Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over findings from its ongoing surveillance of the downstream petroleum market, which suggest that consumers are being exploited despite the significant decline in global crude oil prices. In a statement issued on Sunday by the Director, Corporate Affairs, Ondaje...
Petroleum
A 5-year multidisciplinary study by researchers at the University of Jos (UNIJOS)has identified fresh petroleum system indicators and significant solid mineral prospects in Nigeria’s Middle Benue Trough (MBT), findings expected to strengthen future hydrocarbon and mineral exploration in the country. The research, conducted under the Petroleum Technology Development Fund...
Katsina State Government has introduced fresh security measures aimed at curbing criminal activities, including a statewide ban on the sale, purchase, transportation and storage of petroleum products in Jerry cans. Governor Dikko Umaru Radda signed the Executive Order, which takes immediate effect, as part of efforts to prevent fuel...
President Bola Ahmed Tinubu has said the removal of fuel subsidy by his administration saved the country from imminent bankruptcy and laid the foundation for the gradual recovery of the nation’s economy. He spoke on Friday when he hosted state governors who came to celebrate with him the Sallah...
A coalition of civil society organisations and stakeholders in Nigeria’s oil and gas sector has announced plans to stage a three-day peaceful protest against the continued importation of petroleum products into the country despite the presence of local refining capacity. The protest, scheduled to hold from May 18 to...
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has approved the F-500 Encapsulator Agent fire suppressant for use across midstream and downstream petroleum operations, subject to strict three-year conditions and regulatory monitoring. The fluorine-free agent is now cleared for deployment in depots, pipelines and processing facilities, the NMDPRA said...
The Economic and Financial Crimes Commission (EFCC), on Tuesday, April 14, 2026, presented its second prosecution witness, PW2, in the ongoing trial of a vessel, MT Ostria, and three others over an alleged theft of 25,354,000 litres of Premium Motor Spirit, PMS, belonging to the Nigerian National Petroleum Corporation...
Dangote Petroleum Refinery has announced another increase in the price of Premium Motor Spirit (PMS), raising its ex-depot rate to ₦1,245 per litre, as global oil markets react to escalating tensions in the Middle East. The latest adjustment, disclosed in a notice to fuel marketers on Friday, represents an...
Former presidential candidate of the Labour Party, Peter Obi, has said Nigeria’s vulnerability to global economic shocks is largely due to poor planning and the absence of strategic buffers such as petroleum reserves. In a post titled: ” _When Countries Fails To Plan”,_ and shared on his X (formerly...
The long-awaited corruption trial of former Nigerian Petroleum Minister and first female OPEC president, Diezani Alison-Madueke, is set to commence in London on Monday. The 65-year-old faces five charges of accepting bribes and one count of conspiracy to commit bribery, all allegedly tied to her tenure as Nigeria’s Minister...
Chude Jideonwo, director of the widely anticipated documentary ‘Is It Your Money?’, has released the four-part documentary series centered on the former Minister of Petroleum Resources, Diezani Alison-Madueke. In the series, Diezani speaks directly to the allegations that have followed her for years, insisting, “I did not steal any...
Renaissance Africa Energy Company Limited has called for an urgent overhaul of operational efficiency and accelerated upskilling of Nigeria’s youthful energy workforce to unlock the country’s competitive advantage in the global energy market. Speaking at the 43rd annual international conference of the Nigerian Association of Petroleum Explorationists (NAPE) in...
By PAUL EJIME – Dangote Industries Limited (DIL) is targeting an annual revenue of US$55 billion from the Dangote Petroleum Refinery, which is expected to expand production from 650,000 barrels per day (bpd) to 1.4 million bpd, as the world’s largest, Aliko Dangote, Africa’s richest man and President of DIL, has projected....
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), has been hit by another wave of crisis with the President, Comrades Williams Akporeha, and the General Secretary, Afolabi Olawale, taking fresh swipe from Petroleum Tanker Drivers (PTD), just as the Branch stakeholders called for the duo’s immediate resignation...
By EZEKIEL OBI, Abuja – Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has pinpointed political interference, corruption, and mismanagement as the primary reasons behind the persistent failure of Nigeria’s state-owned refineries. PENGASSAN President Mr. Festus Osifo, stated this on Friday in Abuja during the 4th PENGASSAN...
By MBAFAN ADE, Abuja – National Bureau of Statistics (NBS) disclosed that the average retail price of petrol per litre surged to N1,024.99 in July 2025, up from N770.54 in July 2024. According to the NBS Premium Motor Spirit (Petrol) Price Watch for July 2025, released in Abuja on...
Managing Director and Chief Executive Officer of Renaissance Africa Energy Company Limited, Mr. Tony Attah, has stated that Nigerian stakeholders in the oil and gas industry are now better positioned, than in the last five years, to optimise Nigeria’s vast hydrocarbon natural resources, due to changes that have been...
Shell is highlighting its contributions to the growth of oil industry in Nigeria at an exhibition at the annual international conference of the Nigeria Section of the Society of Petroleum Engineers (SPE) which opened today in Lagos. It comes as Shell received an award for the Bonga North FID...
By HARUNA AHMED, Yola – Nigeria Customs Service (NCS) has intercepted over 69,375 litres of smuggled Premium Motor Spirit (PMS) and Automotive Gas Oil (AGO) in Adamawa and Taraba States — one of its largest hauls under the ongoing Operation Whirlwind. The development was announced during a press briefing...
The House of Representatives Committee on Petroleum Resources (Downstream) has resolved to launch a comprehensive investigation into the state of Nigeria’s refinery rehabilitation projects. This resolution followed a special session and after reviewing numerous petitions and complaints from the general public over the matter. Chairman of the committee, Hon....