Global oil prices surged to $104 per barrel on Monday after peace talks between the United States and Iran collapsed, raising fears of renewed hostilities in the Middle East.
The United States spent $578.78m on Nigerian crude oil imports in the first quarter of 2026, down from $681.40m in the same period of 2025, according to data from the U.S. Census Bureau and Bureau of Economic Analysis.
The Federal Government, through the Nigerian National Petroleum Company Limited (NNPC), has begun sourcing crude oil from international traders to sustain operations at the Dangote Petroleum Refinery, amid mounting fuel price hikes.
'Nigeria Risks Oil Production Drop Without New Discoveries'
The President of the Nigerian Association of Petroleum Explorationists (NAPE) Johnbosco Uche, has warned that Nigeria’s oil production could decline in the coming years if new exploration efforts and discoveries are not urgently pursued.
Speaking at a media...
NNPC Has Option to Increase Stake in Dangote - Aliko
The President of the Dangote Group, Alhaji Aliko Dangote, has said the Nigerian National Petroleum Company Limited (NNPCL) has the opportunity to increase its 7.2 per cent stake in the Dangote refinery.
However, Dangote said this...
Dangote Refinery Reduces Crude Intake Amid Operational Challenges
Amid its recent struggle to meet local fuel demand, the Dangote Petroleum Refinery has reportedly reduced its crude oil purchases this month following operational setbacks that have slowed output.
The refinery is expected to purchase fewer than 300,000...
