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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 gov., Sanwo-Olu, others advocate alternative financing as Nigeria’s growth engine at AltBank’s ‘Beyond Interest’ forum
From left): Korede Demola-Adeniyi, Executive Director, The Alternative Bank (AltBank); Babatunde Raji Fashola, former Governor of Lagos State & former Federal Minister of Works and Housing, and Abubakar Suleiman, Non-Executive Director, Sterling Financial Holdings Company Plc at AltBank’s ‘Beyond Interest’…
Diamonds Bijoux Zanzibar to host 2026 World Travel Awards Africa Gala Ceremony
World Travel Awards (WTA) has announced that Diamonds Bijoux Zanzibar will host its prestigious Africa Gala Ceremony on 28 August 2026.WTA was established in 1993 to acknowledge, reward and celebrate excellence across all sectors of the tourism industry.The VIP reception…
Domestic crude oil market suffers glut as refineries turn down 15.64 Mbbls
Domestic refineries in Nigeria absorbed 53.7 million barrels of crude oil and condensate in the second quarter of 2026, as increased local production and stronger implementation of the Domestic Crude Supply Obligation (DCSO) provided refiners with substantial volumes of feedstock….
