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Crude Oil Production

NUPRC Opens Up On Failure Of Oil Producers To Supply Crude To Dangote Refinery

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) addressed the ongoing controversy between oil producers and the Dangote Refinery over crude oil supply, highlighting regulatory challenges, and the broader implications for Nigeria’s energy sector. The Commission shared its challenges in trying to mandate

July 4, 2025

Business·FEATURES·Oil & Gas

Concerns For Nigeria’s Oil Market As Over 60 Million Barrels Remain Unsold

There are concerns that Nigeria’s oil industry is facing significant challenges as more than 60 million barrels of crude oil remain unsold due to a growing global supply glut and weakening demand. This oversupply situation threatens Nigeria’s revenue, foreign exchange earnings, and economic stability

April 25, 2025

FEATURES·Oil & Gas

Fueling Uncertainty: What Government’s Naira-for-Crude Policy Means For Nigeria

The Naira-for-Crude policy was introduced by the Nigerian government as a strategic intervention initiative to address the country’s fuel supply challenges, reduce reliance on foreign exchange (FX) for fuel imports, and stabilize the economy. However, its implementation and recent rumour of suspension have

March 11, 2025

Savannah Energy’s Income Rises By 40% To $233.4m In H1 2024

Business·Oil & Gas

Savannah Energy Signs Share Purchase Agreements To Acquire 49% Interest In Stubb Creek Field, Nigeria

Savannah Energy PLC, the British independent energy company has signed separate Share Purchase Agreements (SPAs) with Sinopec International Petroleum Exploration and Production Corporation (SIPEC) and Jagal Ventures Limited to acquire 100 per cent of the outstanding share capital of SIPEC.

March 19, 2024

Kaduna Refinery: The Role Of Local Refining In Nigeria's Fuel Economy

Business·Oil & Gas

NNPCL Begins Crude Oil Supply To Test-run Port Harcourt Refinery

Nigerian National Petroleum Company Limited (NNPCL) has initiated the supply of crude oil for the test-running of the Port Harcourt Refinery.

January 1, 2024

Nigeria’s Oil Production Declines By 33,000 Barrels As OPEC Reports Setback In September

Business·Oil & Gas

OPEC Predicts High Oil Demand In 2024

OPEC outlined roles for economic growth in 2024, expecting a surge in global oil demand by 2.2 million barrels per day (mb/d) year-on-year (y-o-y).

December 28, 2023

Amid Struggles To Meet OPEC Oil Production Quota, Nigeria Ranks 22nd In Global Petrol Price Index

Business·News

Africa’s Second-biggest Crude Producer, Angola, Leaves OPEC After 16 Years

Africa’s second-biggest producer of crude oil, Angola, has announced its decision to quit the Organisation of Petroleum Exporting Countries (OPEC).

December 21, 2023

N10 Trillion Spent On Refineries, But They Refuse To Work, Says Taiwo Oyedele

Business·Oil & Gas

NUPRC Wades Into Reason For Delayed Take-off Of Dangote Refinery, 5 Others

Nigeria’s failure to make crude oil available to the multi-billion dollar Dangote Refinery has been identified as reason for the delayed production of refined petroleum products at the facility. This came to the fore as the 650,000 barrels per day Dangote Refinery

November 2, 2023

Nigeria’s Crude Oil Production Surges To 1.3mbpd

Business·Oil & Gas

OPEC Projects $14tn Investment Required To Satisfy Surging Oil Demand

The Organisation of Petroleum Exporting Countries (OPEC) has unveiled its 2023 World Oil Outlook with a projection of soaring oil demand and an urgent call for a $14 trillion investment. This perspective sets them apart from other forecasters, particularly the International Energy

October 10, 2023

Business·Insights·Oil & Gas

Nigeria’s Oil Revenue To Lose N1.24 trillion, Amid Drop In Crude Production

Nigeria’s oil revenue will fall next year according to the projection made by President Muhammadu Buhari on Thursday during the presentation of 2023 budget to the National Assembly. Prime Business Africa had reported that President Buhari presented N20.51 trillion budget, which he

October 8, 2022

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Crude Oil Production

NUPRC Opens Up On Failure Of Oil Producers To Supply Crude To Dangote Refinery

Concerns For Nigeria’s Oil Market As Over 60 Million Barrels Remain Unsold

Fueling Uncertainty: What Government’s Naira-for-Crude Policy Means For Nigeria

Savannah Energy Signs Share Purchase Agreements To Acquire 49% Interest In Stubb Creek Field, Nigeria

NNPCL Begins Crude Oil Supply To Test-run Port Harcourt Refinery

OPEC Predicts High Oil Demand In 2024

Africa’s Second-biggest Crude Producer, Angola, Leaves OPEC After 16 Years

NUPRC Wades Into Reason For Delayed Take-off Of Dangote Refinery, 5 Others

OPEC Projects $14tn Investment Required To Satisfy Surging Oil Demand

Nigeria’s Oil Revenue To Lose N1.24 trillion, Amid Drop In Crude Production

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