Oil Prices Rise Despite US-Iran Ceasefire Extension
Oil prices increased on Wednesday as markets reacted to Middle East uncertainty despite a ceasefire extension. Brent crude neared $100 per barrel amid supply concerns.
Category : Oil Gas
NNPC Boosts Crude Supply to Dangote Refinery in April
NNPC Trading supplied over 1.03 million metric tonnes of crude to Dangote refinery in April 2026, with eight cargoes from major Nigerian streams, supporting operations.
Dangote Refinery Starts Petrochemical Production, Reveals Uses
Dangote Refinery partners with Honeywell to produce propylene and LAB, targeting 750,000 tonnes of propylene and 400,000 tonnes of LAB annually.
Firm Claims 96% Oil Output in Niger Delta, Denies Sabotage
Abili Integrated Services Limited asserts it maintains 96% oil production in its operational areas, refuting sabotage allegations and calling for transparency in pipeline security management.
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Erha Field's 20-Year Legacy: A Model for Nigerian Energy Value
Marking two decades since first oil, Nigeria's Erha Field demonstrates how regulatory clarity, capital discipline, and Nigerian Content have generated over $23 billion in revenue, offering a playbook for sustainable deepwater development.
Dangote Starts Crude Production, Reduces NNPC Dependence
Dangote Refinery has initiated crude oil production from Niger Delta assets, with initial output at 4,500 barrels per day. This move aims to reduce dependency on NNPC for feedstock supply.
Iran War: $50B Oil Loss in 50 Days, Market Disrupted
The Iran war has caused a $50 billion loss in global crude oil over 50 days, with 500 million barrels removed from the market. Analysts warn of prolonged impacts on aviation, refining, and energy supply.
Nigeria Imports 61.7M Barrels of U.S. Crude Despite Exports
Nigeria imported 61.7 million barrels of crude oil from the United States between January 2024 and January 2026, highlighting a growing dependence on foreign feedstock even as the country remains one of Africa's top crude exporters.
Oil Prices Surge as Iran Re-Closes Strait of Hormuz
Global oil prices rebounded sharply Monday after Iran re-closed the vital Strait of Hormuz, citing a U.S. blockade of its ports. The move reversed Friday's gains and heightened tensions despite ongoing ceasefire talks.
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Petrol Price Hopes Fade Over Iran-US Tensions
Hopes for petrol prices dropping to N900 per litre in Nigeria have dimmed after Iran reclosed the Strait of Hormuz, disrupting global oil supply and fueling market uncertainty amid US-Iran tensions.
Nigeria Oil Theft Crackdown: 586 Arrests, Dozens Convicted
Tantita Security Services reports intensified operations in the Niger Delta led to 586 arrests and 125 court cases against oil theft, signaling a shift from arrests to prosecutions.
Oranto Sells 75% Sao Tome Oil Stake to Brazil's Petrobras
Nigerian billionaire Arthur Eze's Oranto Petroleum has sold a 75% stake in Sao Tome's Block 3 to Brazil's state-owned Petrobras, marking a significant shift in West African oil exploration. The deal aligns with Petrobras' $1.3 billion international strate
Oil Drops 10%, Wall Street Rallies After Hormuz Reopening
Global markets surged as Iran reopened the Strait of Hormuz, easing oil supply fears. Oil prices fell over 10%, while U.S. stocks reached new records amid investor optimism.
Oil Drops 9% After Iran Opens Strait of Hormuz in Ceasefire
Oil prices fell sharply after Iran announced the Strait of Hormuz is open for commercial transit during the Lebanon ceasefire, with Brent crude dropping 9.5% and WTI sinking 9.6%.
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Fuel Depot Owners Brace for Petrol Price Hike as Crude Nears $100
Nigerian fuel depot owners are preparing for imminent petrol price adjustments as global oil prices approach $100 per barrel due to Strait of Hormuz disruptions. Brent crude trading at $99.43 creates market anxiety.
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PETROAN Calls for Petrol Import Licences to Stabilise Prices
PETROAN calls on the Nigerian government to reinstate petrol import licences to boost competition, stabilise fuel prices, and ensure energy security, supported by World Bank warnings.
Energia Appoints Bashorun as CEO After COO Tenure
Energia Limited has named Oladimeji Bashorun as its new CEO, following his role as COO. With over 20 years in oil and gas, including stints at Shell and Sahara, he aims to drive operational excellence and growth.
Stakeholders Lament $4bn Oil Theft Loss, Support Tantita
Ethnic Youth Leaders' Council highlights Nigeria's $4 billion loss to crude oil theft in nine months, endorsing Tantita Security Services for pipeline surveillance to boost economy and security.
PETAN Swears In New Executive Committee in Lagos
The Petroleum Technology Association of Nigeria (PETAN) has inaugurated its newly elected Executive Committee in Lagos, marking a leadership transition. The committee, led by Chairman Wole Ogunsanya, aims to advance local content and indigenous participat
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SPL Breaks Ground on Utorogu Gas Plant in Delta
Southfield Petroleum Limited has commenced construction of a 200-300 MMSCFD gas processing plant in Utorogu, Delta State, supporting Nigeria's 'Decade of Gas' initiative and boosting domestic energy supply.
African Oil Producers, Refiners Seal Pact on Market Integration
African oil producers and refiners have agreed to deepen cooperation on infrastructure, regulation, and market integration, with a focus on harmonizing fuel standards and boosting energy security across the continent.
Nigeria's Crude Evacuation Crisis: Key to Higher Oil Output
Nigeria's oil sector faces critical inefficiencies in crude evacuation, hindering production and revenue. The Amukpe-Escravos Pipeline offers some relief but fails to address deeper structural issues like security risks and underinvestment.
Nigeria's Oil Output Rises to 1.38 Million Barrels Daily in March
Nigeria's crude oil production increased to 1.38 million barrels per day in March 2026, marking a 5.25% rise from February but still below OPEC's quota of 1.5 million bpd.
Nigeria Among Top 10 African Countries with Lowest Petrol Prices
Nigeria has secured the 8th position among African countries with the lowest petrol prices in April 2026, according to Global Petrol Prices data. Despite this ranking, domestic fuel costs have risen significantly, with prices exceeding N1,200 per litre.
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Nigeria Misses $3.3b Oil Revenue as Pipeline Advances
Nigeria's oil output fell short of targets, costing $3.3 billion in missed revenue, while the $25 billion Nigeria-Morocco gas pipeline moves forward with a signing expected this year.
Nigeria Becomes Net Gasoline Exporter, Dangote Drives Shift
Nigeria has become a net exporter of gasoline for the first time in March, driven by increased output from the Dangote Refinery. Aliko Dangote also plans a pan-African IPO for the refinery, potentially reshaping African capital markets.
Experts Fault World Bank's Fuel Import Advice for Nigeria
Energy experts have strongly criticized the World Bank's recommendation for Nigeria to increase fuel imports, warning it could undermine local refining investments and violate the Petroleum Industry Act.
ESG: The Real Leadership Test in Nigeria's Oil and Gas
Nigeria's oil and gas industry faces a critical juncture as Environmental, Social, and Governance (ESG) principles shift from compliance to a survival strategy. With global pressures and local demands, companies must embed ESG into operations to secure in
ExxonMobil Plans Multi-Billion Dollar FID in Nigeria by 2027
ExxonMobil announces plans for a multi-billion dollar Final Investment Decision in Nigeria, targeting deep-water projects like Erha and Owowo, with investments up to $16 billion to revitalize the oil sector.
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Stakeholders Back Tantita's Pipeline Security Role
Forensic experts and stakeholders have endorsed Tantita Security Services' role in pipeline protection, crediting coordinated surveillance with boosting oil production and revenue. They warned against fragmenting arrangements that could undermine gains.
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