…Refinery’s gantry price, from N1,265 to N1,350 per litre, amid a surge in global crude oil prices.[/i This represents a 6.7 per cent increase and takes the refinery’s wholesale price above the current petrol landing cost of N1,311 per litre. Bent crude, the benchmark for Nigeria’s oil, was trading at about 107.92 dolla…

Nigeria’s crude oil and condensate production rose to 1,677,777 barrels per day in August 2026, representing a 0.4 per cent increase from the 1.67 million bpd recorded in July. The increase, though modest, marked another month of improved oil production as the country sustained compliance with its Organisation of Petro…

…contributions to the protection of Nigeria's critical national assets, the fight against crude oil theft and pipeline vandalism, and the promotion of peace, security and sustainable development across the Niger Delta. In announcing the honour, AFRIMMA highlighted Tompolo's commitment to safeguarding strategic national…

…Dangote Refinery had increased its gantry diesel price by N100 to N1,850 per litre as crude oil prices topped $95 per barrel. However, Brent crude and West Texas Intermediate, WTI prices had cooled slightly $94.74 and $90.34 per barrel, respectively, as of the time of filing this report on Friday. Diesel pump price ris…

…not confirm the reported death toll. Kaborio said: “A number of people who went to scoop crude oil died in the process. I cannot volunteer the actual figure now because investigation is still ongoing.” The police said the investigation would establish the circumstances surrounding the incident and determine the actual…

…suspected of oil theft have died after inhaling a petroleum product believed to be crude oil in Okrika Local Government Area of Rivers State. The incident reportedly occurred early Thursday when youths allegedly attempted to load the product into a vessel from an illegally tapped point at a jetty in the area. Several o…

Brent crude oil surged above $95 per barrel after US strikes on Iranian targets near the Strait of Hormuz rattled global oil marketsDangote Refinery raised its petrol gantry price three times in nine days, bringing the cumulative increase to N100 per litreNNPCL is now selling petrol at N1,299 per litre in Lagos and up…

…source of supply, it will affect the prices at the retail outlets. So, regardless of the crude oil price coming down, if we are buying, we will not buy products at N1,500 and sell at N1,499 per litre. “If we buy 1,500 per litre, we must still try to make a minimal markup to be able to pay for the cost of finance, cost…

…climbed sharply to as high as N1,290 per litre, amid a renewed surge in international crude oil prices. The development threatens to worsen the financial burden on households and businesses, with marketers expected to review their pump prices if the latest increase in depot costs persists. The latest mid-day depot pric…

Global crude oil prices have increased significantly in the last 24 hours after the United States launched fresh airstrikes against Iran. A crude oil price survey showed that Brent and West Texas Intermediate (WTI) crude blends rose sharply to $95.49 and $90.71 per barrel, respectively, at the time of this report. This…

…geopolitical zone, troops of Operation DELTA SAFE sustained operations against illegal crude oil bunkering and refining across Imo and Rivers States. On 20 August 2026, in sustained maritime operations under Operation DELTA SENTINEL, the Nigerian Navy disrupted suspected crude oil storage infrastructure containing appr…

…days, with some operators adjusting their rates amid concerns over higher international crude oil prices.Data from PetroleumPriceNG showed that AYM Shafa was selling LPG at about N1,050 per kilogramme, while Ardova Plc was listed at N975.NIPCO Lagos and 11Plc were both pegged at around N980 per kilogramme.The developme…

…aviation fuel. The remaining 10 vessels are expected to carry consignments including crude oil, petrol, sugar and bulk salt. Meanwhile, the port authority said 13 ships and tanker vessels had already arrived at the three Lagos ports and were awaiting berthing. The vessels are expected to discharge cargoes comprising bu…

…She said the resulting improvement in peace and stability had also supported increased crude oil production. The NUPRC boss, however, acknowledged that the implementation of some trusts had been affected by disputes, particularly disagreements over the constitution of their boards of trustees. She said the commission h…

…as a major contributor to economic growth and diversify government revenue away from crude oil.

…may face another increase in fuel costs as petrol prices rise Photo: BloombergImagesCrude Oil Drop Has Little EffectWhat makes the latest price rise stand out is that it is happening alongside a decline in some international crude benchmarks. Brent crude fell 0.47% to $88.10 per barrel, while West Texas Intermediate sl…

…development in Nigeria, saying the project was expected to produce 150,000 barrels of crude oil per day upon completion. The PUNCH recalls that President Bola Tinubu has signed a series of executive orders aimed at attracting investors to the energy sector.

By Udeme Akpan & Ediri Ejoh Despite a five per cent drop in crude oil prices to $87.31 per barrel from $92, the domestic price of Premium Motor Spirit, PMS, also known as petrol, rose by nine per cent to N1,310 per litre from N1,205 per litre yesterday. Checks by Vanguard showed that MRS, a major downstream player, inc…

Global crude oil prices declined amid speculation over Venezuela’s planned exit from the Organisation of the Petroleum Exporting Countries, OPEC. A crude oil market survey showed that Brent and West Texas Intermediate, WTI, dropped to $88.10 and $83.40 per barrel, respectively, on Saturday morning. This means that Bren…

…in the Niger Delta. According to him, it will boost the ongoing campaign against crude oil theft, illegal refining, pipeline vandalism, and the other criminal enterprises that continue to bleed the national economy. He noted that the ceremony also reflects the excellent working relationship between the state and the Ai…

…or because competition is expected to emerge. ‘’Several factors, including international crude oil prices, exchange rates, refining costs, transportation, distribution, and other market costs, influence pump prices. Competition can improve efficiency and margins, but it cannot magically insulate Nigeria from global cru…

…He further questioned the ADC candidate’s proposal to link subsidy to the price of crude oil, noting that refining crude produces several other petroleum products apart from petrol. Onanuga cited diesel, aviation fuel and kerosene among the products derived from crude oil, and asked whether Atiku’s proposed subsidy wou…

…era," Sani said.According to Guardian, he questioned the logic of a country that exports crude oil, imports refined petroleum products, and then spends its foreign exchange subsidising those imports for domestic consumption."But a politician that has been in the economic field for a very long time telling us that the w…

…Sunday Dare, described the plan as an ‘arithmetic flaw.’ While arguing that selling crude oil to local refineries at preferential prices could create fiscal, market and smuggling challenges, Dare further described Atiku’s proposal as an ‘economic safari.’ According to the statement titled, ‘The Arithmetic Flaw in Subsi…

…will reduce the cost of petrol by prioritising domestic refining and supplying crude oil to Nigerian refineries at affordable prices if elected president in 2027. Okonkwo said this while speaking on Channels Television’s Politics Today, where he defended Atiku’s proposed fuel affordability plan and dismissed claims tha…