KEY POINTS Dangote Petroleum Refinery has reaffirmed its ability to meet and surpass Nigeria’s daily fuel consumption, announcing it can supply up to 75 million litres of Premium Motor Spirit …
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KEY POINTS The Socio-Economic Rights and Accountability Project, SERAP, has filed a lawsuit against the Nigerian National Petroleum Company Limited, NNPCL, over its alleged failure to account for N22.3 billion, …
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In the NewsMarketsOil & Gas
Marketers Warn Petrol May Hit N1,000 per Litre as Global Crude Prices Surge
KEY POINTS International oil benchmarks surged past $70 per barrel this week, with Brent crude reaching $70.71 and US West Texas Intermediate hitting $65.42. By Friday, prices climbed further to …
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KEY POINTS ExxonMobil has reported a decline in its fourth-quarter earnings, blaming weaker crude oil prices for offsetting gains recorded from higher production volumes. The US energy giant posted profits …
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In the NewsOil & Gas
NNPC Unveils Gas Master Plan 2026 to Drive Industrialisation and Energy Security
KEY POINTS The Nigerian National Petroleum Company Limited, NNPC Ltd, has launched its Gas Master Plan 2026 (NGMP 2026), a new roadmap aimed at repositioning Nigeria’s gas industry as a …
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KEY POINTS The Federal Government has reduced entry costs for Nigeria’s latest oil licensing round as part of efforts to deepen transparency, stimulate production, and draw fresh investment into the …
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In the NewsMarketsOil & Gas
Nigerian Crude Approaches $70 as Fears of Possible US Strike on Iran Push Oil Prices Higher
KEY POINTS Crude oil prices climbed sharply on Thursday, extending gains for a third consecutive session, as growing fears of a potential US military strike on Iran heightened concerns about …
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KEY POINTS Nigeria’s crude oil exports are projected to fall by about 14 per cent in March, with scheduled loadings for four major crude grades estimated at roughly 793,000 barrels …
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Energy TransitionIn the News
South Africa Approves 35% Power Tariff Cut for Struggling Ferrochrome Smelters
KEY POINTS South Africa’s energy regulator has approved an application by state-owned power utility Eskom to reduce electricity tariffs by 35 per cent for two distressed ferrochrome producers battling high …
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Energy TransitionIn the News
Nersa Queries Eskom’s Smelter Tariff Relief Plan as Funding Gap and Legal Hurdles Loom
KEY POINTS Members of South Africa’s energy regulator, the National Energy Regulator of South Africa, Nersa, have expressed uncertainty over Eskom’s request for an interim electricity tariff for Samancor and …