Nigeria's Stalled Oil Reserves and Illusion of Abundance
Nigeria's oil reserves have stalled, with only 59 years left, while gas may last 85 years. The country faces a critical need for diversification and investment.
Category : Oil Gas
Petrol Prices Stable at N1,275/L Amid Global Oil Surge
Petrol gantry prices remain at N1,275/L in Nigeria despite global crude oil surpassing $108 per barrel, while diesel and aviation fuel show mixed movements.
Dangote Jet Fuel Cut to N1,650, Retail Still Near N2,000
Dangote Refinery reduced aviation fuel ex-depot price to N1,650 per litre, but airlines still pay up to N2,000 due to logistics, FX, and old stock.
Cooking Gas Prices Near N1,500 per Kg, New Rates Released
Nigerian households face rising cooking gas costs as crude oil prices soar, with retail rates approaching N1,500 per kilogram amid global supply tensions.
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Marketers Oppose Dangote Refinery's Fuel Import License Lawsuit
Petrol marketers reject Dangote Refinery's lawsuit to revoke fuel import licences, warning against monopoly and supply risks in Nigeria's downstream oil sector.
Dangote Refinery vs FG: 5 Key Issues in Petrol Import Battle
A fresh legal battle between Dangote Refinery, the FG, and fuel marketers over petrol import licences reignites debate on Nigeria's downstream petroleum sector.
Brent Crude Hits $111, Fuel Prices May Rise in Nigeria
Brent crude oil surged above $111 per barrel amid Middle East tensions, raising fears of higher petrol prices and transport costs in Nigeria.
Umeh Honours Pinaco Golden Jubilee in Vietnam
Dr. Chris Umeh celebrates Pinaco's 50-year milestone at the 2026 Customer Conference in Vietnam, highlighting JP Batteries' expansion across West Africa.
Petrol Hits N1,413/Litre in Maiduguri, Highest in Nigeria
Petrol prices in northern Nigeria surge to N1,413 per litre in Maiduguri, driven by Middle East tensions and rising crude costs, NMDPRA reports.
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Man Cries Out as Solar Inverter Battery Develops New Problem
A Nigerian man who bought a 2.5kVA solar inverter a year ago cries out as his tubular batteries develop a fresh issue, seeking solutions online.
Dangote Refinery Sues FG Over Petrol Import Permits
Dangote Refinery has taken the Federal Government to court over continued issuance of petrol import licences, challenging Nigeria's fuel import policy amid local refining capacity growth.
Cooking Gas Price May Hit N2,000 Per kg on Supply Crisis
Energy marketers warn cooking gas price could rise to N2,000/kg amid shrinking LPG stocks. NMDPRA says Nigeria has only 13 days of LPG sufficiency.
Dangote Exposes Oil Mafia Fighting His Refinery Project
Aliko Dangote reveals how powerful fuel subsidy beneficiaries tried to block his $20 billion refinery, which is now reducing Nigeria's fuel imports.
Petrol Depot Prices Rise as Global Crude Oil Costs Surge
Depot operators like AP and MRS hike petrol prices to N1,280-N1,290/litre due to global crude volatility, triggering pump price increases and straining Nigerian households.
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Dangote Rejects NNPC's Bid to Increase Refinery Stake
Aliko Dangote reveals NNPC sought to raise its equity in the Dangote Refinery but was declined due to plans for public listing and wider investor participation.
TotalEnergies Reaffirms Inclusive Workplace Commitment
TotalEnergies EP Nigeria restates dedication to safety, competency development, and inclusive workplace, aiming to achieve business objectives and national goals in the oil and gas sector.
Dangote Refinery to Cut Fuel Price Revision Frequency
Dangote Refinery plans to lower the frequency of fuel price changes in Nigeria to stabilize the downstream market, reduce confusion for marketers, and boost confidence.
Petrol, Diesel Prices Crash at Depots Across Nigeria
Depot owners slash petrol and diesel prices in Lagos, Warri, and Port Harcourt despite Brent crude trading above $100 per barrel, signaling increased competition.
Nigeria's Petrol Spend Hits N2tr as Dangote Gets 39.2m Barrels
Nigeria's monthly petrol spending soared to N2.054 trillion in April as Dangote Refinery received 39.2m barrels of crude. Imports fell to 3.7m litres per day, highlighting a shift to local refining.
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New Petrol Prices Hit Nigeria as Depot Rates Rise
Petrol prices rise across Nigeria as depot operators and filling stations adjust rates amid US-Iran tensions affecting global crude oil supply.
Dangote Plans $17 Billion Refinery in Kenya, Seeks Ruto's Support
Nigerian billionaire Aliko Dangote plans to build a $17 billion, 650,000 barrels-per-day refinery in Mombasa, Kenya, pending support from President William Ruto.
Nigeria Fuel Imports Rise as Marketers Receive 164,000MT
Marketers import 164,000MT of petrol and diesel as NMDPRA approves 720,000MT imports, challenging Dangote Refinery's local supply dominance and sparking debate.
Petrol Price Hits N1,300+ Nationwide as NNPC Adjusts Rates
NNPC and other marketers raise petrol prices above N1,300 per litre amid global supply disruptions and rising operational costs, worsening transportation expenses for Nigerians.
Oil Firms Export 80% of Crude Despite Local Refining Demand
Nigeria's oil companies exported nearly 80% of crude output in Q1 2026, despite rising demand from local refineries, as pricing disputes hinder domestic supply.
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Court upholds $100m award against CNPC in OPL 471 case
Federal High Court in Port Harcourt reaffirms $100 million damages against China National Petroleum Corporation in favour of Cutra International over OPL 471 dispute.
NUPENG Demands Transparency in Warri, PH Refinery Revamp
NUPENG calls for transparency, accountability, and timely execution in the Federal Government's deal with Chinese firms to revive Warri and Port Harcourt refineries.
Cooking Gas Price Jumps N100 as Dangote Refinery, Dealers Release New LPG Rates
Nigerian households face another cooking gas price hike as Dangote Refinery and other dealers adjust LPG rates, pushing retail prices up by N100 to N150 per kilogramme.
Dangote Refinery Suspends Petrol Price Hike Amid Falling Oil
Dangote Refinery reverses planned petrol price increase, restoring rate to ₦1,275 per litre as crude oil prices fall sharply, bringing relief to Nigeria's downstream sector.
Dangote Refinery Hikes Petrol Price to ₦1,350 Per Litre
Dangote Refinery increases petrol ex-depot price to ₦1,350 per litre, pushing pump prices toward ₦1,400. Government rules out subsidy return.
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Dangote Refinery Reverses Fuel Price Hike to ₦1,275
Dangote Refinery reversed its ₦75 fuel price hike, returning PMS depot price to ₦1,275 per litre after briefly raising it to ₦1,350.
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