Executive vice president (EVP) of downstream, NNPC Ltd., says the nation’s downstream oil and gas sector is undergoing a transformation driven by deregulation, foreign exchange reforms, and strategic collaborations.

The shortfall indicates about $6.848 shortfall in oil revenue, the key component of budgetary funding.

NNPCL Profit Dips to N216bn in September The Nigerian National Petroleum Company (NNPC) Limited has reported a sharp decline in its profitability, with Profit After Tax (PAT) dropping to N216 billion in September 2025, signaling mounting financial pressure amid fluctuating oil prices and operational challenges. This...

Reps Launch Probe into $35m Modular Refinery Project  The House of Representatives on Wednesday resolved to investigate the state of the $35m modular petroleum refinery in Brass, Bayelsa State. The resolution of the House followed the adoption of a motion of urgent public importance moved by...

The Nigerian National Petroleum Limited (NNPCL) has increased petrol price to N992 per litre from N865 per litre.

FG Backs Naira-for-Crude Sale with Local Refiners The Federal Government has reaffirmed its commitment to sustaining the Naira-for-crude oil sale agreement with local refiners as part of its broader policy to reduce the cost of fuel production and strengthen the domestic refining sector. The Minister of...