OML 30 Sees Rising Production After Major Restructuring
Heritage Energy says years of restructuring and investment in OML 30 are now yielding rising production and stronger reserves. The firm prioritized long-term stability over short-term gains.
Category : Search result: oil exploration Nigeria
Nigeria ships 33.2m barrels of crude to U.S. in eight months
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.
Dangote: Don't Pay Over N739 for Petrol, Use Hotline
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.
FIRS Hits ₦22.59tn Revenue, New Tax Laws Reshape System
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 Sells Fuel at N739 via MRS Stations
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.
Indigenous Firms Control 50% of Nigeria's Oil, Gas Output
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.
Dangote, Others Honoured in Downstream Petroleum Awards
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.
Civil Society Commends NNPC's Ojulari for Oil Sector Turnaround
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.
Venezuela Faces Deep Crisis as US Tightens Oil Blockade
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.
Trump Announces Naval Blockade Against Venezuela
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 rigs stuck at 41 amid OPEC expansion
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.
Trump Orders Naval Blockade of Venezuela Oil Tankers
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.
Golden Terra Oil Voted Nigeria's Top Healthy Cooking Oil
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 Oil Block, Halt to License Bids
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.
PENGASSAN warns of oil sector brain drain over low pay
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's ₦5.4trn Profit Shows Impact of Reforms
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 Group GETI Praises NUPRC's $10bn Licensing Round
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.
NUPRC's $10bn Licensing Round Hailed as Global Transparency Model
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 Grows 3.98% in Q3 2025
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.
TotalEnergies Sells 40% Nigerian Offshore Stake to Chevron
TotalEnergies divests 40% stake in two Nigerian offshore licences to Chevron, forming a new joint venture to accelerate exploration in the West Delta basin. This marks a strategic realignment amid Nigeria's push for new oil investments.
Pacific Island Office Aids Sanctions-Busting Oil Smuggling
A beachside office in the Cook Islands is being used by dozens of tankers to smuggle Russian and Iranian oil, undermining Western sanctions. New Zealand expresses alarm. Read the full investigation.
Nigeria's GDP Hits 3.98% in Q3 2025
Nigeria's economy expanded by 3.98% in Q3 2025, fueled by strong performances in Agriculture, ICT, and Finance. Get the full breakdown of the NBS report and what it means for the nation's growth trajectory.
Nigeria eyes $10bn from 50 oil blocks lease
Nigeria's NUPRC launches 2025 oil licensing round for 50 blocks, aiming to raise $10bn and boost output by 400,000 barrels per day. Discover the transparent bidding process.
TotalEnergies Sells Nigeria Offshore Stake to Chevron
French oil giant TotalEnergies sells a 40% stake in Nigerian offshore exploration licences to Chevron subsidiary. Deal aims to develop new opportunities in Nigeria's oil sector.
TotalEnergies Sells Nigeria Offshore Stake to Chevron
French oil giant TotalEnergies sells a 40% stake in Nigerian offshore exploration licences to Chevron. The deal aims to derisk and develop new opportunities in Nigeria's oil sector. Full details inside.
OPEC Keeps Nigeria's Oil Output at 1.5m bpd to 2026
OPEC confirms Nigeria's oil production quota remains at 1.5 million barrels per day until December 2026 to ensure global market stability. Read the full details.
Bakare: Trump's Nigeria CPC Designation Driven by Oil Interest
Pastor Tunde Bakare claims President Trump's 'Country of Particular Concern' label for Nigeria aims to access its oil wealth, not protect Christians. He urges Tinubu's government to negotiate a strategic deal.
OPEC+ Pauses Oil Output Hikes Until March 2026
OPEC+ reaffirms plan to maintain current oil production levels until March 2026 and agrees on a new capacity assessment mechanism. Learn how this decision impacts global oil markets.
OPEC+ Likely to Maintain Current Oil Production Levels
OPEC+ ministers are expected to keep oil output unchanged in Sunday's online meeting amid price uncertainty. Analysts predict no major market changes as group watches Ukraine talks.
OPEC+ Expected to Maintain Current Oil Output Levels
OPEC+ ministers are expected to maintain current oil production levels in their upcoming online meeting. Analysts cite market uncertainty and Ukraine conflict impacts on prices. Read more.
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