CORAN reveals Nigeria's fuel import costs doubled to N15.4 trillion in 2024, undermining billions in local refinery investments. Urgent policy shift needed to support domestic refining capacity and retain forex.
Global oil prices fall to $61 per barrel due to Venezuela's instability. Analysts warn of further drops below $60 if US tensions persist. OPEC+ pauses production hikes.
US President Donald Trump outlines a timeline for American oil companies to expand operations in Venezuela within 18 months, following the capture of Nicolas Maduro. Details inside.
Ogoni stakeholders commend Magnus Abe and Kenneth Kobani's nominations to NUPRC and NMDPRA boards but insist appointments don't signal oil resumption. They demand environmental cleanup first.
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Dangote Refinery dismisses false shutdown claims, confirms daily production of 50 million litres of PMS and maintains N699/litre price. Read the full details.
NNPC Retail Limited launches a scratch and win promotion with prizes up to N100 million. Learn how to participate and win big until March 2026.
President Bola Tinubu has sent 21 nominees for the boards of NUPRC and NMDPRA to the Senate for confirmation, aiming to strengthen governance and PIA reforms. Read the full list.
President Bola Tinubu has sent 21 nominees for the boards of NMDPRA and NUPRC to the Senate for confirmation. This move aims to advance reforms in Nigeria's crucial oil and gas sector.
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.
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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
Aliko Dangote emerges as a 2025 hero, slashing fuel prices and challenging regulatory corruption. His 'no gree' stance echoes a national demand for accountability and consumer rights. Read the full story.
Tony Elumelu declares Africa's capacity to own and manage its resources as Heirs Energies completes a major $500 million acquisition in Seplat Energy, backed by African banks.
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.
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The NCDMB has launched its 2025/26 Research, Innovation and Technology Challenge, seeking Nigerian solutions for the oil, gas, and energy sectors. Winners get cash, mentorship, and incubation support. Apply now!
President Tinubu cancels $1.42bn NNPC debt. Reps' Agbese links it to CEO Ojulari's transparency and record oil output. Read the full analysis.
PETROAN reports the 2025 price war between Dangote Refinery and marketers led to massive losses for retailers, squeezed profits, and market instability. The group calls for urgent stakeholder dialogue.
Billionaire Tony Elumelu expands his energy empire, acquiring a 20.07% stake in Seplat Energy for $496 million. The deal makes Heirs Energies the largest shareholder and is expected to significantly increase his net worth. Read the full details.
NNPC Limited remitted N12.117 trillion to the Federation Account in ten months, reporting strong revenue and profit growth. Oil production held steady as key gas pipeline projects near completion.
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NNPC Ltd announces N4.36 trillion revenue and N502 billion profit for November 2025, driven by increased oil production. Discover the full financial and operational breakdown.
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.
Heirs Energies, led by Tony Elumelu, has acquired a 20.07% stake in Seplat Energy for $500 million. The deal, backed by Afreximbank, marks a major shift towards indigenous ownership in Nigeria's energy sector. Read the full story.
Tony Elumelu's Heirs Energies acquires a 20.07% stake in Seplat Energy from Maurel & Prom for $500 million, marking a major shift in indigenous ownership of Nigeria's energy assets. Read the full details.
Savannah Energy ends its share buyback, freeing £10m. NIPCO plans to increase its stake to 26.5% via secondary market deals. A new relationship agreement aims to protect minority shareholders. Read the full details.
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Clarification emerges that NNPC's $1.42bn and N5.57tr debt waiver covered only interest and penalties, not core royalties. CHRICED slams the move as reckless and opaque.
Despite rising LPG production, over 20 million Nigerian households rely on firewood and charcoal due to high costs. Experts warn of deforestation and health risks as government targets 5 million cylinders by 2030.
Despite vast gas reserves, soaring LPG prices force Nigerian households back to firewood and charcoal, deepening health risks and accelerating forest loss. Experts warn of a growing energy poverty crisis.
The Nigerian National Petroleum Company Limited has cleared N4.01 trillion in subsidy arrears owed by the FG after FAAC reconciliation. Discover the details and implications for Nigeria's economy.
NNPC launches a formal bid to sell stakes in key oil and gas assets. This strategic divestment aims to attract investors, boost production, and reshape Nigeria's energy sector under the PIA reforms.
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Aliko Dangote's refinery ends Nigeria's fuel import dependence, saving billions in forex and sparking industrial hope. Discover the impact of Africa's richest man.
