Dangote Refinery Absorbs 52.6 Million Barrels representing 78% of what was offered by crude producers. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has released its second-quarter (Q2) 2026 report on the enforcement of the Domestic Crude Supply Obligation (DCSO), revealing an impressive 97.4% overall compliance rate as local refineries received 53.7 million barrels of …
Global crude oil prices have risen again as energy markets react to renewed uncertainty surrounding negotiations between the United States and Iran, putting hopes of reopening the Strait of Hormuz in limbo. Brent Crude, the international benchmark, rose to $85.02 per barrel, while West Texas Intermediate (WTI) hit $79.58 per barrel on Monday, August 10, …
President Bola Ahmed Tinubu has continually hammered on his administration ambition to achieve a benchmark of a trillion-dollar economy by the end of the decade. This lofty desire has prepped every agency of government to contribute its own quota to make this ambition a reality. Inside the Council Chamber of the newly renamed General Shehu …
Nigeria is set to attract between $30 billion and $50 billion in investment from 22 major offshore oil and gas projects scheduled to launch between 2026 and 2030. The Commission Chief Executive, NUPRC, Mrs. Oritsemeyiwa Eyesan, stated this in Lagos on Wednesday, August 5, 2026, at the Society of Petroleum Engineers’ Nigeria Annual International Conference …
Dangote Refinery has announced further cut in the ex-depot price of its Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (diesel), signalling relief to consumers as competition intensifies in the domestic downstream petroleum market. According to a post on the company’s social media handle on Wednesday, August 5, the refinery’s ex- …
Sahara Upstream honors late executive with deployment of new vessel, cutting turnaround times and supporting production growth. In a major move to expand its marine logistics capacity, Sahara Upstream has deployed a new 380,000-barrel Medium Range (MR) crude oil tanker, the MT D Adesanya, to boost crude evacuation operations at Oil Mining Lease …
The Nigerian National Petroleum Company Limited (NNPC) sold a total of 136.93 million barrels of crude oil and condensates and generated ₦21.72 trillion in revenue in the first six months (H1) of 2026. These figures are based on analysis of the monthly crude oil and condensate sales and revenues recorded in NNPC’s monthly reports from …
The Nigerian National Petroleum Company Limited (NNPC) reported a profit after tax of ₦535 billion for June 2026, a 15.8% increase from May's ₦462 billion. This figure is contained in the NNPC monthly financial and operations report for the month of June 2026. The figure marks the company's highest monthly profit in 10 months, driven …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled a Gas Swap Framework in a bid to close Nigeria’s domestic gas supply gap. This comes as Nigeria's average Domestic Gas Delivery Obligation (DGDO) performance has risen to 2.05 billion cubic feet (Bcf) daily, year-to-date ending June 2026. The Commission Chief Executive of the Nigerian Upstream Petroleum …
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 …
