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08024545197Refined petroleum products have emerged as the United Kingdom’s largest goods import from Nigeria, accounting for 47.5 per cent of total Nigerian goods imported by Britain in the 12 months ended March 2026, according to the latest UK trade data
Nigeria has revived its long-delayed plan to list Nigerian National Petroleum Company Limited (NNPCL) on the Nigerian Exchange Group (NGX), reopening a proposal that has remained largely dormant for about a decade and renewing expectations that the country’s state-owned oil giant could finally enter the public market.
Fuel retail operators across Nigeria continue to manage reporting, inventory, and financial tracking through fragmented channels such as WhatsApp, spreadsheets, emails, and phone calls. Obinna Joshua Igwe, Managing Director of Mainland Energy Systems & Technologies Ltd, speaks to Petroleumprice.ng on MEST OS, a platform built to replace that patchwork with a single operating system.
Ukraine has targeted two major oil refineries deep inside Russian territory in a series of drone attacks that Kyiv said were intended to disrupt Moscow’s oil revenues and its ability to fund military operations
Nigeria’s fuel subsidy bill reached N1.16 trillion in 2021, while another N1.20 trillion was deducted from crude oil sales proceeds during the year, according to the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC)
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has proposed sweeping new regulations that would outlaw fuel price fixing, coordinated supply restrictions and other anti-competitive practices in Nigeria's petroleum industry as the regulator seeks to strengthen competition and improve transparency across the downstream and midstream sectors
Oil prices rebounded on Wednesday after recent declines, prompting fresh attention across Nigeria's downstream petroleum market, where marketers are closely assessing whether expectations of lower fuel prices will hold if the recovery in crude prices gathers momentum
India's Hindustan Petroleum Corporation Limited (HPCL) has selected two of Nigeria's premium crude blends, Utapate and Okwuibome, to supply its Rajasthan refinery in September, highlighting sustained demand for the country's newer and high-quality export grades in the Asian market
Dangote Industries has initiated the regulatory approval process for a proposed 1.6 million-barrel petroleum storage terminal in Namibia, marking the first formal step toward expanding its fuel distribution network across Southern Africa
The Federal Government has unveiled plans to gradually phase out crude oil exports as Nigeria ramps up domestic refining capacity, signalling a major shift towards exporting higher-value refined petroleum products instead of raw crude.
OPEC+ has concluded the phased restoration of its 1.65 million barrels per day (bpd) voluntary production cuts introduced in 2023 after approving a final 188,000 bpd output increase for September, completing a supply adjustment programme that has guided the alliance's production policy over the past year
Nigeria delivered an average of 2.05 billion standard cubic feet (Bscf) of gas per day to the domestic market during the first half of 2026, but the volume still fell 35 per cent short of the country's Domestic Gas Delivery Obligation (DGDO), highlighting persistent infrastructure constraints despite ongoing regulatory reforms.
Vehicles running fully on compressed natural gas, liquefied petroleum gas or electric power will now enter Nigeria free of import duty and Value Added Tax, following approval from the Federal Ministry of Finance under the Presidential Gas for Growth Initiative.
The Nigerian National Petroleum Company Limited (NNPCL) has confirmed the deployment of more than 1,000 young professionals into its workforce after they successfully completed a one-year programme that combined internship, intensive training and performance evaluation
Seplat Energy Plc has entered into a binding agreement to divest a 10 percent working interest in its joint venture assets to the Nigerian National Petroleum Company Limited (NNPCL) in a transaction valued at approximately $281.6 million, while retaining operational control of the assets
Global diesel markets have become the primary source of supply concerns in the oil sector as refinery disruptions and lower processing activity continue to constrain fuel availability, according to Goldman Sachs
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has called for the development of an African fuel pricing benchmark, saying the continent should establish its own reference mechanism to support expanding refining capacity, improve price discovery and strengthen regional petroleum trade
The Federal Government has described the Dangote Petroleum Refinery as a strategic industrial asset capable of accelerating Nigeria's manufacturing growth and supporting the country's ambition of building a $1 trillion economy, as the company disclosed that the facility will process approximately 2.5 percent of globally traded crude oil when it reaches full operational capacity
Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, has described the development of the 700,000-barrels-per-day Dangote Petroleum Refinery as the biggest business risk of his career, saying many financiers doubted the project would ever be completed.
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