The energy company plans to use proceeds for debt settlement and to pay shareholder dividends Seplat Energy has agreed to sell a 10% working interest in its joint venture assets with the Nigeria National Petroleum Company (NNPC) Limited for approximately $281.6 million. The company disclosed this in a corporate filing with the Nigerian Exchange Ltd …
In a shift from traditional oversight, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared that the nation’s ambitious oil production targets will not be met through merely issuing regulations, but through active partnership with the industry players. At a three-day leadership retreat held at the Isimi Resort in Epe, Lagos, the NUPRC unveiled a …
Fresh data shows bringing petrol into Nigeria now costs more than buying from the local Dangote Refinery, strengthening calls to halt fuel imports The landing cost of imported Premium Motor Spirit (PMS), also known as petrol, has risen above the Dangote Refinery’s gantry price. This was shown in the latest Energy Bulletin released by the …
Supply chain disruption caused by the U.S.-Iran war exposed the fragility of Nigeria’s fuel reserve safety net The global oil market crisis triggered by escalating geopolitical tensions in the Middle East during the first half of 2026 has unleashed a fresh wave of economic hardship across Africa, with Nigeria emerging as the continent's hardest-hit …
Nigeria’s daily crude oil output faces risk of decline following a declaration of force majeure by Esso Exploration & Production Nigeria Limited, an affiliate of ExxonMobil, on exports from its Erha deepwater field. Esso Exploration & Production Nigeria Limited (EEPNL) declared the force majeure due to unexpected damage to the floating buoy that supports export …
The Dangote Petroleum Refinery has rolled out a bulk petrol supply initiative under its "Vision 2030: Accelerating Africa's Industrialisation" agenda. The scheme combines free direct delivery and a 10-day credit facility for qualified high-volume marketers and commercial distributors. In a post on its X handle, the Dangote Group said the offer is available to marketers …
As regulators award new acreage under the Petroleum Industry Act, questions remain over whether infrastructure, investment, and operational realities can deliver on the ambitious 2030 output targets. The 3-Million-BPD Ambition For decades, achieving a three-million-barrel-per-day (bpd) target has seemingly remained elusive in Nigeria’s oil sector as the country’s production has been hindered by years …
The Rural Electrification Agency (REA) has completed a nationwide mapping of Nigeria to identify communities in need of electricity and to strategically guide the deployment of mini-grids. This was the first comprehensive exercise of its kind in Nigeria Managing Director and CEO of Rural Electrification Agency (REA), Dr Abba Aliyu, said that through the mapping, …
After more than a week of rallies, oil prices have fallen below $90 per barrel following the pause in attacks between the United States and Iran over the weekend. The attacks that have lasted for nearly two weeks have led to the collapse of an earlier 60-day ceasefire. The suspension of the latest hostilities has, …
Beyond the Stopgap measure: import surges haven’t relieved pressure on Nigeria's LPG market For Mrs Esther Akpan, who runs a small-scale restaurant in the Ilasa area of Lagos, it is not yet time to return to using cooking gas, despite the slight drop in prices in recent weeks. Mrs Akpan, who has been cooking …
