…issued on Monday by the Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited, Andy Odeh. The AAGP, which is being jointly promoted by NNPC Limited and Morocco’s Office National des Hydrocarbures et des Mines, is planned to stretch nearly 6,900 kilometres along the West African Atlan…

…comes as global crude oil prices climb sharply, pushing up the cost of refined petroleum products and intensifying pressure on Nigeria’s downstream sector.Marketers hike fuel prices nationwide as crude oil surges; Dangote suspends loading. prices surge nationwideSeveral major private depots announced new petrol prices,…

…energy, stocks, investment, and the economy for over a decade.The cost of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, now ranges between ₦1,100 and ₦1,550 per kilogram across Nigeria, depending on the state and proximity to major coastal depots.For millions of families already grappling with risin…

In line with the Petroleum Industry Act (PIA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged newly awarded holders of Petroleum Prospecting Licences (PPLs) to move quickly on developing their assets while engaging responsibly with host communities. The post NUPRC wants PPL holders to fast-trac…

…About six months after assuming office as Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan is pursuing a strategy centred on regulatory certainty, faster decision-making, operational efficiency, and transparent governance. The early signs are reflected in strong…

…following a rise in depot loading prices to around N1,200 per litre.A market survey by Petroleumprice.ng showed that independent marketers have begun adjusting retail prices after private depot owners raised wholesale prices across Lagos, Port Harcourt, Warri and Calabar.Petrol now sells between N1,100 and N1,230 per l…

…stocks, and general market trends.Retail prices of cooking gas, also known as Liquefied Petroleum Gas (LPG), have fallen across Nigeria as improved domestic supply and lower depot prices continue to ease pressure on consumers.A market survey conducted showed that several refilling plants have reduced their prices, with…

…High Commissioner to Sierra Leone, Amb. Ayo Luther-Ogbomode, the Minister of State for Petroleum Resources, Gas, Ekperikpe Ekpo, the Nigerian Permanent Representative to the ECOWAS, Amb. Olawale Awe, among others. The News Agency of Nigeria (NAN) reports that the high-level gathering brought together Heads of State, go…

…technology, energy, stocks, investment, and the economy for over a decade.Liquefied Petroleum Gas (LPG), popularly known as cooking gas, imported into Nigeria surged by an astonishing 1,400 per cent to 1.5 kilotonnes per day (KT/d) in June 2026, according to the Nigerian Midstream and Downstream Petroleum Regulatory Au…

…figure of ₦210 trillion dominated public discussion around the Nigerian National Petroleum Company Limited, creating an impression in some quarters that an almost unimaginable sum of public money had simply disappeared. The post NNPCL’s ₦210 trillion: When facts finally cut through the noise appeared first on Tribune O…

In this interview with DAMILOLA AINA, the Chief Executive Officer of petroleumprice.ng, Jeremiah Olatide, discusses how the five-month conflict involving the United States and Iran, along with disruptions to the Strait of Hormuz, affected global crude oil prices, Africa’s fuel supply chain and Nigeria’s petroleum indus…

…earlier reported that former Bayelsa state governor and ex-Minister of State for Petroleum Resources under the late Muhammadu Buhari, Timipre Sylva, lost his elder brother, Chief Johnbull Anagha Sylva.His death came amid the allegation that the All Progressives Congress (APC) chieftain funded a failed coup plotted to s…

…into billions of naira. The former vice president also cited the Nigerian National Petroleum Corporation NNPC Limited’s audited 2024 financial statements, which he said showed ₦7.13 trillion spent on “Energy Security Expenses” — what NNPC itself identifies as petrol subsidy — despite claims that subsidy had been remove…

…young Nigerians to equip them with technical and professional skills for careers in the petroleum industry. The programme, which targets graduates in mechanical, electrical and instrumentation engineering, comprises three months of classroom instruction and nine months of on-the-job training with partner oil and gas se…

…of Premium Motor Spirit (PMS), also known as petrol, Automotive Gas Oil (AGO), Liquefied Petroleum Gas (LPG), butane and aviation fuel arrived at major petroleum depots in Lagos, Warri and Port Harcourt between July 13 and July 17 as fuel marketers intensify efforts to replenish inventories despite mounting import cost…

…per cent, according to the latest data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The development marked a sharp reversal from the pattern recorded at the beginning of the year when domestic refining was supplying the bulk of the country’s petrol requirements. The NMDPRA’s June 20…

…sites, recovered about 4.698 million litres of stolen crude oil and illegally refined petroleum products, and arrested more than 91 suspects involved in crude oil theft, pipeline vandalism, militancy and related offences during the second quarter of 2026. The Director of Naval Information, Captain Abiodun Folorunsho, d…

By Obas Esiedesa, Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has urged newly awarded holders of Petroleum Prospecting Licences (PPLs) to fast-track the development of their assets to support the Federal Government’s target of increasing crude oil production to two million barrels per day by 202…

…the economics of bringing Premium Motor Spirit (PMS) into the country, while Dangote Petroleum Refinery's pricing strategy limits their ability to recover those costs.A Daily Refined Products Commentary published by S&P Global Commodity Insights says market participants have grown more concerned about the widening gap…

…revenues if current price levels are sustained. Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that Nigeria’s average daily crude oil and condensate production rose by 2.3 per cent to 1.74 million barrels per day (mbpd) in June from 1.70mbpd in May. The post Oil price reverses gai…

…several major revenue sources. It stated, “In June 2026, Companies Income Tax, CGT, SDT, Petroleum Royalties, Gas Flared, Rental & MOR, Value Added Tax, Import Duty and CET Levies increased significantly while Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties and Fees decreased considerably. Excise Duty increase…

…several major revenue sources. It stated, “In June 2026, Companies Income Tax, CGT, SDT, Petroleum Royalties, Gas Flared, Rental & MOR, Value Added Tax, Import Duty and CET Levies increased significantly while Petroleum Profit Tax, Hydrocarbon Tax, Mineral Royalties and Fees decreased considerably. Excise Duty increase…

…Shifts to Dollar-denominated pricing for Fuel In a major commercial shift, the Dangote Petroleum Refinery has suspended its naira-based transaction model and officially transitioned to a dollar-denominated pricing framework for all refined products.The new policy effectively ends the naira payments initially establishe…

…including Imeko, Ilara, Ilaro, Idiroko, and Seme-Badagry.” “In addition to the seized petroleum products, five vehicles used in conveying the products were also intercepted. The combined duty-paid value of the seized PMS and the vehicles was estimated at N38m,” Aliyu added. Aliyu stated that the service continues to up…

…crude production level in over six years. According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the daily average production was 1.74 Million barrels per day, comprising of both Crude oil (1.56 Million bpd) and condensate (0.18 Million bpd), while lowest and peak combined crude oil and c…