Oil & Gas

Nigeria, Africa’s largest crude oil producer, is facing a serious revenue challenge after the United Arab Emirates officially announced its withdrawal from the Organisation of the Petroleum Exporting Countries (OPEC), effective May 1, 2026. The development is sending shockwaves through global energy markets, and the consequences for Nigeria could be…

Petrol prices may move closer to N1,400 per litre in parts of Nigeria after Dangote Petroleum Refinery raised its loading price for Premium Motor Spirit to N1,275 per litre. The latest increase has already triggered fears of another round of pump price hikes across the country, especially in areas far…

The National Bureau of Statistics released its Premium Motor Spirit Price Watch for March 2026, and the data shows meaningful gaps between states at the top and bottom of the pricing table. For motorists, transporters, and farmers trying to manage costs, those gaps matter. Some states are absorbing the pressure…

The Nigerian National Petroleum Company has confirmed that the country’s crude oil production reached 1.71 million barrels per day between April 2025 and April 2026, the highest output level Nigeria has achieved in five years. The milestone arrives on the back of upstream improvements, infrastructure delivery, and a raft of…

Nigeria’s oil industry is changing in a big way. Big foreign companies like Shell and ExxonMobil are stepping back from many onshore assets.  As they leave, Nigerian companies and powerful local groups are taking over. To understand who owns Nigeria’s oil blocks in 2026, you have to look past the…