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Crude Oil

Nigeria’s Daily Oil Output Rises Above 1.8 Million Barrels, Highest In 3 Years

Nigeria’s crude oil production climbed to over 1.8 million barrels per day (bpd) in July, marking the country’s highest output in more than three years. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirmed the figures. NUPRC Chief Executive, Gbenga Komolafe, attributed the

August 4, 2025

Business·Oil & Gas

Why We Resort To Importing Crude From U.S. – Dangote

President of Dangote Group, Alhaji Aliko Dangote, has said his $20 billion refinery resorted to importing more crude oil from the United States due to insufficient supply from domestic sources. The management of the 650,000-barrel capacity refinery had, since the commencement of

June 20, 2025

Business·News·Oil & Gas

NNPCL Begins Crude Oil Sales In Naira To Dangote, Other Local Refineries

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has announced that the sale of crude oil in naira to Dangote Refinery and other local refiners has officially kicked off with effect from 1st October. Edun said the commencement

October 5, 2024

Business·News·Oil & Gas

Nigerian Troops Recover Over 700,000 Stolen Crude Oil In Major Operation

Troops Seize Over 700,000 Litres of Crude Oil In a significant crackdown on oil theft, Nigerian troops have recovered 715,325 litres of stolen crude oil and 148,415 litres of illegally refined diesel in the Niger Delta region. This operation, aimed at curbing

July 20, 2024

Business·Markets·News·Oil & Gas

Nigeria’s Crude Oil Production Decline Costs Country N720bn In Revenue In 2 Months

Nigeria, Africa’s largest oil producer, faced a significant revenue setback as a consequence of consecutive declines in crude oil production. The country lost about N720 billion due to a slump in production during February and March 2024. According to data from the

April 15, 2024

Business·Markets·News·Oil & Gas

Nigerian Crude Oil Trades At $92 Per Barrel, $14 Higher Than FG Budget Benchmark Amid Global Supply Concerns

Nigerian crude oil continues to hold its premium status in the global market, trading higher than the Federal Government’s budget benchmark as investors remain wary of supply disruptions. With recent attacks on Russian refineries by Ukraine and escalating tensions in the Middle

April 3, 2024

Saudi Arabia Issues Warning Of $50 Oil Price If OPEC+ Nations Fail To Comply

Business·Oil & Gas

Why Global Oil Market Needs $14trn Investment – OPEC

In a paradigm-shifting address at India Energy Week, OPEC’s Secretary General Haitham al-Ghais illuminated the pressing need for $14 trillion investment in the global oil market over the next two decades. His remarks underscored the critical juncture at which the energy sector

February 7, 2024

Business·News

Why Port Harcourt Refinery Can’t Work This December As Promised – Ex-NNPC Chief

Erstwhile Group Executive Director of the Nigerian National Petroleum Company (NNPC), Alex Ogedengbe, has advised Nigerians to minimize their expectations from the Port Harcourt refinery, stressing that from all indications the plant would not work this month. Prime Business Africa had reported

December 6, 2023

1.78mpd Oil Output Project Can Be Achieved – NNPCL

Business·News·Oil & Gas

NNPCL Kicks As Nigeria Records 172 Crude Oil Theft Incidents In 1 Week

The Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has described the destruction of over 5,000 kilometers of oil pipelines by vandals as a national calamity, with the country recording 172 crude oil theft incidents across different states between

November 22, 2023

Africa·Business·News·Oil & Gas

NNPCL, Aiteo Launch Nembe Crude Oil Grade

The Nigerian National Petroleum Company Limited (NNPCL) and Aiteo have jointly introduced the Nembe crude oil grade. The announcement was made at the Argus European Crude Conference in London, with Olufemi Soneye, NNPCL’s Chief Corporate Communications Officer, delivering the news on Wednesday,

November 8, 2023

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Crude Oil

Nigeria’s Daily Oil Output Rises Above 1.8 Million Barrels, Highest In 3 Years

Why We Resort To Importing Crude From U.S. – Dangote

NNPCL Begins Crude Oil Sales In Naira To Dangote, Other Local Refineries

Nigerian Troops Recover Over 700,000 Stolen Crude Oil In Major Operation

Nigeria’s Crude Oil Production Decline Costs Country N720bn In Revenue In 2 Months

Nigerian Crude Oil Trades At $92 Per Barrel, $14 Higher Than FG Budget Benchmark Amid Global Supply Concerns

Why Global Oil Market Needs $14trn Investment – OPEC

Why Port Harcourt Refinery Can’t Work This December As Promised – Ex-NNPC Chief

NNPCL Kicks As Nigeria Records 172 Crude Oil Theft Incidents In 1 Week

NNPCL, Aiteo Launch Nembe Crude Oil Grade

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