KEY POINTS Nigeria’s Bonny Light crude held firm around $67 a barrel on Monday as a wave of renewed optimism swept through global oil markets, driven by hopes that the …
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Markets
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In the NewsMarketsOil & Gas
NNPC Raises Petrol Price to N992 in Lagos as Nigerians Brace for Tougher Times
KEY POINTS Nigeria’s state-owned oil company, the Nigerian National Petroleum Company, NNPC, has raised the pump price of petrol to N992 per litre in Lagos, up from N865, marking yet …
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MarketsOil & Gas
Nigerian Oil and Gas Stocks Rally as NGX Index Nears 2,700 Benchmark on Investor Optimism
KEY POINTS The Nigerian oil and gas sector is enjoying a strong rebound this month, as renewed investor confidence and firm price action in a handful of key stocks lift …
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KEY POINTS Oil prices edged higher on Monday after OPEC+ opted for a smaller-than-expected output hike for November, calming worries of a sharp supply influx but leaving markets cautious about …
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In the NewsMarkets
Cooking Gas Prices Soar to Record ₦25,000 as Supply Crisis Deepens Across Nigeria
KEY POINTS Nigerian households are reeling under a worsening shortage of cooking gas as the price of a 12.5-kilogram cylinder of Liquefied Petroleum Gas (LPG) has climbed to ₦25,000 this …
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KEY POINTS The Dangote Petroleum Refinery, Nigeria’s flagship private downstream asset, has suspended sales of petrol in naira, setting the stage for another round of turbulence in the country’s fuel …
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MarketsOil & Gas
Shell, Agip Secure 12.5% OML 118 Stake as TotalEnergies Exits With Regulator’s Nod
KEY POINTS Nigeria’s upstream regulator has approved the transfer of TotalEnergies’ 12.5% interest in Oil Mining Lease (OML) 118 to two of its long-time partners, Shell Nigeria Exploration and Production …
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In the NewsMarketsOil & Gas
Nigeria Moves to Resolve Oilfield Ownership Disputes With Niger Delta Verification Drive
KEY POINTS Nigeria has launched a sweeping verification exercise of disputed and newly drilled oilfields and gas fields in the Niger Delta, a move aimed at settling long-running ownership disputes …
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KEY POINTS Libya’s National Oil Corporation, NOC, is moving to deepen its collaboration with energy giant Schlumberger as the country looks to stabilize production and expand technical capacity after years …
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KEY POINTS Aliko Dangote isn’t known for understatement. But when the billionaire industrialist declared that his 650,000-barrels-a-day refinery had ended Nigeria’s half-century struggle with fuel queues, it was a statement …