While preparing dinner on Friday evening, Madam Juliana Umeh, a mother of three who resides in the Ilasa area of Lagos, suddenly noticed the flame from her blue 12.5kg cylinder gradually dropped and finally stopped. The gas finished in the middle of the cooking. Left with no other option, Mrs Umeh approached a nearby gas …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that over $10 billion in new investments have been unlocked in the Nigerian upstream oil and gas sector signalling a significant resurgence of production activities. The NUPRC Chief Executive, Oritsemeyiwa Eyesan, made this known during the 2026 Oloibiri Lecture and Energy Forum in Abuja on Thursday, …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is set to launch Project NEXUS, a flagship transformation initiative aimed at enhancing regulatory efficiency and positioning Nigeria as a leading energy hub in Africa. The announcement was made by NMDPRA Chief Executive Saidu Mohammed at the 26th Oloibiri Lecture Series and Energy Forum (OLEF) held in …
Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC) Engr. Bashir Bayo Ojulari, has attributed the growth of crude oil production in the country in the last four years to improved security of oil pipelines in the Niger Delta. He said the establishment of the integrated energy security for pipelines in the …
The Dangote Petroleum Refinery has again adjusted its ex-depot fuel prices, reflecting the intense volatility currently gripping the global energy market. Effective immediately, the gantry price for Premium Motor Spirit (PMS), also known as petrol, has been raised to ₦1,275 per litre, while Automotive Gas Oil (AGO), commonly known as diesel, has jumped to ₦1,950 …
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian government to declare a state of emergency on crude oil and gas production in the country as part of efforts to boost the energy self-sufficiency drive. PETROAN National President, Dr Billy Gillis-Harry, who appeared on Channels Television Business Morning on …
President Bola Tinubu has approved a ₦3.3 trillion payment plan to finally settle legacy debts in Nigeria's power sector. The payment plan approval was given under the Presidential Power Sector Financial Reforms Programme. A statement signed by the presidential spokesperson, Bayo Onanuga, on Sunday, April 5, described the approval as a “full and final settlement” …
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to work towards increasing Nigeria’s crude oil production to a 2 million barrels per day (mbpd) target. The minister made the call during a meeting with the NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, at the Federal …
Nigeria has exported the first cargo of its newly introduced Cawthorne crude grade, with approximately 950,000 barrels en route to India's Sikka port. A report by Platts, part of S&P Global Energy, said a spokesperson for the Nigerian National Petroleum Company (NNPC) Limited confirmed the development, saying the shipping was done during the weekend following regulatory approvals …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared that the country's total oil and condensate reserves stand at 37.01 billion barrels as of January 1, 2026, with a reserve life index of 59 years. This means that at the current production level, the oil reserves are expected to last for 59 years. In a statement …
