Nigerians brace for higher living costs as Dangote Refinery plans petrol price increases due to soaring global crude oil prices, prompting fuel marketers to suspend sales and consumers to face inflationary pressures.
Afreximbank underwrites $2.5 billion in a $4 billion syndicated credit for Dangote Refinery, aiming to strengthen its financial position and support long-term growth across Africa.
Rising global oil prices, driven by Middle East tensions and supply disruptions, are expected to bolster Nigeria's economy as a net oil exporter, though geopolitical risks may limit gains, according to FXTM market analysis.
Esso Exploration and Production Nigeria Limited commemorates two decades of operations at the Erha Field, having produced over 800 million barrels and delivered significant economic contributions to Nigeria.
An energy expert warns that Nigerian refineries face increased costs due to global oil price volatility, as some rely on foreign crude despite local production, risking higher fuel prices.
Petroleum marketers have suspended fresh pricing for petrol and diesel across Nigeria's major depots, awaiting a potential price review from Dangote refinery amid rising global crude oil prices.
The Association of Nigeria Refineries Petroleum Marketers urges the Federal Government to consider a temporary subsidy on petroleum products to cushion the impact of rising global oil prices triggered by the US-Israel-Iran conflict.
Dr. Femi Bajomo, Chairman of Lapis Nigeria Limited, emphasizes the need for investment in training technical and non-technical professionals to strengthen Nigeria's oil and gas sector and prepare future leaders.
Crude oil shipments from Nigeria and Angola to Asia are projected to rise by 200,000 barrels per day in March, reaching 3.72 million bpd, as Middle East tensions disrupt supply and drive prices to record highs.
The Nigerian National Petroleum Company Limited (NNPCL) has exported 950,000 barrels of Cawthorne Blend crude from a new terminal, marking the first such export in five decades, with support from Sahara Group and regulatory approvals.
The Society of Petroleum Engineers Port Harcourt Section 103 hosts the Well Intervention Summit 2026 to address declining productivity from ageing oil wells, rising costs, and the need to maximize existing assets in Nigeria's capital-constrained energy se
The National Bureau of Statistics reveals Nigeria exported N47.43 trillion worth of crude oil in 2025, with Spain leading as the top buyer among European and Asian nations.
)
Nigeria's crude oil exports to the United States plummeted by nearly 47% in January 2026 as global energy emergencies reshape trade dynamics, with Angola and Ghana gaining market share.
Pipeline Infrastructure Nigeria Limited (PINL) calls for stronger collaboration with host communities to enhance oil and gas pipeline security in the Niger Delta, with traditional rulers praising the firm's engagement model.
New data reveals the United States reduced crude oil imports from Nigeria by 47.16% in January 2026, with Angola and Ghana gaining market share, while the US trade surplus with Nigeria widened significantly.
NNPC Limited announces plans for a public listing on major global exchanges, including the New York and London Stock Exchanges, to boost transparency and investor confidence in Nigeria's oil sector.
The Niger Delta Stakeholders Forum appeals to President Tinubu to decentralize pipeline surveillance contracts, warning of economic risks from exclusion and condemning alleged manipulation by Amnesty Programme officials.
ExxonMobil affiliate Esso Exploration and Production Nigeria Limited has launched a permanent Shore Base facility at LADOL, enhancing deepwater logistics and supporting Nigeria's oil sector growth.
Esso Exploration and Production Nigeria Limited commemorates two decades of first oil from the Erha Field, highlighting over 800 million barrels produced, $22 billion in taxes, and significant contributions to Nigeria's deepwater sector and economy.
Oceangate Engineering Oil & Gas Limited plans to appeal a Federal High Court order for asset forfeiture, asserting no wrongdoing and confidence in the judicial process.
Following the rejection of 186 expatriate quotas, Nigeria's PTDF and NUC are rapidly building local skills and updating curricula in the oil sector, focusing on AI, renewable energy, and cost-effective domestic training to reduce foreign reliance.
The Nigerian government has dramatically reduced approval time for reactivating idle oil wells from weeks to hours to boost crude output. Indigenous firms show interest as global prices near $100 per barrel.
The Federal Government has defended its resolution of the OPL 245 oil block dispute, calling it a landmark achievement that saved Nigeria over $2 billion in liabilities and unlocked a major dormant asset, while rebuffing criticisms from former Vice-Presid
Nigeria's push to increase oil production by activating over 400 idle wells faces a $6 billion capital expenditure hurdle, threatening crude supply to Dangote Refinery and domestic obligations amid production losses.
FNCCI Director-General Moses Umoru warns Nigeria may not fully benefit from rising oil prices due to crude-backed loan commitments like Project Gazelle and Project Leopard, which limit fiscal flexibility amid inflation.
Niger Delta communities and civil society organizations are insisting on full participation in oil asset divestment processes, warning that exiting multinationals must not abandon environmental liabilities.
Niger Delta communities and civil society groups call for transparency and environmental justice as NUPRC enforces strict rules on oil asset divestments, amid concerns over unresolved legacy issues.
Global crude oil prices plummeted up to 10% after Donald Trump paused strikes on Iran, raising expectations for reduced petrol prices in Nigeria as marketers face pressure to pass on savings.
VNL Capital reports Middle East conflict has disrupted Strait of Hormuz oil flows, causing major global supply shortfall. Higher transport costs and limited alternatives are pushing oil prices upward as market enters geopolitically sensitive phase.
As global oil prices surge to $114 per barrel due to Middle East conflicts, Nigeria faces a paradox: high prices offer fiscal windfalls but expose deep structural weaknesses. With production below OPEC+ quotas and rising domestic fuel costs, the country m