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08024545197The Nigerian National Petroleum Company Limited (NNPCL) has disputed a Federation Account Allocation Committee (FAAC) report that recorded no domestic crude oil sales in July 2026, saying it supplied more than eight million barrels to Dangote Petroleum Refinery during the month
Niger has prohibited exports of premium petrol and diesel to protect domestic availability, introducing restrictions that allow locally refined fuel to be prioritised for consumers as disruptions to international energy markets intensify
Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has warned that reinstating petrol subsidy could trigger capital flight and weaken the naira to between N3,000 and N4,000 per dollar.
The Federal Government has directed officials overseeing its compressed natural gas (CNG) programme to accelerate vehicle conversions and refuelling infrastructure development as it renews efforts to deploy one million gas-powered vehicles and reduce transportation costs nationwide
Dangote Petroleum Refinery’s initial public offering has drawn subscriptions from more than 90 countries, including 51 African nations, with the share sale scheduled to end on October 27.
The Nigerian National Petroleum Company Limited (NNPCL) has raised its petrol pump price to ₦1,405 per litre, while two Calabar depots have reviewed their prices to ₦1,354 per litre, exceeding the Federal Government’s proposed ₦1,350-per-litre gantry price benchmark
At least eight people sustained burn injuries after a petrol tanker caught fire near Oluku Market along the Benin-Lagos Road in Edo State, damaging parts of the market and destroying several vehicles
A reported failure on an oil transportation line in Aleto, Eleme Local Government Area of Rivers State, has raised concerns about the safety of people living and operating businesses near the affected location
The global diesel supply crunch could persist into the second half of 2027, as refinery disruptions in the Middle East and Russia, coupled with depleted inventories, continue to constrain supplies despite recovering crude oil exports.
U.S. President Donald Trump has criticised Ukraine’s renewed attacks on Russian oil refineries, warning that strikes on facilities producing diesel could push global oil prices higher and worsen fuel supply pressures
The United States is reportedly assessing the possible deployment of its largest non-nuclear bomb against Iran’s nuclear facilities and energy infrastructure if President Donald Trump decides to resume military operations amid stalled efforts to end the conflict
Nigeria’s average daily petrol consumption stood at 41.5 million litres in August 2026, falling 8.5 million litres short of the 50 million litres daily benchmark, a review of the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) August factsheet by Petroleumprice.ng has shown
The Nigerian National Petroleum Company Limited (NNPCL) is addressing gaps in financial reporting and corporate governance as it prepares for a potential initial public offering (IPO), with decisions on restructuring parts of its business expected to form a key part of the listing process
A container ship carrying more than 2,500 containers has sunk south of the Strait of Hormuz after hitting a naval mine, according to Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy, amid renewed concerns over the security of commercial shipping in the strategic waterway
The International Monetary Fund (IMF) has urged the Nigerian government to resist calls to restore broad petrol subsidies, recommending targeted financial assistance and transport support for vulnerable households instead
Nigeria’s crude oil production increased by 2.34 per cent in September to an average of 1.72 million barrels per day, including condensates, extending the country’s run of meeting its Organisation of the Petroleum Exporting Countries (OPEC) production quota to five consecutive months
Dangote Petroleum Refinery and Petrochemicals FZE has reported a $4.73 billion net profit for the nine months ended September 30, 2026, reversing a $117.2 million loss recorded in the corresponding period of 2025 as higher refining throughput and stronger refining margins boosted earnings.
The Nigerian National Petroleum Company Limited (NNPCL) increased its outstanding crude-backed forward sale obligations to ₦7.10tn in 2025, even as it nearly tripled principal repayments and paid ₦686.94bn in interest, according to its audited financial statements for the year
Nigeria’s petroleum industry uses several technical terms to describe fuel products, distribution and energy supply, many of which directly affect consumers and businesses.
Nigeria recorded no aviation fuel imports between June 2025 and June 2026, while Dangote Petroleum Refinery exported an average of 21.30 million litres of Aviation Turbine Kerosene (ATK) daily in August 2026, according to a review of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) data by petroleumprice.ng
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