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Oil & Gas - Page 25

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

The United States has seized a sanctioned Venezuelan oil tanker off the country’s coast, President Trump announced Wednesday, escalating tensions with Caracas and sending oil prices higher. “We’ve just seized a tanker on the coast of Venezuela, very large, largest one ever,”

December 11, 2025

Petrol Price Drops To N925 At Private Depots, Marketers Count Losses

Business·FEATURES·News·Oil & Gas·Top Stories

Will Nigeria Prioritise Imports Or Support Local Refining?

Nigeria’s Choice Between Imports and Local Refining With Nigeria’s fuel sector in a heated debate, two major trade groups are raising concerns about potential monopolistic practices by Dangote Refinery, the country’s largest private refinery. The Independent Petroleum Marketers Association of Nigeria (IPMAN)

November 14, 2024

Benefits Of Dangote Refinery’s PMS, Diesel Distribution Plan

Business·News·Oil & Gas

Marketers To Purchase Petrol From Dangote Refinery At N990/Litre

Independent Marketers Turn to Dangote Refinery Over 30,000 members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) are gearing up to buy petrol directly from the Dangote Refinery in an attempt to reduce fuel costs and improve supply efficiency. According to

November 13, 2024

Dangote Refinery To Supply 150,000 IPMAN Outlets Nationwide

Business·News·Oil & Gas

IPMAN Promises Affordable Fuel After Reaching Agreement With Dangote On Direct Supply

The Independent Petroleum Marketers Association of Nigeria, (IPMAN), and Dangote Refinery management have finally sealed a deal for direct lifting of Premium Motor Spirit (PMS), also known as petrol from the refinery. IPMAN National President, Abubakar Maigandi, who made this known during

November 12, 2024

News·Oil & Gas

NCDMB, Butane Energy, Boost LPG Supply As Kaduna Plant Is Commissioned

The Nigerian Content Development and Monitoring Board (NCDMB) and Butane Energy Limited have commissioned a 180-metric-tonne liquefied petroleum gas (LPG) Filling Plant in Kaduna, Kaduna State. This is a significant milestone in their collective drive to make LPG a widely accessible, cleaner,

November 11, 2024

NNPC Refutes Viral Claims That Its Fuel Does Not Last

Business·News·Oil & Gas

PMS Landing Cost Drops To ₦976/Litre

The pump price of Premium Motor Spirit (PMS) also known as petrol may likely drop following a reduction in the estimated cost of landing product in recent times. According to a publication by the Major Energies Marketers Association of Nigeria (MEMAN) Competency

November 11, 2024

Nigeria's Inflation Rate Squeezes Car Market: High Prices, Low Sales As Fuel Costs Bite Hard

Business·FEATURES·News·Oil & Gas·Top Stories

High Prices, Low Sales As Inflation Rate, Fuel Costs Squeeze Car Market

As Nigeria’s inflation rate continues to climb, the impacts are being felt in every corner of the economy. One industry affected is the car market. Rising fuel prices and inflation have significantly increased car prices, making it tough for Nigerians to buy

November 11, 2024

Worries As Oil Price Crash, Low Production Threaten Nigeria’s 2025 Budget

Business·News·Oil & Gas

Nigeria’s Oil Import Drops By 35% In Q2 Amid Shift In Energy Policy

Oil Import Decline Reflects Policy Shifts Nigeria’s oil import expenditure sharply dropped by 35% in the second quarter of 2024, with imports amounting to $2.79 billion, a decrease from $4.31 billion recorded in Q1. This trend, reported by the Central Bank of

November 10, 2024

Dangote Refinery To Start Processing Only Nigerian Oil By Year End

Business·News·Oil & Gas

South Africa, Angola, Namibia, 4 Others Set to Lift Fuel from Dangote Refinery

Dangote Refinery to Supply Fuel Across Africa The Dangote Refinery and Petrochemical plant is set to become a major fuel supplier for various African nations, starting with South Africa, Angola, and Namibia. The 650,000-barrel-per-day facility is in advanced negotiations with these nations,

November 9, 2024

Tenants Panic As Landlords Blame Rent Hikes On Nigeria's Inflation Rate, Fuel Costs

Business·FEATURES·News·Oil & Gas·Top Stories

Tenants Panic As Landlords Blame Rent Hikes On Inflation Rate, Fuel Costs

Nigeria’s Inflation Rate: The Impact on Lagos House Rents Nigeria’s inflation rate has surged to 32.7% in recent months, affecting essential commodities intensely. For tenants and landlords in Lagos, however, these numbers are now more than abstract statistics—they are reshaping lives and

November 9, 2024

Rising Flames: How Petrol Price Hikes Are Burning Holes In Nigerians’ Pockets

Business·FEATURES·News·Oil & Gas·Top Stories

Rising Flames: How Petrol Price Hikes Burn Holes In Citizens Pockets

Another Petrol Price Hike Hits Nigerians Nigeria is grappling with yet another petrol price hike, a rise that has sent shockwaves through households, businesses, and the economy at large. The price of petrol has now soared to an unprecedented N1,060 per litre

November 8, 2024

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Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

UK Targets Sugary Milk Drinks as Government Tightens Health Levy

The UK Labour government has expanded its existing sugar tax

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 26th November 2025

What is the dollar-to-naira exchange rate on the black market,

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Oil & Gas - Page 25

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

Will Nigeria Prioritise Imports Or Support Local Refining?

Marketers To Purchase Petrol From Dangote Refinery At N990/Litre

IPMAN Promises Affordable Fuel After Reaching Agreement With Dangote On Direct Supply

NCDMB, Butane Energy, Boost LPG Supply As Kaduna Plant Is Commissioned

PMS Landing Cost Drops To ₦976/Litre

High Prices, Low Sales As Inflation Rate, Fuel Costs Squeeze Car Market

Nigeria’s Oil Import Drops By 35% In Q2 Amid Shift In Energy Policy

South Africa, Angola, Namibia, 4 Others Set to Lift Fuel from Dangote Refinery

Tenants Panic As Landlords Blame Rent Hikes On Inflation Rate, Fuel Costs

Rising Flames: How Petrol Price Hikes Burn Holes In Citizens Pockets

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Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

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Oil & Gas - Page 25

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