Fuel Prices may Soar as Crude Oil Nears $80/barrel The prices of refined petroleum products may rise in the coming days following the increase in the cost of Brent, the global benchmark for crude. Crude oil is a major commodity that determines the prices of refined...

According to a new report by Reuters, Dangote Petroleum Refinery retained 13 per cent of Nigeria’s crude oil exports as domestic supply in 2024.

The Strategy Behind Nigeria's Oil Production Boost - Lokpobiri   Minister of State for Petroleum Resources, Heineken Lokpobiri, has revealed the Federal Government's strategy to attract foreign investors, resulting in a significant boost to Nigeria's oil production. From one million barrels per day in 2023, Lokpobiri stated...

Nigeria Generates N73trn From Oil Export Amid Govt Borrowing   Nigeria’s total crude oil export revenues hit N73 trillion in the 21 months spanning January 2023 to September 2024, data from the National Bureau of Statistics (NBS) for the period has shown. The period also saw a...

Nigeria: Parable of a Brutish Economy, by Usman Muhammad Salihu   Nigeria, one of Africa’s largest crude oil producers, grapples with a troubling paradox: soaring fuel prices and a meager minimum wage. This contradiction underscores the harsh realities confronting millions living in a resource-rich nation. Crude oil...

FG Plans Rehabilitation of 5,120km Crude Oil Pipelines The Federal Government, through the Nigerian National Petroleum Company Limited, has commenced a process to comprehensively rehabilitate 5,120km of pipelines transporting crude oil and other petroleum products. These pipelines, which are crucial for the transportation of crude oil...