Oil prices tumble
Nigerian crude falls on renewed US-Iran diplomacy Fresh diplomatic talks between the United States and Iran triggered a sharp decline…
NUPRC defends 2025 oil block award process
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has pushed back against criticism of the 2025 oil and gas licensing round.…
Nigeria earns N24trillion from crude oil exports in six months
Nigeria exported an estimated 182.2 million barrels of crude oil worth N24.02tn in the first half of 2026, as elevated…
Nigeria spearheads drive for Africa’s petroleum pricing index
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has called for the establishment of an African fuel price benchmark.…
Petrol depot prices drop as marketers slash rates
Petrol depot prices declined across major supply centres yesterday as marketers implemented fresh price cuts, signalling increased competition in the…
NLNG generates $149 billion revenue
…Remits $10.8bn tax to Nigeria The Nigeria LNG Limited, NLNG says it has generated $149.6 billion in revenue since it…
FG begins N70bn debt payment to petrol marketers
… As crude prices crash to $88 per barrel Federal Government has commenced the payment of outstanding debts estimated at…
FG to generate N353 bn as signature bonus from oil block winners
The Federal Government could generate about N353 billion from signature bonuses payable by successful bidders in the 2025 oil block…
Nigeria’s petrol consumption drops 15.7% to 4.2bn litres amid high cost
Nigeria’s total petrol consumption dropped from 5.07 billion litres in Q1 to 4.27 billion litres in Q2 2026, representing a…
SERAP sues NNPC over failure to account for N211 trillion oil money
The Socio-economic Rights and Accountability Project (SERAP) has sued the Nigerian National Petroleum Company Limited (NNPCL) at the Federal High…