Nigeria's crude oil production fell to 1.434 million barrels per day (bpd) in August 2025, down by approximately 73,000 bpd from 1.507 million bpd in July. This represents a decline of 4.84 per cent and marks the lowest production level in six months. The August production figure fell below Nigeria's allocation of 1.5 million bpd by the Organisation of Petroleum Exporting Countries (OPEC), …
The National Union of Petroleum and Natural Gas Workers (NUPENG) has vowed to press ahead with its nationwide strike following the breakdown of a conciliation meeting convened by the Minister of Labour and Employment, Muhammad Dingyadi, to resolve the dispute between the union and the Dangote refinery. The meeting, which was held on Monday, ended …
Oil prices rebounded on Monday, climbing more than $1 after last week’s losses, as OPEC+ announced a modest production increase amid concerns over potential new sanctions on Russian crude. The group, which includes OPEC members plus Russia and allies, plans to raise output by 137,000 barrels per day from October, a figure far below earlier …
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that the five per cent surcharge on petroleum products reinstated in the new tax law is aimed at harmonising and providing transparency in the tax system. He said this in a post on Saturday, September 6, while clarifying what is true …
The recent hike in the price of Compressed Natural Gas (CNG) to N380 per standard cubic meter (SCM), from N230, raises concern about the Federal Government's plans to adopt CNG to cushion the impact on transport costs and economic hardship faced by Nigerians. This signifies a 65.22 per cent hike or N150 increase in the …
By Victor Ezeja The proposed return of Petrobras to Nigeria, as discussed during President Bola Tinubu's state visit to Brazil earlier this week, is seen as a significant development with far-reaching implications for Nigeria’s oil and gas industry. This comes five years after it exited joint venture activities in the country. The deal is part of broader …
Nigeri National Petroleum Company Limited (NNPCL) has said nearly all pipeline theft has been eliminated after coordinated efforts by the country's defence and intelligence agencies. Three years ago, as little as 30% of oil sent through some pipelines made it to Nigeria's export terminals, costing the government billions in lost revenue and leading investment to …
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe, has refuted recent allegations claiming that a company was improperly awarded oil blocks just days after its incorporation during the 2024 Oil Block Licensing Round. Komolafe in response to a report suggesting that the NUPRC had violated its guidelines by …
The Nigerian National Petroleum Company Limited (NNPC) Ltd has officially ruled out the sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-graded rehabilitation and retention of the plant. The Group Chief Executive Officer (GCEO) of NNPC Limited, Bashir Bayo Ojulari, announced this at a company-wide town hall meeting on Tuesday at …
Dangote Petroleum Refinery and Petrochemicals FZE has notified the Federal High Court Abuja of its discontinuance of its N100 billion import licence lawsuit against Nigerian National Petroleum Company Limited (NNPCL) and others. The notice of discontinuance dated July 28, 2025, was filed by the refinery’s lawyer, George Ibrahim SAN, Nairametrics reports. “TAKE NOTICE that the …
