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Economic reforms must produce investor confidence, TotalEnergies tells Nigeria
Nigeria’s ongoing economic reforms must move beyond policy announcements to deliver the stability, predictability and investor confidence required to unlock fresh capital for the oil and gas industry, TotalEnergies Exploration and Production Nigeria Limited (TEPN) has said. Country Chair and…
FG returns to crude oil swap as fuel prices defy DCSO, Naira-for-crude objectives
The Federal Government is moving to revive a crude oil swap arrangement with domestic refiners as part of a renewed effort to contain escalating fuel prices that have pushed road transportation, airfares and the broader cost of living beyond the…
No respite for fuel consumers as US-Iran ceasefire ends in escalation
The worsening impasse over the Strait of Hormuz, coupled with renewed attacks around the Red Sea, is threatening to keep global oil and petroleum-product prices elevated, with potentially severe consequences for fuel consumers in Nigeria despite the country’s growing capacity…
PETROAN demands binding commitment, consequences on refinery rehab
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government and the Nigerian National Petroleum Company (NNPC) Limited to move beyond assurances and memoranda and commit the Port Harcourt and Warri refineries to a binding,…
Nigeria maintains OPEC quota despite 4% July production dip
Nigeria sustained crude oil production above its OPEC quota in July 2026 despite a 4 per cent month-on-month decline attributed largely to operational disruptions at the Erha and Akpo fields. Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed…
Nigeria pushes unified regional market for energy security
The Federal Government has called for a unified regulatory framework and harmonised operating rules, technical standards and market procedures across West Africa, arguing that deeper regional integration would improve efficiency, attract investment and facilitate cross-border petroleum trade. Commission Chief Executive…
FG floats fiscal incentives for deepwater petroleum projects
The Federal Government has approved a new fiscal framework for petroleum investment incentives aimed at unlocking up to $50 billion in investments and reviving major deep offshore oil and gas developments that have remained stalled for years. The reform comes…
NLNG: Turning flares to wealth, shrinking industry’s footprint on environment
Nigeria’s oil and gas industry has long been judged by the volume of hydrocarbons extracted and exported, but the more consequential measure of its value to the country is increasingly the economic, social and environmental footprint it leaves behind. By…
Dangote Refinery: Middlemen driving up local crude prices, undermining DCSO
The Dangote Petroleum Refinery and Petrochemicals has alleged that the involvement of middlemen in the domestic crude oil market is driving up the cost of Nigerian crude and undermining the objectives of the Federal Government’s Domestic Crude Supply Obligation (DCSO)…
Lagos, Rivers, FCT top list for Nigeria’s N4.52trn domestic debt in Q1 2026
Debt Management Office (DMO) has disclosed that the states of Lagos and Rivers, as well as the Federal Capital Territory (FCT) jointly account for 43.27 per cent of the country’s total N4.52 trillion debt stock in Q1 2026. According to…
