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.
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.
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.
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.
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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
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 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%.
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.
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.
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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.
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.
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
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 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.
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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 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 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.
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 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.
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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.
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 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.
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.
Nigeria's oil sector leaders commit to 3 million barrels per day production but stress reducing high costs via technology and efficiency at SPE forum.
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ExxonMobil signals potential $24 billion investment in Nigeria's deepwater oil, focusing on Bosi field development with new FPSO unit and pipelines, marking 20 years of Erha project.
Private depot owners have reduced petrol prices across Nigeria to compete with Dangote Refinery, with ex-depot rates now ranging from N1,210 to N1,240 per litre. This price war is expected to benefit consumers in the coming days.
The Arewa Youth Consultative Forum endorses the National Assembly's move to extend Tantita Security Services' pipeline surveillance contract, citing reduced vandalism and economic benefits.
Stakeholders advocate for strategic partnerships between host communities, oil companies, regulators, and government to implement the Petroleum Industry Act effectively, emphasizing collaboration for inclusive growth and sustainability in Bayelsa State.
NNPCL links strengthened pipeline security to a rise in crude oil production to 1.71mbpd in 2025 and renewed investor confidence, despite vandals using advanced tactics like CCTV and missile launchers.
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The 25th NOG Energy Week in Abuja from July 5-9, 2026, will gather global stakeholders to discuss boosting investment, strengthening infrastructure, and enhancing energy resilience in Nigeria and Africa.
