.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
President Tinubu cancels $1.42bn NNPC debt. Reps' Agbese links it to CEO Ojulari's transparency and record oil output. Read the full analysis.
NNPC Limited remitted N12.117 trillion to the Federation Account in ten months, reporting strong revenue and profit growth. Oil production held steady as key gas pipeline projects near completion.
NNPC Ltd announces N4.36 trillion revenue and N502 billion profit for November 2025, driven by increased oil production. Discover the full financial and operational breakdown.
PETROAN projects 850,000 bpd from new refineries but slams N11.35tr waste on state plants. Read the 2026 outlook for Nigeria's oil sector.
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.
Heritage Energy says years of restructuring and investment in OML 30 are now yielding rising production and stronger reserves. The firm prioritized long-term stability over short-term gains.
The Nigerian government is pushing to resume crude oil production in Ogoniland, Rivers State, marking a major shift in a long-standing dispute. Read about the new peace efforts and economic implications.
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.
President Tinubu commends Ogoni peace efforts for oil revival, but activists demand justice and environmental cleanup first. Read the full story on the tensions and government plans.
PETROAN endorses Nigeria's 2026 budget, citing realistic oil targets. It urges transparent privatisation of state refineries by Q1 2026 and highlights security, host communities, and regulatory funding as key to success.
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.
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.