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08024545197A team of Chinese engineers has commenced a comprehensive technical assessment of the Warri Refining and Petrochemicals Company (WRPC), marking the first step in the Nigerian National Petroleum Company Limited's (NNPCL) latest effort to restore the state-owned refinery to sustainable commercial operations
A fire has been reported at Bono Depot, with emergency response teams moving to the scene as efforts to contain the incident get underway
Dangote Petroleum Refinery has raised $750m through an international bond offering carrying a 7.5 per cent fixed coupon, marking the company's latest access to global capital markets as it expands operations at Africa's largest refinery.
Nigeria's fiscal outlook could come under renewed pressure if international crude oil prices remain below $80 per barrel, with a new industry report warning that prolonged price weakness may undermine government revenue projections, strain investment across the energy sector, and keep petrol prices within the ₦750 to ₦850 per litre range
The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of Premium Motor Spirit (PMS), lowering its retail price to ₦1,170 per litre in Lagos and ₦1,210 per litre in Abuja, Petroleumprice.ng gathered
Oil and gas legal practitioners have called for urgent amendments to the Petroleum Industry Act (PIA) 2021 to eliminate regulatory overlaps, improve stakeholder engagement and strengthen investor confidence in Nigeria's petroleum industry.
A five-year geological investigation has identified promising oil and natural gas prospects in Plateau State, with researchers urging further exploration to determine the commercial viability of the discoveries and potentially open a new hydrocarbon frontier in Nigeria's Middle Belt
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned that marketers across the country will shut down filling stations if the Federal Government attempts to impose petrol price controls, insisting that such a move would undermine the deregulated downstream petroleum market.
The Republic of the Congo's national oil company, Société Nationale des Pétroles du Congo (SNPC), has begun discussions with Dangote Petroleum Refinery & Petrochemicals on a strategic partnership aimed at strengthening the Central African country's supply of refined petroleum products while deepening regional energy cooperation and industrial integration across Africa.
United States President Donald Trump has directed fuel retailers across the country to immediately lower gasoline prices, arguing that the recent decline in global crude oil prices should be reflected at the pump without delay
Tanker and commodity vessel traffic through the Strait of Hormuz rose on Monday for the first time since late last week, though volumes remain approximately 90 per cent below the levels recorded before the current conflict disrupted the world's most critical oil shipping lane.
The Federal Government says it is engaging petroleum marketers and industry regulators to ensure that pump prices of Premium Motor Spirit (PMS) and other petroleum products fairly reflect prevailing market conditions while protecting consumers from unfair pricing practices
Tanzania and the Dangote Group are in talks over a significant expansion of the conglomerate's investments in the country, with President Samia Suluhu Hassan appointing the Minister of Planning and Investment to coordinate a strategic partnership with Dangote Industries Limited following high-level discussions with the Group's President and Chief Executive, Aliko Dangote.
The Federal Government has called on petroleum marketers to reduce the pump prices of Premium Motor Spirit (PMS) and other petroleum products, saying the recent decline in global crude oil prices should be reflected in the domestic market
The Federal Competition and Consumer Protection Commission has said it will investigate gantry and retail fuel prices across Nigeria's downstream petroleum sector, citing findings from an ongoing market surveillance that suggest consumers are being exploited despite a significant drop in global crude oil prices.
The Economic and Financial Crimes Commission (EFCC) has recovered ₦38.66 billion in cash and assets from its ongoing investigation into the rehabilitation of Nigeria's state-owned refineries, as the anti-graft agency prepares criminal charges against former and serving officials of the Nigerian National Petroleum Company Limited (NNPCL), refinery executives, and contractors over alleged contract fraud and diversion of public funds.
Nigerian households are beginning to enjoy relief from months of soaring cooking gas prices as the cost of Liquefied Petroleum Gas (LPG) has fallen from about ₦2,200 per kilogramme to around ₦1,500/kg, representing a 31.8 per cent decline on improved supply and coordinated interventions across the domestic market.
Dangote Petroleum Refinery has lined up the export of 238,000 metric tonnes of Jet A1 aviation fuel, with one vessel currently loading and two others scheduled to arrive for cargoes bound for Europe, according to the latest tanker movement report
Nigeria's average retail price of Premium Motor Spirit climbed to ₦1,596.25 per litre in May 2026, marking a 55.31 per cent increase compared with the ₦1,027.76 per litre recorded in the same month a year earlier, according to the National Bureau of Statistics.
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