DAPPMAN Supplies 60% of Nigeria's Petrol, Backs Energy Security
DAPPMAN affirms its members supply 60% of Nigeria's petrol, pledging to sustain this in 2026 to support national energy security amid downstream sector reforms. Read more.
Category : Oil Gas
Elumelu's $500M Seplat Deal Signals Bold African Energy Shift
Tony Elumelu's Heirs Energies acquires a 20% stake in Seplat Energy for $500 million. This landmark deal marks a pivotal moment for indigenous participation in Nigeria's oil sector and the rise of Africapitalism. Discover the full story.
Filling Stations Sell Petrol Below Dangote's N739 Price
A price war in Nigeria's fuel market deepens as stations slash petrol prices below Dangote Refinery's N739 benchmark. See the list of stations and the new rates.
Nigerian Car Dealers Turn to Electric Vehicles
Nigerian car dealers report a sharp drop in petrol car sales. The industry is now exploring electric and gas-powered vehicles as the future, despite infrastructure challenges. Read more.
Eterna Plc Opens N21.52bn Rights Issue
Eterna Plc has opened a N21.52 billion rights issue to fund its downstream expansion and strengthen its balance sheet. The offer closes on February 18, 2026. Read the full details.
Warri Monarch Warns Oil Firms Over Community Neglect
Olu of Warri, Ogiame Atuwatse III, warns Chevron and other oil companies that peace is unsustainable without justice after six decades of impoverishing host communities. Read the full story.
MRS Displaces NNPC as Nigeria's Cheapest Petrol Seller
MRS Oil Nigeria, backed by Dangote Refinery, now sells petrol at N739/litre, undercutting NNPC's prices. This marks a major shift in Nigeria's downstream fuel market dominance. Discover the new pricing landscape.
Dangote Refinery Blames Ex-NMDPRA for Petrol Import Spike
Dangote Refinery denies supply breakdown with marketers, accuses former NMDPRA leaders of licensing excessive petrol imports in late 2025. IPMAN supports local refinery capacity.
Group Defends Tinubu's Approval of NNPC Legacy Balance Reconciliation
An advocacy group supports President Tinubu's move to reconcile NNPC's legacy balances, removing $1.42bn and N5.57trn deemed unrecoverable. They call for transparency in Nigeria's energy revenue management.
PETROAN, NNPCL in Talks for Port Harcourt Refinery Takeover
PETROAN confirms discussions with NNPCL to acquire and revive the Port Harcourt Refinery for $2 billion. The move aims to boost local refining and stabilise fuel prices in Nigeria.
Trump Pitches Venezuela Oil to US Majors, Faces Doubts
US President Trump urges oil executives to invest in Venezuela's vast reserves post-Maduro capture, promising security. CEOs remain wary, citing past seizures and calling the nation 'uninvestable'.
Nigeria's Oil Production to Hit 1.8mbpd by Q2 2026
A new report projects Nigeria's oil production could reach 1.8 million barrels per day by Q2 2026, driven by Ogoni fields revival and pipeline security. Discover the key milestones and economic impact.
Group Backs Tinubu on NNPC Legacy Account Clean-Up
A public finance group dismisses claims that President Tinubu's approval of NNPC legacy balance reconciliation violated the constitution or hurt state revenues. Get the full details.
Nigeria Gets 24-Hour Unmanned Fuel Stations
A.A. Rano Nigeria Limited unveils automated fuel stations nationwide, partnering with Petrosoft for smart pump tech. Motorists can now refuel and pay instantly, 24/7. Discover how this innovation boosts transparency and efficiency.
Venezuela Oil Ships Head to US as Storage Nears Capacity
Three Chevron-chartered tankers are transporting Venezuelan crude to the US, as sanctions cause a major storage buildup. Get the latest on the oil shipments and the looming capacity crisis.
PETROAN: How to Lower Fuel Prices in 2026
PETROAN outlines critical steps for cheaper fuel in 2026, citing crude supply and policy stability. Learn about the naira-for-crude policy's challenges and new refinery impact.
Oil Price Falls Below Nigeria's 2026 Budget Benchmark
Global oil prices drop after Trump's Venezuela deal, falling below Nigeria's $64.85 per barrel budget benchmark. This threatens the implementation of the N58.18 trillion 2026 budget. Read the full analysis.
US to Control Venezuela Oil Sales Indefinitely
US Energy Secretary Chris Wright declares indefinite US control over Venezuelan oil sales, aiming to revive production with billions in investment. Details on the plan and its implications.
Chevron Bids for Sanctioned Lukoil's Foreign Assets
US oil giant Chevron partners with Quantum Capital Group in a major bid for Lukoil's $22bn international portfolio. Read about the deal's timing and geopolitical implications.
Venezuela Agrees to Send Millions of Barrels of Oil to US
President Donald Trump announces a major oil transfer deal with Venezuela's interim government. Get the full details on the agreement and its global implications.
Venezuela to Turn Over 30-50 Million Barrels of Oil to US
Former President Trump claims Venezuela's interim government will transfer sanctioned oil to the US, with proceeds controlled by Washington. Details on the plan and regional implications.
N15.4 Trillion Fuel Import Bill in 2024, CORAN Alarmed
CORAN warns Nigeria's heavy fuel import reliance undermines local refiners who invested billions. N15.4 trillion spent on imports in 2024. Urgent policy shift needed to support domestic refining capacity.
Nigeria's Fuel Imports Soar to 1.8mMT, Highest in 12 Months
Nigeria's reliance on imported petrol surges to 1.8 million metric tonnes as local refining falters. New regulators face pressure to fix the oil sector amid a price war. Read the full analysis.
N15.4 Trillion Fuel Import Bill in 2024 - CORAN
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.
Oil Prices Slip to $61 Amid Venezuela Instability
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.
Trump's 18-Month Plan for US Oil in Venezuela
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 React to Abe, Kobani Board Nominations
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.
Dangote Refinery Denies Shutdown, Produces 50m Litres Daily
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 Scratch & Win Promo Offers N100m Prize
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.
Tinubu nominates 21 for oil, gas regulatory boards
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.
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