In the News

KEY POINTS Global oil prices fell sharply as world leaders moved to reassure markets that measures are being prepared to cushion the impact of the ongoing war involving Iran on …

KEY POINTS Nigeria’s average daily consumption of Premium Motor Spirit (PMS), commonly known as petrol, declined to 56.9 million litres per day in February 2026, down from 60.2 million litres …

KEY POINTS The Jos Electricity Distribution Company, JEDC, Plc has unveiled a flexible debt repayment plan designed to help customers gradually settle outstanding electricity bills across its franchise areas. The …

KEY POINTS The Ekurhuleni Metropolitan Municipality in South Africa could face widespread electricity disruptions after its outstanding debt to power utility Eskom surged to more than R3.4 billion, prompting threats …

KEY POINTS Italian energy giant Eni has recorded a significant breakthrough in its offshore exploration activities in Indonesia following the successful drilling of the Maha-3 well in the West Ganal …

KEY POINTS Nigeria’s fragile progress in slowing inflation is facing renewed pressure as a fresh surge in fuel prices spreads across the economy, raising fears that the country could slip …

KEY POINTS The Chief Executive Officer of Dangote Petroleum Refinery & Petrochemicals, David Bird, has reaffirmed the refinery’s readiness to compete in Nigeria’s petroleum market under an import-parity pricing system, …

KEY POINTS The Nigerian National Petroleum Company Limited, NNPC Ltd, recorded a significant drop in revenue in January 2026, with earnings falling by 47 percent to N2.57 trillion, compared with …

KEY POINTS Nigeria’s growing domestic refining capacity may improve energy security and reduce dependence on imports, but it cannot completely shield the country from fluctuations in global fuel prices, according …

KEY POINTS The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has warned that petrol prices in Nigeria could soar to nearly ₦2,000 per litre if the ongoing crisis …