Global crude oil prices have continued to decline, with Brent, the international benchmark, briefly selling at $70 before rising slightly to $71.57 per barrel on Wednesday, July 2, 2026. The U.S. West Texas Intermediate (WTI) fell to $68.44 per barrel, according to Oilprice.com. This is considered the lowest level in months. The primary driver …
Dangote Petroleum Refinery and the Republic of the Congo's national oil company, Société Nationale des Pétroles du Congo (SNPC), have begun discussions on a strategic partnership to strengthen the supply of refined petroleum products and deepen energy cooperation across Africa. The talks took place during a visit by an SNPC delegation to the Dangote Petroleum …
The easing of crude oil prices in the international market has raised expectations of a significant drop in petrol pump prices across retail stations in Nigeria; however, consumers groan over what they consider a “token” adjustment in prices by marketers. Crude oil had surged to a peak of $120 per barrel following geopolitical tensions in …
The Dangote Refinery has expanded its crude sourcing to include cargoes from the United Arab Emirates (UAE), marking a notable shift in its supply chain strategy. According to a report by S&P Global Commodity Insights, the $20 billion refinery recently imported two cargoes of crude oil from the UAE, marking its first-ever procurement of Middle …
Dangote Refinery has further cut its ex-depot price of Premium Motor Spirit (petrol) from ₦1,175 to ₦1,125 per litre, reflecting a ₦50 reduction. This was confirmed in a notice sent by the refinery to its customers, where it indicated that the gantry loading price has been reduced from ₦1,175 per litre to ₦1,125 per …
The Nigerian Content Development and Monitoring Board (NCDMB) and Nigeria LNG Limited (NLNG) have reaffirmed their commitment to deepen collaboration on local content, as the gas giant's Train 7 project reached 90 percent completion and pre-commissioning activities got underway. The renewed commitment was made on Wednesday when NLNG's Managing Director and Chief Executive Officer, Engr. …
The company says claims that its products are shipped to Togo and brought back into Nigeria lack commercial logic and contradict its business objectives. Dangote Petroleum Refinery has debunked allegations that its refined petroleum products are exported to Lomé, Togo, and subsequently re-imported into Nigeria, dismissing the claims as unsubstantiated and commercially illogical. In …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Ministry of Defence have joined forces to secure Nigeria’s oil and gas infrastructure and curb oil theft. Moving beyond traditional military force, the new partnership will focus on non-kinetic interventions, community engagement, and advanced technology to stabilize national oil production. The agreement was solidified during …
Aradel Holdings Plc delivered one of the strongest earnings performances in Nigeria's oil and gas sector in the first quarter of 2026. The company posted a triple-digit growth in revenue, profit and production following the expansion of its asset base. Its revenue surged by 265 per cent to ₦728.5 billion, from ₦199.9 billion a year …
Average daily supply of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, rose to 5,040 metric tons per day (mt/d) in June 2026 even as retail prices remain high above ₦2,000 per kilogramme. According to the latest data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), this reflects an 18.3 percent …
