Political upheaval in Venezuela could flood oil markets, slashing prices and creating a $10 billion shortfall in Nigeria's 2026 budget. Experts warn of severe fiscal strain and pressure on the Naira. Read the full analysis.
Geopolitical shifts in Venezuela could crash oil prices, threatening Nigeria's N58.18 trillion 2026 spending plan and naira stability. Experts warn of a potential $10.24 billion revenue shortfall.
Following the capture of Venezuelan leader Nicolás Maduro, US President Donald Trump has announced plans for American firms to develop Venezuela's vast oil reserves. Experts warn the plan faces massive hurdles and could take a decade. Read more on the imp
Economist Kalu Aja warns US intervention in Venezuela may flood oil market, pressuring prices and jeopardising Nigeria's $64 per barrel 2026 budget benchmark. Read the full analysis.
Minister Heineken Lokpobiri declares 2025 a successful year for Nigeria's oil sector, driven by reforms, new investments, and strengthened local content. Read the full report on the industry's progress and 2026 outlook.
Ghana's Tema Oil Refinery is back online after years of inactivity, operating at 28,000 bpd. This could reduce its reliance on imports from Nigeria's Dangote Refinery, its top 2025 supplier. Explore the shifting energy dynamics in West Africa.
PETROAN projects 850,000 bpd from new refineries but slams N11.35tr waste on state plants. Read the 2026 outlook for Nigeria's oil sector.
Nigeria's current account surplus dropped sharply to $3.42bn in Q3 2025, a 41% decline. Explore the CBN data on oil exports, remittances, and rising external obligations shaping the nation's balance of payments.
Nigerian Army's 6 Division, in a sustained operation, has arrested 19 suspects and dismantled 22 illegal refining hubs in the Niger Delta, recovering over N150 million worth of stolen crude. Read the full report on the crackdown.
Nigeria strengthens its role as the top African crude oil supplier to the United States, exporting 33.23 million barrels worth $2.57 billion from January to August 2025. Discover the economic impact and the role of Dangote Refinery.
Aliko Dangote directs Nigerians to buy fuel at the new N739/litre price. His refinery launches a hotline to report overcharging stations and warns against artificial scarcity. Read more.
Nigeria's FIRS closes 2025 with a record ₦22.59tn collection, driven by landmark tax reforms and technology. Discover how new laws and digital systems are redefining revenue generation for 2026.
Dangote Refinery begins nationwide PMS sales at N739 per litre through MRS stations, warns against artificial scarcity, and urges Nigerians to report non-compliance for economic relief.
PETROAN endorses Nigeria's 2026 budget, citing realistic oil targets. It urges transparent privatisation of state refineries by Q1 2026 and highlights security, host communities, and regulatory funding as key to success.
The Independent Petroleum Producers Group (IPPG) announces indigenous firms now account for over 50% of Nigeria's crude oil and gas production. Discover the impact on energy security and sector growth.
Petroleumprice.ng honours Aliko Dangote, MRS Oil, Rainoil, and others in its first industry awards. Winners were chosen via a hybrid model of public votes and expert judges. Read the full list.
A civil society coalition has lauded NNPC Ltd's CEO, Bashir Bayo Ojulari, for transformative leadership that increased crude production to a 36-year high of 355,000 bpd and drove record profits. Read the full appraisal.
A new US blockade on Venezuelan oil shipments could slash production and halve exports, pushing the economy deeper into crisis. Experts warn of severe impacts.
US President Donald Trump announces a maritime blockade on Venezuela, demanding the return of oil and land he claims were stolen. Get the full details on this escalating crisis.
Nigeria's oil rig count remained flat at 41 in November, unchanged from 2024, while OPEC nations boosted activity by 7%. Discover the structural challenges holding back Africa's top producer.
US President Donald Trump announces a total blockade of sanctioned Venezuelan oil vessels, escalating tensions. Learn the details and potential impact on the global oil market.
Aliko Dangote dismisses rumours of US President Trump's opposition to his refinery, revealing it buys 100 million barrels of crude annually from America. Get the full story.
Nigerian consumers have voted Golden Terra Soya Oil as the Most Preferred Healthy Cooking Oil at the 2025 Consumer Value Awards. Discover why 72% chose this heart-friendly brand.
Ogoni youths demand an oil block and halt to ongoing bids, insisting on equity and inclusion before resuming oil production in Ogoniland after 30 years.
Dangote Refinery reduces diesel price to N910 per litre, a 4.21% drop, offering relief to Nigerian industries and transport ahead of Christmas. Driven by global crude trends and improved NNPC supply.
PENGASSAN warns Nigeria's oil sector faces a severe brain drain due to low wages and economic hardship. Union President Festus Osifo urges immediate action to close the wage gap and retain skilled workers.
NNPC Limited's record ₦5.4 trillion profit for 2024 is hailed as proof of successful reforms under Bayo Ojulari. Discover how operational discipline and commercial changes are reshaping Nigeria's oil and gas sector.
UK's GETI commends NUPRC for transparent $10bn oil licensing round. Digital portal for 50 blocks aligns Nigeria with global best practices, boosting investor confidence. Read more.
UK-based GETI commends NUPRC's digital licensing portal, projecting $10bn investment. A new benchmark for Africa's oil sector under Engr. Gbenga Komolafe's leadership.
Nigeria's economy expanded by 3.98% in Q3 2025, with services and agriculture leading growth. The non-oil sector remains a key driver. Discover the full breakdown and what it means for the nation's economic outlook.