KEY POINTS Nigeria’s upstream ambitions received an unexpected lift at the start of December as NNPC E&P Limited, the flagship exploration and production arm of NNPC Limited, pushed its crude …
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Markets
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KEY POINTS Dangote Refinery has trimmed the gantry price of diesel to ₦910 per litre, easing it down from ₦950 and signalling another attempt by the facility to pass on …
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In the NewsMarketsOil & Gas
Oil Holds Steady as Ukraine Targets Russian Pipeline and Peace Talks Falter
KEY POINTS Oil prices steadied on Thursday, with traders weighing Ukraine’s latest strike on Russian energy infrastructure against the reality that diplomatic efforts to halt the war appear to have …
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In the NewsMarketsOil & Gas
Nigeria’s Crude Output Slips as Maintenance Work Slows NNPC’s October Flows
KEY POINTS Nigeria’s crude oil production eased in October as facility maintenance across several offshore assets weighed on output, even as the state oil company posted a sharp rise in …
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In the NewsMarketsOil & Gas
Oil Holds Steady as Peace Talk Prospects Offset Fresh Sanctions Pressure
Oil prices drifted sideways on Thursday, leaving traders to balance the faint promise of movement on peace talks between Russia and Ukraine against the drag of Western sanctions on Moscow’s …
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In the NewsMarketsOil & Gas
NNPCL Posts Record N5.4 Trillion Profit as Revenue Surges on Weaker Naira
KEY POINTS The Nigerian National Petroleum Company Limited, NNPCL, has reported another year of sharp financial growth, declaring a profit after tax of N5.4 trillion for 2024, more than double …
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In the NewsMarketsOil & Gas
TotalEnergies Lifts Stake in Nigeria’s OPL 257 to 90% After Asset Swap with Conoil
KEY POINTS TotalEnergies has strengthened its position in Nigeria’s deepwater portfolio after reaching a new agreement with Conoil Producing Limited that shifts ownership across two offshore blocks. The French energy …
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KEY POINTS Nigeria’s petroleum marketers are considering stepping back from fuel importation after the Dangote Petroleum Refinery took another slice off its ex-depot price, shifting the balance of competition in …
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In the NewsMarketsOil & Gas
Nigeria Moves 12.6 Million Barrels to Local Refineries as Dangote Plant Takes Lion’s Share
KEY POINTS Nigeria has delivered more than 12 million barrels of crude oil to domestic refineries since the start of 2025, a volume that places the Dangote Refinery firmly at …
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KEY POINTS Nigeria’s crude oil output in October reached 1.401 million barrels per day, marginally higher than September’s 1.39 million barrels per day, according to the latest Organisation of Petroleum …