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KEY POINTS The African Development Bank, AfDB, has approved a $3.9 million, two-year project to support Nigeria and 12 other African countries in implementing their National Energy Compacts under the …
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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 …