December 22, 2025 Shell and INEOS Energy have struck oil at a deepwater exploration well in the U.S. Gulf of Mexico, confirming a new discovery in the high-pressure Norphlet formation. Shell and INEOS Energy said the Nashville exploration well encountered high-quality oil more than 26,000 feet below the seabed, according to industry reporting The well was drilled […]Read More
The Dngote Refinery has announced again sliced down of petrol price by 15.58% from ₦828 to ₦699 per litre, effective December 11, 2025. The latest adjustment marks about the 20th price review this year, reinforcing the refinery’s aggressive pricing strategy as the festive travel season intensifies across Nigeria. The reduction in price is not due to yuletide period as insinuated but […]Read More
November 13, 2025 Oil prices steadied on Wednesday after a sharp 4% slide the day before, with Brent trading near $63.08 and WTI around $58.80 at 11:01 a.m. ET, as traders reassessed the latest OPEC shift toward a more balanced 2026 market outlook. The passage of the U.S. funding deal that ended the government shutdown removed one macro problem, […]Read More
The Nigerian National Petroleum Company Limited (NNPC Ltd.) is fast-tracking its transformation through strategic investments in infrastructure, governance reforms, and operational efficiency, positioning the company for a landmark Initial Public Offering (IPO). Under its “Fit for the Future” strategy, NNPC Ltd. aims for global competitiveness, public listing, and a pivotal role in connecting Africa to […]Read More
Honourable Justice M.G. Umar of the Federal High Court sitting in Abuja, today dismissed the suit filed by Dangote Petroleum Refinery and Petrochemicals FZE against the Nigerian Midstream and Downstream Petroleum Regulatory Authority and six others. The dismissal was sequel to a notice of discontinuance filed by Dangote Refinery and Petrochemicals FZE, after all […]Read More
November 03, 2025 Bharat Petroleum, one of the largest refiners in India, has bought a cargo of Emirati Upper Zakum crude, as it seeks alternatives to Russian oil, Reuters has reported, citing unnamed sources. The cargo is 2 million barrels, to be delivered next month. Bharat Petroleum bought it on the spot market, where it previously […]Read More
October 29, 2025 India’s biggest refiner, state-held Indian Oil Corporation Ltd, is preparing to launch in early 2026 a trading joint venture with the world’s biggest independent oil trader, Vitol, to trade crude and fuels, a source familiar with the plans told Reuters on Wednesday. Indian Oil, which together with its unit Chennai Petroleum holds about 31% […]Read More
October 24, 2025 Global Exports of liquefied natural gas increased to 34.59 million tons last month, which was the highest on record, the Gas Exporting Countries Forum reported. The global increase was driven by a boost in imports, at an annual 3.7%, which in turn was driven by a surge in demand in the European […]Read More
21st October 2025 The House of Representatives on Tuesday resolved to intervene in the recent face-off between members of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Dangote Refinery, which had disrupted petroleum product distribution nationwide. The resolution of the House followed the consideration and adoption of a motion of […]Read More
October 16, 2025 Gasoline markets in Africa and nearby regions are tightening as the biggest refinery in Africa, the Dangote plant in Nigeria, has slashed crude oil purchases in recent weeks amid operational challenges. The refinery is set to buy fewer than 300,000 barrels per day (bpd) of crude oil in October, Bloomberg reported on Thursday, […]Read More
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