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. …
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 …
