OPEC+ has decided to proceed with a planned April oil output hike, the group said on Monday, a move that follows U.S. President Donald Trump renewing pressure on OPEC and Saudi Arabia to bring down prices. The increase is the first since 2022 from OPEC+, which includes the Organization of the Petroleum Exporting Countries, plus Russia and […]Read More
The Independent Petroleum Producers Group (IPPG) has lauded President Bola Tinubu for his bold policy reforms and visionary leadership in revitalising Nigeria’s energy sector. HIGHLIGHT At the 8th Nigeria International Energy Summit (NIES 2025) opening ceremony, Abdulrazaq Isa, IPPG Chairman, highlighted the administration’s role in driving industry advancements, restoring investor confidence, and positioning Nigeria as […]Read More
Shell has pledged support for the recent reforms in the oil and gas industry in Nigeria, describing them as a good way to reposition the sector for growth and profitability. IMPROVEMENT IN NIGERIA OIL & GAS “We welcome the reforms by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) which have already improved crude oil production […]Read More
NLNG has called for energy security to be made national priority and emphasised the need for proactive measures to protect energy infrastructure and drive sustainable growth. Speaking at NLNG panel session titled “Driving Cross-Continental Investments: Scaling Africa’s Energy Frontier” at the 8th Nigeria International Energy Summit (NIES), Philip Mshelbila, NLNG’s Managing Director and Chief Executive […]Read More
The ample supply to check oil prices despite political uncertainty is imminent as analysts are holding their oil price predictions largely steady as they expect any impact from further U.S. sanctions to be balanced by ample supply and a possible peace deal between Russia and Ukraine, a Reuters poll showed. Ample supply is significant base […]Read More
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revealed that Nigeria’s technical potential for crude oil production stands at 2.24 million barrels per day (bpd), significantly higher than the current production quota of 1.75 million bpd. This announcement was made by Gbenga Komolafe, the Chief Executive of NUPRC, during the ongoing Nigeria International Energy Summit […]Read More
Dangote Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N890 to N825 per litre. This new pricing will take effect on February 27, 2025, marking the refinery’s second price cut this month. Earlier in the month, on February 1, the refinery had already reduced […]Read More
Indigenous oil producers, the Independent Petroleum Producing Group (IPPG) has praised the federal government for successfully concluding divestment deals by International Oil Companies (IOCs) in Nigeria. According to the IPPG, these divestments have significantly increased the activities of indigenous companies, which now contribute approximately 50% to the country’s total oil production. Abdulrazaq Isa, Chairman of […]Read More
Nigerians may face petrol shortages in the coming days as the Independent Petroleum Marketers Association of Nigeria (IPMAN) has threatened a nationwide strike over unpaid bridging claims amounting to N100 billion. The association announced this plan during a press briefing in Abuja on Monday, issuing a seven-day ultimatum to the Nigerian Midstream and Downstream Petroleum […]Read More
The Shell Petroleum Development Company of Nigeria Limited (SPDC) has called for continuous partnership between professional associations in the oil and gas industry and government agencies to ensure the sector contributes more effectively to the socio-economic development of Nigeria. Such collaboration could result in investments in research and development that will ensure technological innovations not […]Read More
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