Oil & Gas

KEY POINTS International energy giants Chevron and Royal Dutch Shell are on the verge of finalizing their first large‑scale oil production agreements in Venezuela since a significant political transition in …

KEY POINTS Iran’s Revolutionary Guards have warned that no oil will leave the Middle East if the ongoing attacks by the United States and Israel persist, escalating tensions in an …

KEY POINTS President Bola Ahmed Tinubu has approved a targeted fiscal incentive designed to unlock the long-delayed Bonga Southwest Aparo (BSWA) deepwater oil project, a strategic development expected to attract …

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 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 …