The collapse of the US-Iran ceasefire on Wednesday, July 8, has raised fresh tensions in the Middle East and swiftly caused a return of volatility in global energy markets. This has seen Brent crude surging from about $71 earlier in the week to almost $80 per barrel. According to market data published by Oilprice.com, …
The drop in global crude oil prices in recent weeks has triggered calls for a commensurate adjustment of fuel pump prices across Nigeria. This comes as retail prices of Premium Motor Spirit (PMS), also known as petrol, remain relatively high, currently trading between ₦1,155 and ₦1,300 per litre, sparking debates about the sustainability of the …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commended ExxonMobil for investing $1 billion in Nigeria’s Usan Infill Project, a bold move aimed at boosting Nigeria's oil production capacity. The commitment was announced on Wednesday at the 25th NOG Energy Week Conference by Jagir Baxi, Managing Director of ExxonMobil affiliates in Nigeria. This marks the …
Dangote Petroleum Refinery has rolled out a major direct distribution strategy, providing free petrol delivery to six select states across Nigeria. In a statement via its X handle on Wednesday, the $20 billion refinery indicated that the free delivery scheme will start in Lagos, Ogun, Rivers, Kaduna, Abuja and Delta. It added that the scheme …
The Federal Government’s scheduled evacuation of 270 stranded Nigerians from South Africa has been delayed due to a fault detected in the Air Peace aircraft designated for the operation. According to Kimiebi Ebienfa, the spokesperson for the Ministry of Foreign Affairs, pre-flight safety checks in Johannesburg revealed cracks on the cockpit windscreen of the aircraft. …
The Works Minister says the Coastal Highway is not responsible for Lagos flooding Minister of Works, David Umahi, has urged Lagos residents to stop dumping refuse in drainage channels, insisting that it contributes significantly to flooding in parts of the state. The minister firmly denied that the Lagos-Calabar Coastal Highway is responsible for the …
The federal government convened a meeting on Monday with key stakeholders in the downstream oil and gas industry, including Dangote Refinery, regulatory bodies, and major oil marketers, to negotiate a reduction in the pump price of petrol nationwide and ensure fairer pricing for Nigerian consumers. The meeting, held at the Nigerian Midstream and Downstream Petroleum …
The Federal Government has announced plans to evacuate another batch of 270 Nigerians from South Africa on Wednesday, July 8, 2026, following renewed xenophobic tensions in the country. The returnees are expected to arrive at the Murtala Muhammed International Airport, Lagos, on Wednesday morning aboard an Air Peace flight chartered by the Federal Government for …
The federal government recorded a drop in its electricity subsidy payment in the first quarter of 2026 amid persistent blackouts. A report released by the Nigerian Electricity Regulatory Commission (NERC) shows that the federal government incurred a total electricity subsidy obligation of ₦358.32 billion in the first quarter (Q1) of 2026, down from ₦418.79 billion …
Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPC), Engr. Bayo Ojulari, has said efforts are being made to expand the capacities of the Warri and Port Harcourt refineries into the petrochemicals value chain for profitability. Ojulari stated this during a visit to the Warri Refining and Petrochemical Company (WRPC), where he …
