Crude Oil Price Falls to $73 Per Barrel Crude oil prices fell more than 4 percent on Tuesday after a report that Israel was willing to spare Iranian oil targets, easing concerns over supply disruption. Brent crude oil price fell 4.65 percent to $73.83 a barrel...

Dangote to Commence Crude Oil Production – Report A report by S&P Global Commodity Insights has said Dangote Group is looking to start production at its two Nigerian oil assets in the fourth quarter of 2024, after enduring challenges with regards to crude supply. The report...

FG Panel Proposes Six-month Crude Supply For Dangote Refinery   The supply of crude oil in naira to the Dangote Petroleum Refinery by the Nigerian National Petroleum Company Limited (NNPCL) is to last for six months in the first instance, pending a further review by the...

Finally, Nigeria Begins Crude Oil Sales in Naira Nigeria has officially commenced the sales of crude oil and refined petroleum products in naira, the Federal Government has announced. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Saturday said that in line...

One of the most significant challenges confronting President Bola Ahmed Tinubu's administration is the pervasive issue of oil theft, which has led to a drastic decline in crude oil production and a scarcity of premium motor spirit (PMS) supplies. This has, in turn, caused a surge in prices across the country, exacerbating the current economic hardships faced by citizens.

Alhaji Aliko Dangote envisioned ending Nigeria’s reliance on fuel importation and making Sub-Saharan Africa self-sufficient in energy. This vision led to the construction of the world’s largest single-train refinery, a 650,000-barrel-per-day facility located in Lagos State.