Aradel H1 Revenue Jumps 7x to N2.5trn, Profit Lags
Aradel Holdings' H1 revenue jumped nearly sevenfold to N2.5trn, but after-tax profit only rose to N191bn as costs and taxes soared.
Category : Oil Gas
Ardel posts N753bn pre-tax profit on oil boom revenue
Ardel has announced a pre-tax profit of N753 billion for the fiscal year, driven by record revenue from the oil boom, according to its audited results.
Dangote Free Petrol Delivery in Six States
Dangote Refinery now delivers petrol free to marketers in six states at N1,215/litre, with a 10-day credit facility for orders of 250,000 litres or more.
Diesel Depot Prices Surge as Brent Crude Nears $90
Diesel depot prices in Nigeria climbed to ₦1,650 per litre in Lagos and ₦1,670 in Port Harcourt as Brent crude surged 6.48% to $89.54 per barrel, driven by Middle East tensions, signaling higher pump costs ahead.
Petrol, Diesel Prices Rise Across Nigeria; Dangote Holds Rate
Private depot operators raise petrol and diesel prices across Nigeria amid high global crude oil, while Dangote Refinery retains its N1,215 per litre ex-depot price.
Fresh Scrutiny for Shell Over Leaked Niger Delta Docs
Leaked documents reveal Shell's Niger Delta operations caused severe environmental damage, prompting renewed calls for accountability and compensation.
Imported Petrol N24 Cheaper Than Dangote Refinery
Imported petrol landed at N1,191.16 per litre, undercutting Dangote Refinery's N1,215 price by N24, as global crude oil prices swing sharply amid Middle East tensions.
Nigeria Missing from Top 10 Africa Diesel Prices July 2026
Despite being Africa's top oil producer, Nigeria did not appear among the 10 African countries with the most expensive diesel in July 2026, according to GlobalPetrolPrices.
Oando Blames Sabotage for Bayelsa Oil Spill in June
Oando Plc attributed a 27 June oil spill from its Azuzuama-1 flowline in Bayelsa to third-party sabotage, citing induced corrosion detected during a joint investigation.
House Engages Downstream Operators to Ease Fuel Tensions
The House of Representatives committee on downstream petroleum held consultations with marketers and refiners to reduce tensions, expand domestic refining, and ensure stable, affordable fuel supply across Nigeria.
Africa Upstream Investment Falls to $37bn, Nigeria Dominates
Africa's upstream oil and gas investment fell to $37 billion in 2025, with Nigeria and four other nations accounting for the majority, according to the IEA.
Sunbeth Energies Opens First Self-Service Fuel Station
Sunbeth Energies unveils Nigeria's first self-service filling station in Lagos, letting motorists select fuel, pay, and track litres without attendants, with plans for wider rollout.
Cooking Gas Prices Crash as Imports Surge 1,400%
Cooking gas prices fall across Nigeria after LPG imports surge 1,400% in June 2026, with 6kg cylinders now costing between N7,800 and N9,000.
Nigeria Set for 154M Litres Imported Petrol from 5 Vessels
Nigeria expects 154.2 million litres of imported petrol this week via five vessels arriving Lagos and Calabar, despite increased local refining and Dangote's naira sales.
Petrol Depot Prices Drop Across Nigeria, Cut by Up to N25
Petrol depot prices fell across Lagos, Port Harcourt and Warri by N5 to N25 per litre, with Bulk Strategic, Sigmund, Optima, Matrix and other depots reducing ex-depot loading rates, adding downward pressure on fuel costs.
Strait of Hormuz Ambiguity and US-Iran Truce Collapse
Uncertainty over control of the Strait of Hormuz triggered the collapse of the US-Iran truce, causing a sharp rise in global oil prices, analysts say.
Cooking Gas Prices Crash Across Nigeria as Dangote Cuts Rates
LPG prices fall to N1,200/kg in some areas, with depot rates dropping below N1,000, as supply boost from Dangote and a 1,400% surge in imports eases market pressure.
NCDMB Hails Brentex Petroleum's $50m Steel Pipe Facility
The Nigerian Content Board praised Brentex Petroleum's $50 million steel pipe bending and coating facility at Onne Port, calling it a landmark project that will transform Nigeria's oil and gas logistics.
Oil Hits $100; Nigeria Fuel Costs to Rise
Oil prices hit $100/barrel after Houthi attacks on Saudi tankers. Nigeria faces fuel price hikes despite potential crude revenue gains.
Nigeria to Scrap Electricity Subsidy, Implement Cost-Reflective Tariffs
The Federal Government confirms plans to gradually eliminate electricity subsidies and introduce cost-reflective tariffs, protecting vulnerable households via a proposed Power Consumer Assistance Fund.
150 Firms Start Bidding for Nigeria's Oil Assets
Nearly 150 companies began commercial bidding for Nigeria's oil and gas assets at a conference in Abuja, with 37 of 50 blocks attracting bids.
31 Companies Win 37 Oil Blocks in Nigeria's 2025 Licensing Round
Thirty-one companies won 37 oil and gas blocks in Nigeria's 2025 Licensing Round, with strong interest in frontier basins like Benue Trough and Chad Basin.
Dangote Refinery Disputes NNPC's Crude Supply Claims
Dangote Refinery says NNPC delivered only 3 of 14 expected crude cargoes under the naira-for-crude programme, less than 25%, as petrol prices rise to N2,248 per litre.
NUPRC: Nigeria on Track to Hit 3 Million bpd Oil Target by 2030
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria is on track to achieve its target of 3 million barrels per day (bpd) oil production by 2030, driven by new investments and improved security.
Nigerian Crude Hits 10-Day High Amid US-Iran Hormuz Disruption
Nigerian crude oil prices surged to a 10-day high as US airstrikes on Iranian facilities disrupted shipping through the Strait of Hormuz, raising supply concerns.
Nigeria Cooking Gas Imports Surge 1,400% in June 2026
Nigeria's LPG imports skyrocketed 1,400% to 1.5 KT/d in June 2026, addressing severe shortages and driving price reductions for households.
Dangote Refinery Terminal Hits 1,100 Tanker Calls
Dangote Refinery's offshore terminal has recorded over 1,100 tanker calls since operations began, marking a major milestone in Nigeria's refining capacity.
FG, Dangote Refinery Talks to End Dollar Fuel Sales, Restore Naira
The Federal Government is negotiating with Dangote Refinery to reverse dollar pricing for petroleum products, aiming to restore naira sales through increased crude supply under a naira-for-crude arrangement.
Fuel Importers Face Tough Choices as Dangote Sets Petrol Prices
Nigerian fuel importers struggle as Dangote Refinery caps petrol prices, closing arbitrage and raising freight costs, squeezing profitability.
Dangote Refinery: National Pride, Energy Catalyst - Minister
The Petroleum Minister hails Dangote Refinery as a national pride and catalyst for Nigeria's energy future, boosting local refining and reducing imports.
Page 9 of 29