Nigeria National Petroleum Company Limited (NNPC) has announced the completion of the River Niger crossing of the Obiafu-Obirikom-Oben (OB3) gas pipeline, a project that will unlock a transport capacity of 2 billion standard cubic feet per day (2bcf/d) of gas. NNPC GCEO, Bayo Ojulari, made this known in a statement posted on his X handle on Thursday, …
The United Arab Emirates (UAE) has announced its decision to withdraw from the Organisation of Petroleum Exporting Countries (OPEC) and the wider OPEC+ alliance. The Gulf state made this known on Tuesday, April 28, saying it takes effect May 1, 2026. The decision marks a significant shift in global energy geopolitics, as the UAE was …
As global crude oil prices surge above $100 per barrel following the blockade of the Strait of Hormuz, Nigerian households and businesses are bracing for a prolonged period of economic pain. The Strait of Hormuz, a critical maritime route through which about 20 per cent of the world’s oil and gas supply passes daily, has …
Africa’s richest man, Aliko Dangote, has revealed plans to construct a new 650,000-barrel-per-day (bpd) oil refinery in East Africa, a project that could reshape the region’s energy landscape and challenge the dominance of European and Middle Eastern fuel imports. Dangote made this known on Thursday while speaking during a presidential panel at the “Africa We …
Dangote Group has achieved its first oil from its upstream assets in the Niger Delta, marking its entry into crude production. The company is currently producing 4,500 barrels per day (bpd) from the Kalaekule field on Oil Mining Lease (OML) 72. Vice President of Dangote Group's Oil and Gas Division, Devakumar Edwin, disclosed …
Nigeria is currently ranked among countries with relatively low petrol prices globally. According to GlobalPetrolPrices.com, the average price of petrol, also known as gasoline, around the world as of April 13, 2026, is $USD1.50 per litre. Data published by the oil and gas analytical firm indicates that Nigeria is currently ranked 23rd ($0.90 per litre) …
The daily consumption of Premium Motor Spirit (PMS), also known as petrol, has again dropped in Nigeria even as imports surge by 97 per cent in March. This is according to the latest report from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for March 2026. The NMDPRA Factsheet released on Tuesday shows that …
The failure of the United States and Iran to secure a deal during their peace talks over the weekend in Islamabad, Pakistan, has reignited tensions in the Middle East and sent shockwaves through the global energy market, raising fears of a further fuel price surge in developing nations like Nigeria. The high-level talks in Islamabad, …
Africa’s richest man, Aliko Dangote, is advancing plans to list his oil-refining business across multiple stock exchanges on the continent in what could become a landmark transaction for African capital markets. The proposed share sale for Dangote Petroleum Refinery and Petrochemicals is being structured as a cross-border listing, according to a report by Bloomberg on …
A Turkish drilling ship has docked at the port of Mogadishu ahead of Somalia’s first offshore oil exploration project, marking a major milestone in energy cooperation between Turkey and Somalia. The vessel, named Cagri Bey, arrived in Somali waters on Thursday and berthed at the capital’s port on Friday, according to officials from both countries. …
