Oil Increases Further To $104 As Iran War Rages
Oil prices increased further above $100 a barrel on Monday, and stocks fluctuated as the Iran war moved into a third week with both sides showing no sign of backing…
Nigeria’s Daily Petrol Consumption Drops to 56.9m Litres in February — NMDPRA
The average daily consumption of Premium Motor Spirit (PMS), or petrol, dropped to 56.9 million litres per day in February 2026. According to figures newly released by the Nigerian Midstream…
Fuel Crisis Deepens as Dangote Refinery Raises Petrol Gantry Price to ₦1,175
Dangote Petroleum Refinery has revised its ex-depot prices, increasing the gantry price of Premium Motor Spirit (PMS), or petrol, to ₦1,175 per litre, while Automotive Gas Oil (AGO), commonly known…
Tinubu Concludes Historic Resolution of OPL 245 Dispute
President Bola Tinubu on Wednesday announced the successful conclusion of a historic settlement agreement between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited (NAEL). The agreement was…
Tinubu Issues Executive Order To Safeguard Oil And Gas Revenues, Direct Payments To Federation Account
President Bola Tinubu has issued an Executive Order (EO) to safeguard and enhance oil and gas revenues for the Federation, curb wasteful spending, eliminate duplicative structures in the sector, and…
Lukoil Plans Strategic Divestment of Nigerian Holdings, Others to Carlyle
Russia’s oil giant Lukoil, sanctioned by Washington over the Ukraine war, said Thursday that it would sell its foreign assets, including those in Nigeria and five other countries, to the…
Brent Tops $70 On Trump’s Iran Threats
Brent crude oil topped $70 a barrel Thursday for the first time since September as US President Donald Trump ramped up geopolitical tensions by threatening military strikes on Iran. In…
National Grid Collapses Again, Recovery Ongoing
Nigeria was plunged into darkness again this Tuesday as the national power grid suffered its second major collapse of 2026. The failure, which occurred around 11:00 AM, saw electricity generation…
FG Approves Commercial Oil Drilling In Ogun
The long-awaited status of Ogun State as an oil-producing state is set to materialise following the approval by President Bola Tinubu for the commencement of commercial oil drilling at Eba,…
Dangote Refinery Records 50 Million Litres Daily Fuel Offtake
Dangote Petroleum Refinery Plc has announced that it has reached a daily output of 50 million litres of Premium Motor Spirit (PMS). This achievement marks a significant milestone for Nigeria’s…