The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called for a reduction in petrol prices to reflect the recent drop in global crude oil costs. Brent crude oil fell to about $78 per barrel. This followed a ceasefire agreement between the U.S. and Iran, which is expected to normalize oil exports through …
The average daily supply of Automotive Gas Oil (AGO), commonly known as diesel, rose by 84.3 per cent to 18.8 million litres per day (ML/D) in May from 10.2 ML/D in April 2026. According to the latest data released by the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA), there was zero import of diesel as …
The recent drop in global crude oil prices has triggered a fresh wave of competition in Nigeria’s downstream petroleum market, as Dangote Petroleum Refinery and other major marketers have announced lower prices for Premium Motor Spirit (PMS), commonly known as petrol. The sudden drop in global crude prices below $80 per barrel, primarily driven by …
Nigeria's natural gas production rose to 7.93 billion cubic feet per day (bcf/d) in May 2026, marking a modest 0.63% year-on-year increase from the 7.88bcf/d recorded in May 2025. In The figures reveal a significant shift in gas utilisation patterns, with domestic market sales rising to 2.18bcf/d while export sales dropped sharply from 4.13bcf/d to …
There are concerns that the growing cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, is threatening efforts to promote clean energy adoption in Nigeria as households increasingly turn to cheaper but less environmentally friendly alternatives for their daily cooking needs. The price of cooking gas has more than doubled in the last …
Nigeria continued its upward trajectory in crude oil production in May 2026, exceeding the quota assigned by the Organisation of Petroleum Exporting Countries (OPEC) for the first time in 11 months. According to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the country’s crude oil production averaged 1,530,354 (1.53 million) barrels per day. …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that submission of technical and commercial bids for the 2025 oil licensing round will close on Friday, June 12, 2026. The Commission made this known in a statement released on Tuesday, June 9, via its official X handle, stressing that the move is in line with …
As the global community marks the World Environment Day 2026, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reiterated its commitment to ending gas flare by 2030 and 60 per cent reduction of Methane by 2035. In a statement released on Friday, the Commission said the country has recorded a significant reduction in routine gas …
In a major breakthrough for the African energy sector, the Dangote Petroleum Refinery has surpassed its nameplate capacity, ramping up its crude oil processing capacity to 700,000 barrels per day (bpd). The milestone, confirmed during a recent performance test conducted by the facility’s Process Licensors, means the refinery has officially surpassed its initial nameplate capacity …
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has called for the urgent strengthening of gas distribution networks across the country, warning that Nigeria’s vast reserves are meaningless without the infrastructure to deliver them to end-users. Speaking at the Association of Local Distributors of Gas (ALDG) Business Forum in Abuja, the Authority Chief …
