KEY POINTS Nigeria’s crude oil reserves fell slightly to 37.01 billion barrels as of January 1, 2026, down from 37.28 billion barrels recorded a year earlier, according to the Nigerian …
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In the NewsOil & Gas
Nigeria’s Crude Oil Export Earnings Fall to $31.54bn in 2025 Despite Higher Production
KEY POINTS Nigeria earned $31.54 billion from crude oil exports in 2025, according to data released by the Central Bank of Nigeria (CBN). The figure represents a 14.41 percent decline …
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KEY POINTS Global crude oil prices closed the week ending March 20, 2026, at $112 per barrel, marking an 8.22% weekly increase. Brent Crude Futures have climbed more than 53% …
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In the NewsMarkets
Chevron Surpasses $400 Billion Valuation as Oil Rally Drives Stock Higher, HSBC Upgrades to Buy
KEY POINTS Shares of Chevron have pushed the company’s market capitalization above $400 billion for the first time, placing the oil major among the 20 most valuable publicly traded companies …
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In the NewsOil & Gas
Tinubu Approves Fiscal Incentive to Unlock $20bn Bonga Southwest Aparo Deepwater Project
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 …
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KEY POINTS Dangote Petroleum Refinery & Petrochemicals (DPRP) has strongly refuted reports suggesting that it imports finished petroleum products, describing the claims as false, misleading, and rooted in a fundamental …
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KEY POINTS Global oil prices held steady on Monday, remaining above Nigeria’s 2026 budget benchmark of $64.85 per barrel, as supply disruptions and rising geopolitical tensions in the Middle East …
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In the NewsMarketsOil & Gas
Nigeria’s Non-Oil Exports Climb to Record N9.2 Trillion as Naira Shift Reshapes Trade
KEY POINTS Nigeria’s non-oil exports rose to an unprecedented N9.2 trillion in the first nine months of 2025, underscoring how currency reforms and pricing dynamics are altering the country’s external …
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In the NewsOil & Gas
Oil Slips as Hopes for Russia–Ukraine Breakthrough Fade and Supply Fears Stir
KEY POINTS Oil prices drifted lower on Tuesday as traders stepped back to reassess the fragile mood around the Russia–Ukraine peace track, while fresh signals of rising stockpiles and wider …
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KEY POINTS The Nigerian National Petroleum Company Limited, NNPCL, is confronting an increasingly heavy debt burden, with crude-backed loan obligations now estimated at N8.07tn. The figure, drawn from the company’s …
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