Heirs Energies marks 5 years with major oil, gas production growth
Heirs Energies reports oil production doubled & gas tripled on OML 17 after five years, boosting Nigeria's domestic energy supply and power generation. Read the full report.
Category : Oil Gas
Nigeria Spends N1.7 Trillion on Petrol in December 2025
Nigeria's petrol consumption soared to 63.7 million litres daily in December 2025, costing the nation an estimated N1.7 trillion. Dangote Refinery ramps up supply as imports remain dominant. Read the full analysis.
Energy Think Tank Expresses Confidence in New NUPRC Boss
The Centre for Energy Reforms says Oritsemeyiwa Eyesan's appointment as NUPRC CEO can strengthen regulation and rebuild investor confidence in Nigeria's upstream oil sector. Read more.
FG Warns Oil Firms, May Revoke Undeveloped Blocks
The Federal Government warns it may revoke licenses for undeveloped oil blocks. Minister Lokpobiri says licenses are not status symbols, and no refunds will be given. Read the latest on Nigeria's energy sector.
Dangote Petrol N44 Cheaper Than Imported Fuel
Dangote Refinery sells petrol N44 per litre cheaper than imports, forcing a price war. Learn how this impacts Nigerian consumers and the market's future.
Dangote Refinery Hits 50M Litres Daily, Plans Major Expansion
Dangote Refinery's CEO assures Nigerians of stable petrol prices, reveals a 1.4 million barrel per day expansion plan for 2026, and details how 24-hour operations are ending fuel scarcity.
Nigeria's Oil Production Falls as FG Sets Strict Bid Terms
Nigeria's crude oil production fell in December 2025, lagging behind OPEC peers. The FG announces strict terms for the 2025 bid round, ending licence speculation. Read the full analysis.
TotalEnergies Divests 10% Stake in Renaissance JV to Vaaris
TotalEnergies EP Nigeria signs agreement to sell its 10% interest in Renaissance JV assets to Vaaris. The deal involves 15 oil licences and marks a major portfolio restructuring. Read the full details.
SAIPEC 2026 to Spotlight Nigeria's Oil Licensing Round
The 10th Sub Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) will focus on Nigeria's oil licensing round. Key speakers from across Africa confirmed for the Lagos event in February 2026. Read more for details.
Petrol Prices to Rise as FG Enforces 0.5% Levy
The Federal Government has begun strict enforcement of a 0.5% levy on wholesale petroleum, a cost experts warn will trickle down to consumers. Find out what this means for your pocket.
DAPPMAN Supplies 60% of Nigeria's Petrol, Backs Energy Security
DAPPMAN affirms its members supply 60% of Nigeria's petrol, pledging to sustain this in 2026 to support national energy security amid downstream sector reforms. Read more.
Elumelu's $500M Seplat Deal Signals Bold African Energy Shift
Tony Elumelu's Heirs Energies acquires a 20% stake in Seplat Energy for $500 million. This landmark deal marks a pivotal moment for indigenous participation in Nigeria's oil sector and the rise of Africapitalism. Discover the full story.
Filling Stations Sell Petrol Below Dangote's N739 Price
A price war in Nigeria's fuel market deepens as stations slash petrol prices below Dangote Refinery's N739 benchmark. See the list of stations and the new rates.
Nigerian Car Dealers Turn to Electric Vehicles
Nigerian car dealers report a sharp drop in petrol car sales. The industry is now exploring electric and gas-powered vehicles as the future, despite infrastructure challenges. Read more.
Eterna Plc Opens N21.52bn Rights Issue
Eterna Plc has opened a N21.52 billion rights issue to fund its downstream expansion and strengthen its balance sheet. The offer closes on February 18, 2026. Read the full details.
Warri Monarch Warns Oil Firms Over Community Neglect
Olu of Warri, Ogiame Atuwatse III, warns Chevron and other oil companies that peace is unsustainable without justice after six decades of impoverishing host communities. Read the full story.
MRS Displaces NNPC as Nigeria's Cheapest Petrol Seller
MRS Oil Nigeria, backed by Dangote Refinery, now sells petrol at N739/litre, undercutting NNPC's prices. This marks a major shift in Nigeria's downstream fuel market dominance. Discover the new pricing landscape.
Dangote Refinery Blames Ex-NMDPRA for Petrol Import Spike
Dangote Refinery denies supply breakdown with marketers, accuses former NMDPRA leaders of licensing excessive petrol imports in late 2025. IPMAN supports local refinery capacity.
Group Defends Tinubu's Approval of NNPC Legacy Balance Reconciliation
An advocacy group supports President Tinubu's move to reconcile NNPC's legacy balances, removing $1.42bn and N5.57trn deemed unrecoverable. They call for transparency in Nigeria's energy revenue management.
PETROAN, NNPCL in Talks for Port Harcourt Refinery Takeover
PETROAN confirms discussions with NNPCL to acquire and revive the Port Harcourt Refinery for $2 billion. The move aims to boost local refining and stabilise fuel prices in Nigeria.
Trump Pitches Venezuela Oil to US Majors, Faces Doubts
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'.
Nigeria's Oil Production to Hit 1.8mbpd by Q2 2026
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.
Group Backs Tinubu on NNPC Legacy Account Clean-Up
A public finance group dismisses claims that President Tinubu's approval of NNPC legacy balance reconciliation violated the constitution or hurt state revenues. Get the full details.
Nigeria Gets 24-Hour Unmanned Fuel Stations
A.A. Rano Nigeria Limited unveils automated fuel stations nationwide, partnering with Petrosoft for smart pump tech. Motorists can now refuel and pay instantly, 24/7. Discover how this innovation boosts transparency and efficiency.
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.
PETROAN: How to Lower Fuel Prices in 2026
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.
Oil Price Falls Below Nigeria's 2026 Budget Benchmark
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 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.
Chevron Bids for Sanctioned Lukoil's Foreign Assets
US oil giant Chevron partners with Quantum Capital Group in a major bid for Lukoil's $22bn international portfolio. Read about the deal's timing and geopolitical implications.
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.
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