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Nigeria oil and gas Sector

Nigeria Targets Up to $50bn Investment From 22 Offshore Projects

August 9, 2026

Nigeria expects 22 major offshore oil and gas projects to attract between $30 billion and $50 billion in investment between 2026 and 2030, as the country seeks to revive upstream investment, increase

Dangote Refinery Reduces Ex-depot Price Of Diesel To ₦1,020 Per Litre

News·Oil & Gas·Top Stories

Dangote Refinery Resumes Naira Sales, Raises Ex-Depot Petrol Price to ₦1,215 Per Litre

July 22, 2026

Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit (PMS) in naira, marking a return to local currency transactions after a brief period of dollar-denominated sales, Prime Business Africa reports.

News·Oil & Gas·Top Stories

FG, Dangote Refinery in Talks Over Dollar Fuel Sales as Naira Transactions May Resume

July 18, 2026

The Federal Government and Dangote Petroleum Refinery are in discussions over the refinery’s recent decision to sell petroleum products in United States dollars, with indications that naira-denominated transactions could soon be restored,

News·Oil & Gas·Top Stories

FG Approves $11.50/Barrel Tax Credit for Shell’s $20bn Bonga Deepwater Project

July 15, 2026

The Federal Government has approved a production-linked tax credit of $11.50 per barrel for Shell Plc’s Bonga Southwest Aparo (BSWA) deepwater oil project, in a move aimed at unlocking an estimated $20

News·Oil & Gas·Top Stories

Depot Petrol Hits ₦1,250/L, Diesel Rises to ₦1,650 as Dangote Refinery Switches to Dollar-Only Sales

July 14, 2026

Ex-depot prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), or diesel, have surged across major independent depots following Dangote Petroleum Refinery’s decision to commence the

News·Oil & Gas·Top Stories

Diesel Price Rises to ₦1,450/Litre as Global Oil Rally Drives Up Depot Rates

July 8, 2026

Nigerian depot owners and petroleum marketers have increased the ex-depot price of diesel by 2.8 per cent to ₦1,450 per litre, up from ₦1,410 recorded on Tuesday, following a sharp rise in

News·Oil & Gas·Top Stories

NCDMB, Oil Industry Regulators Unveil Joint Audit to Boost Local Manufacturing Capacity

July 8, 2026

The Nigerian Content Development and Monitoring Board (NCDMB), in collaboration with key regulators and industry stakeholders, will commence a joint audit of indigenous oil and gas service providers and manufacturers in the

Finance & Economy·News·Oil & Gas·Top Stories

FG, Dangote Refinery, Marketers Meet to Drive Down Petrol Prices

July 6, 2026

The Federal Government on Monday convened a high-level stakeholders’ meeting with Dangote Refinery, regulators and major petroleum marketers as part of efforts to ensure Nigerians benefit from lower pump prices for Premium

News·Nigeria·Oil & Gas·Top Stories

Dangote Cuts Petrol Price Again, Explains Pricing Model, Signals Further Reductions

July 2, 2026

Dangote Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, by N50 per litre to N1,075 per litre, marking its fourth downward price review in one

News·Oil & Gas·Top Stories

FCCPC Warns Fuel Marketers Over Unfair Pricing as Petrol Holds at ₦1,200 Nationwide

June 28, 2026

The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned petroleum marketers against unfair pricing practices, warning that it will sanction operators found engaging in profiteering amid shifting dynamics in the downstream

News·Oil & Gas·Top Stories

NCDMB Launches Trainer Certification Scheme to Boost Skills Standards in Oil, Gas Industry

June 24, 2026

The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a new certification programme aimed at improving the quality of workforce training in Nigeria’s oil and gas industry, a move expected to

News·Oil & Gas·Top Stories

Ondo, Sahara Energy Move to Revive 28-Year-Old Oil Field, Eye Higher Output and Investment

June 16, 2026

Governor Lucky Orimisan Aiyedatiwa has reaffirmed Ondo State’s commitment to supporting the reactivation of a dormant oil field that has remained inactive since 1998, a move expected to boost crude oil production,

Global Oil Prices Rise To $73.05/ Barrel As Market Prepares For 2024 Outlook

Business News·News·Oil & Gas·Top Stories

Nigeria Falls Short Of OPEC Oil Production Target For Ninth Straight Month Despite Anti-Theft Efforts

May 13, 2026

Nigeria has again failed to meet its crude oil production quota approved by the Organization of the Petroleum Exporting Countries, extending a prolonged trend that is raising fresh concerns over government revenue,

Business News·Finance & Economy·News·Oil & Gas·Top Stories

NNPC Bets on Technical Equity Model to Revive Idle Refineries

May 5, 2026

Nigeria’s state oil firm, NNPC Limited, is pivoting to a new intervention strategy aimed at breaking a long cycle of failed refinery rehabilitation, following the signing of a Memorandum of Understanding with

News·Oil & Gas·Top Stories

NNPC Completes Key River Niger Crossing on OB3 Gas Pipeline

April 30, 2026

Nigeria’s state-owned oil company, NNPC Limited, has announced the successful completion of a major engineering milestone on the Obiafu-Obrikom-Oben (OB3) Gas Pipeline, with the crossing of the River Niger now fully achieved,

News·Oil & Gas·Top Stories

Waltersmith Doubles Refinery Capacity to 10,000 bpd, Unveils New Expansion Plans

April 26, 2026

Waltersmith Refining and Petrochemical Company has increased the capacity of its modular refinery in Ohaji-Egbema, Imo State, from 5,000 to 10,000 barrels per day (bpd), marking a significant milestone in Nigeria’s drive

News·Oil & Gas·Top Stories

Opposition to OPL 245 Settlement Driven by Self-Interest, Not Patriotism – AGF

March 25, 2026

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbeni, SAN, has accused critics of the recent OPL 245 dispute resolution of pursuing personal and political interests rather than national welfare,

Business News·Top Stories

Why NRS Must Integrate NUPRC Audit System For Oil, Gas Sector Royalty Collection – Expert

July 4, 2025

Economist and Energy analyst, Mr Kelvin Emmanuel, has said the Nigeria Revenue Service (NRS) needs to be actively involved in the audit process by the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) for

News·Oil & Gas

Why Tinubu Approved Licences For Oil Exploration In Northern Nigeria – Lokpobiri

May 19, 2025

The issuing of all essential licenses needed for the Kolmani Integrated Development Project has received regulatory approvals from President Bola Tinubu. Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri,

FEATURES·Oil & Gas

Major Events That Shaped Nigeria’s Oil and Gas Sector In 2024

December 28, 2024

Nigeria’s oil and gas sector recorded a couple of activities which led to significant changes in the upstream, and downstream. Tinubu’s executive orders on oil and gas sector reforms President Bola Tinubu

Business News·News·Oil & Gas

NNPCL Opens Up On Allegations Of $6.8bn Debt, Remittances To Federation Account

August 19, 2024

The Nigeria National Petroleum Company Limited (NNPCL) has denied allegations that it is owing international oil traders about $6.8 billion. The national oil company also said it is not true that it

Oil & Gas

Disorganized Gas Sector In Nigeria

June 10, 2024

Nigeria has over 209.5 trillion cubic feet of natural gas reserves based on the estimates of 2022, the largest natural gas reserves in Africa, which accounts for 33% of total gas reserves

Business News·Oil & Gas

NLNG Boss Hails Tinubu’s Executive Order On Oil And Gas, Say It’ll Unlock Gas Investments

March 14, 2024

The Executive Order on oil and gas reforms signed recently by Present Bola Ahmed Tinubu will play a pivotal role in unlocking the development of non-associated gas (NAG) in Nigeria, says Managing

NCDMB Debunks Report On Alleged N7.7bn Expenditure On Consultancy

News

NCDMB Hails Tinubu’s Oil Sector’s Executive Orders, Says It Reinforces NOGICD Act, SLA

March 12, 2024

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe on Monday applauded President Bola Ahmed Tinubu, for announcing three Presidential Executive Orders directed at incentivizing the

News

Dorman Long Applauds NCDMB’s Support to Fabrication Firms In Nigerian Oil, Gas Industry

January 18, 2024

The Nigerian Content Development and Monitoring Board (NCDMB) has been applauded for its steadfast commitment to the growth of local content, particularly for the support it lends to the fabrication subsector of

Business News·Oil & Gas

Shell Denies Exiting Nigeria Amid Sales Of Its Onshore Asset In Niger Delta

January 18, 2024

Shell PLC has refuted claims of a complete exit from Nigeria following the sale of its onshore business in the Niger Delta.

NNPC: Petrol Import To Stop As Port Harcourt Refinery Begins Operations Soon

News·Oil & Gas

Oil Theft: 10,166 Illegal Refineries, Crude Pipeline Connections Destroyed In Nigeria Since 2021 – NNPCL

January 18, 2024

The Nigerian National Petroleum Company Limited (NNPCL) says 10,166 illegal refineries and crude oil pipeline connections have been destroyed in Nigeria since 2021. NNPCL, GCEO, Mele Kyari made this known when he

Business News·News

$2.4bn Asset Sale: Amnesty International Calls On Shell To Compensate Niger Delta

January 17, 2024

Amnesty International has called on Shell to address environmental issues in the Niger Delta following its decision to sell its Nigerian onshore subsidiary, Shell Petroleum Development Company of Nigeria, for up to

Major Events That Shaped Nigeria's Oil & Gas Sector In 2023 And Looking Ahead 2024

Business News·Oil & Gas

Will Oil, Gas Sector Increase Nigeria’s Revenue In 2024?

January 16, 2024

Nigeria's oil and gas sector has developed as the star entertainer of the year, encountering a noteworthy surge of 125% over the past year, making it the best-performing record in 2023.

Business News·Oil & Gas

Train-7 Project Hits 52%, Employs 8,300 Persons

November 6, 2023

The $5 billion Train-7 project being undertaken by the Nigeria Liquefied Natural Gas (NLNG) at Finima, Bonny Island, Rivers State has reached 52 percent and currently engages 8,300 Nigerians of diverse skill

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

Business News·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

Business News·News·Oil & Gas

OPEC Envisions Medium-Term Emergence Of Modular Refineries In Nigeria

OPEC) has announced that Nigeria is on the verge of a transformation in its energy sector with the establishment of medium-term modular refineries with a daily production capacity of 20,000 barrels each.

October 17, 2023

NNPC Doesn’t Have Fuel To Sell – Oil Marketers’ Depot Chairman Says

Business News·Oil & Gas

Full Deregulation Of Downstream Oil Sector’ll End Petrol Crisis -IPMAN

With the incessant scarcity and hike in prices of petroleum products in Nigeria, the only antidote is full deregulation of the downstream oil and gas subsector to encourage more private sector participation in order to boost local production and supply. This was

June 1, 2023

Nigeria’ll Become More Industrialised With Robust Investment In Gas'

Oil & Gas

‘Nigeria Will Become More Industrialised With Robust Investment In Gas’

Nigeria has proven gas reserves of about 206.53 trillion cubic feet valued at over $803.4 trillion as the Minister of State for Petroleum Resources, Chief Timipre Sylva

December 20, 2022

Oil & Gas·Business News

Fuel Subsidy Gulps N2 Trillion In One Year

With N8 billion daily expenditure, the Nigerian government’s yearly spend on petrol subsidy amounts to N2 trillion. According to top oil marketers, it impacts negatively on the economy and therefore raised concern on the need to deregulate the system to encourage investment

August 2, 2021

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