Nigeria Exports 306M Barrels Crude, Local Refineries Face Shortages
Nigeria exported 306 million barrels of crude oil in 10 months, with 69% of production going abroad while local refineries face severe feedstock shortages and shutdowns.
Category : Oil Gas
NNPC Petrol Price Hike N53 Above Dangote Refinery
NNPC Limited has increased petrol pump prices nationwide just days after the last adjustment, now selling at rates N53 higher than Dangote Refinery partners. Marketers warn prices could reach N1,000 per litre.
NNPC Gas Master Plan Targets $60bn Investment, 12bn cfd by 2030
NNPC Ltd launches Gas Master Plan 2026 aiming for 12 billion cubic feet daily gas production by 2030 and attracting over $60 billion in oil and gas investments.
Dangote Refinery Petrol Supply Hits 75M Litres Daily, New Prices
Dangote Petroleum Refinery announces it can supply 75 million litres of petrol daily, exceeding Nigeria's 50 million litre consumption, while raising prices to N799 per litre.
Venezuela Approves Law Opening Oil Industry to Foreign Companies
Venezuelan lawmakers have passed sweeping reforms allowing foreign companies to manage oilfields, aiming to attract investment amid US pressure and sanctions easing.
FG Lowers Oil Block Entry Costs to $3-7M in 2025 Bid
Federal Government reduces signature bonuses for 50 oil blocks to attract investment and boost production to 2.7 million barrels daily by 2027 through transparent digital bidding.
Nigeria Earns N55.5tn from Crude Oil Sales in 2025
Nigeria generated an estimated N55.5 trillion from crude oil sales in 2025, marking a significant increase from the previous year's N50.88 trillion. This growth is attributed to improved production levels and favorable oil prices, though analysts caution
Nigeria Opens 50 Oil Blocks for Bidding in 2025 Round
The Nigerian government has launched a major licensing round offering 50 oil and gas blocks across five sedimentary basins, targeting $10 billion in investments with strict technical and financial requirements.
Dangote Refinery Petrol Price Hike Sparks Nationwide Surge
Dangote Refinery's N100 per litre petrol price increase has triggered immediate adjustments by depot owners nationwide, with experts citing rising global crude oil prices and geopolitical tensions as key drivers of the cost surge.
Dangote Refinery Petrol Price Hike Sparks Nationwide Adjustments
Following Dangote Refinery's N96 increase in petrol ex-depot price, oil marketers nationwide have adjusted pump prices to between N839 and N900 per litre. The refinery cited temporary festive price support ending and assured steady supply of 50 million li
Dangote Refinery Increases Petrol Price by N100 Nationwide
Dangote Refinery has implemented a significant N100 per litre increase in petrol prices nationwide, with retail prices now reaching N839 per litre amid supply challenges and market adjustments.
NNPC, Chevron Discover New Oil Well, Target 146,000 Barrels Daily
NNPC Ltd and Chevron Nigeria Limited confirm discovery of Awodi-07 oil well in Niger Delta, expected to boost Nigeria's production to 146,000 barrels per day and enhance energy security.
NNPC Confirms New Oil Well Discovery in Niger Delta
The Nigerian National Petroleum Company Limited has confirmed a significant new oil well discovery in the western Niger Delta through its joint venture with Chevron Nigeria Limited.
Tinubu Approves Ogun Oil Drilling, Renames Olokola Port
President Tinubu approves commercial oil drilling at Tongeji Island in Ogun State, making it an oil-producing state, and renames Olokola Deep Seaport as Blue Marine Economic Zone to boost economy.
PINL Offers to Mediate FG-Ogoni Oil Exploration Talks
Pipeline Infrastructure Nigeria Limited plans to mediate between the Federal Government and Ogoni stakeholders to resume oil exploration in Rivers State, addressing community concerns and economic goals.
Gas Industrialisation Key to Nigeria's Economic Recovery - NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reaffirmed that gas industrialisation is central to Nigeria's economic recovery, intensifying enforcement and accelerating gas distribution nationwide under the Decade of Ga
Tinubu Approves Oil Drilling and Port in Ogun
President Bola Tinubu has approved commercial oil drilling at Tongeji Island and the Olokola Deep Seaport in Ogun Waterside, marking a major economic breakthrough for the state.
Oranto Petroleum Details Senegal Exit Over Contract Breach
Nigerian billionaire Arthur Eze's Oranto Petroleum reveals it suspended Senegal investments due to government contract breaches, disputing claims of inadequate investment.
Tinubu Approves Shell Bonga Project Incentives, Demands 2027 FID
President Bola Tinubu has approved targeted incentives for Shell's Bonga South West deep-offshore oil project to attract investment, create jobs, and boost Nigeria's economy, with a demand for Final Investment Decision before 2027.
Tinubu Approves Oil Drilling and Seaport in Ogun
President Bola Tinubu has approved commercial oil drilling at Tongeji Island and the Olokola Deep Seaport project in Ogun State, with the Nigerian Navy establishing a security base.
N1.58 Trillion Petrol Spending in December 2025
Official NMDPRA data shows Nigerians consumed 1.97 billion litres of petrol in December 2025, spending N1.58 trillion amid festive travel and commercial activities.
New Nigerian Refinery in Calabar to Compete with Dangote
Clarivo Oil and Gas Ltd plans to build a state-of-the-art refinery in Calabar, featuring modern technology to produce petrol, diesel, and aviation fuel, aiming to reduce Nigeria's fuel imports.
Nigerian Billionaire Loses Senegal Oil Licence After 18 Years
A Nigerian billionaire has lost an oil exploration licence in Senegal after holding it for 18 years, with reasons emerging related to regulatory and operational issues.
NNPC Rejects Bullying Claims Over Omotowa's Exit
NNPC Ltd and industry analysts dismiss reports linking Engr. Seyi Omotowa's resignation to internal bullying, calling it a routine corporate transition. Read the full details.
Anambra community protests 10 years of neglect by oil firm
Residents of Ogwu Ikpele in Anambra block oil company SPEECO, citing a decade of unfulfilled promises, environmental damage, and lack of basic amenities. Read their full demands.
Nigeria's November Oil Output Falls to 1.486m bpd
Nigeria's crude oil production declined to 1.486 million barrels per day in November 2025, falling short of its OPEC quota. Experts cite insecurity and policy gaps as key reasons. Read the full analysis.
Heirs Energies Doubles Oil Production to 50,000 BPD
Tony Elumelu's Heirs Energies has doubled crude oil production to over 50,000 barrels per day in five years, reviving 100 wells and boosting gas output. Discover how this achievement strengthens Nigeria's energy security.
NNPCL Boss: Company is Reliable Engine of Economic Growth
NNPCL GCEO Bayo Ojulari declares the state oil firm a reliable engine for Nigeria's economy, citing record production and key infrastructure milestones. Read his full vision for 2026.
Heirs Energies Doubles Oil Production to 50,000bpd
Heirs Energies reports doubling oil production to over 50,000bpd and boosting gas output, while acquiring a major stake in Seplat. See how Africapitalism drives Nigeria's energy security.
First Female NUPRC Chief Eyesan Drives Upstream Reforms
Chief Mrs. Oritsemeyiwa Eyesan makes history as the first woman to lead Nigeria's upstream oil regulator. Discover her strategic vision for boosting production, gas monetisation, and transparency to attract investment and secure Nigeria's energy future.
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