West Africa: Nigeria's Crude Exports Hit N12.8tn, Oil Trade Drives Q3 External Balance

Nigeria's crude oil exports climbed to N12.81 trillion in the third quarter of 2025, reaffirming the commodity's dominance in the country's external trade and anchoring a strong… Read more »

Nigeria: Senate Endorses $60 Oil Benchmark, Crude Price Falls to $59/Barrel

The Senate yesterday approved some far-reaching recommendations of its Committee on Finance on the 2026-2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper… Read more »

Nigeria: MTEF/FSP - Senate Backs Lower Oil Benchmark, Approves N54.46trn 2026 Spending Plan to Steady Economy

The Senate on Tuesday approved far-reaching recommendations of its Committee on Finance on the 2026-2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP),… Read more »

Nigeria: Alleged Corruption - Dangote Drags NMDPRA CEO Farouk to ICPC

The Chairman of Dangote Group, Aliko Dangote, on Tuesday dragged the Managing Director (MD) and Chief Executive Officer (CEO) of the Nigerian Midstream and Downstream Petroleum… Read more »

Nigeria: 2025 Licensing Round - Again, NUPRC Pledges Openness, Says Human Interference Minimal

Komolafe says corruption danger to Nigeria's growth, prosperityAdefope-Okojie: NUPRC is gatekeeper of Nigeria's wealth Read more »

Nigeria: NMDPRA CEO Must Be Probed, Prosecuted for Graft, Economic Sabotage - Dangote

President of Dangote Industries Limited, Aliko Dangote, yesterday, doubled down on his criticism of the regulator of the Nigerian downstream oil sector, calling for an… Read more »

Nigeria: In Historic Move, Govt Unveils Nigeria's Gas Trading, Payment System

In a landmark step aimed at modernising Nigeria's gas industry, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) yesterday launched the country's first… Read more »

Nigeria: Dangote Refinery Raises in-Country Petrol Supply By 5.5m Litres Daily Amid 11.48m Deficit

The Dangote Refinery raised in-country petrol supply by about 5.5 million litres per day in November, up from 18.03 million litres in October to 23.52 million in November, despite… Read more »

Nigeria: Oil Hovers Near Two-Week Highs At $63.84/Barrel

Oil prices hovered at two-week highs yesterday, as investors expected a likely U.S. Federal Reserve interest rate cut this week to lift economic growth and energy demand, while… Read more »

Nigeria: NNPC E&P Hits Record 355,000 Bpd Crude Oil Production

The Nigerian National Petroleum Company Limited (NNPC Ltd) yesterday revealed that its subsidiary, NNPC Exploration and Production Limited (NEPL) has recorded its highest oil… Read more »

Nigeria: Global Upstream Oil Capital Expenditure to Hit $504bn in 2026 - Report

Global Exploration and Production (E&P) Capital Expenditure (CAPEX) has been projected to reach $504 billion by 2026, with Africa contributing about $41 billion, driven by… Read more »

Nigeria: After Nmdpra Report, Dangote Refinery Says It Can Supply 1.5bn Litres of Petrol Monthly

Figure represents about Nigeria's full consumption in 30 days Read more »

Nigeria: OPEC Agrees to Leave Oil Output Unchanged, Brent Down 15 Percent

The Organisation of Petroleum Exporting Countries (OPEC) yesterday agreed to leave oil output levels unchanged for the first quarter of 2026 at its meetings, as the group slowed… Read more »

Nigeria: TotalEnergies Announces Plan to Sell 40% of Nigeria's Assets to Chevron

TotalEnergies yesterday announced that it planned to sell a 40 per cent stake in two offshore exploration licenses in Nigeria to Chevron in a move aimed at strengthening… Read more »

Nigeria: NUPRC Targets $10bn Investment, Lists 50 Oil, Gas Blocks in New Licensing Round

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday kicked off the 2025 oil and gas licensing round, announcing that it is targeting $10 billion in investment tied… Read more »

Nigeria: Lokpobiri - Era When Oil Licenses Were Treated As Souvenirs Over

Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has declared that the era when oil licenses were treated as souvenirs is over in Nigeria, spotlighting… Read more »

Nigeria: NNPC, Heirs Energies Double Gas Output, Add Over 135 Mmscf/D to Domestic Supply

The NNPC/Heirs Energies Joint Venture (JV) has announced a major breakthrough with the innovative, rigless recompletion of a key non-associated gas well in oil mining lease (OML)… Read more »

Nigeria: Deal With Conoil Takes TotalEnergies' Opl 257 Stake to 90 Percent

French oil giant, TotalEnergies has signed agreements with its long-standing partner, Conoil Producing Limited to acquire a 50-per cent operated interest in the Oil Prospecting… Read more »

Nigeria: NNPC Releases 2024 Audited Financial Statement, Declares N5.4 Trillion Profit, N45.1tn Revenue

The Nigerian National Petroleum Company Limited (NNPC Ltd.) yesterday released its audited financial statement for the full year ended 2024, reporting a Profit After Tax (PAT) of… Read more »

Nigeria: After Winning Two Oil Blocks in 2024, Total Signals Interest in Fresh Licensing Round

After winning two oil and gas blocks at the mini-bid round conducted last year, French energy major, TotalEnergies, has again signalled its strong interest in participating in the… Read more »

Nigeria: Suspension of 15 Percent Duty On Imported Petrol Products

- Canvasses reinstatement Read more »

Nigeria: NMDPRA - We Will Not Allow Cartels Take Over Downstream Petroleum Sector

*Says FCCPC confirms no indication Dangote tending towards cartelisation Read more »

Nigeria: NNPC Launches Health Insurance for Filling Station Attendants Nationwide

The Nigerian National Petroleum Company Limited (NNPC Ltd) has launched a health insurance scheme for service attendants across its petrol stations nationwide. Read more »

Nigeria: Petroleum Ministry Moves to Fully Automate Official Activities

The Ministry of Petroleum Resources has said that it has taken another major step in its digital transformation journey with the successful completion of a two-day presentation… Read more »

Nigeria: Decade of Gas - FG Restates Investment in 215 Projects Exceeded $8bn in 18 Months

The federal government has reiterated that Nigeria's 'Decade of Gas' programme spanning 2021-2030 has so far unlocked about 215 strategic upstream and midstream gas projects worth… Read more »