Oil & Gas

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has moved forward with the nation’s 2025 oil and gas licenses issuance by shortlisting pre-qualified bidders for the competitive phase. This is an important step toward attracting new upstream investment and opening up exploration opportunities across Nigeria’s sedimentary basins. On Tuesday, Eniola Akinkuotu,…

Global oil prices have surged past the $100-per-barrel mark. Escalating tensions involving Iran and threats to block the strategic Strait of Hormuz are shaking energy markets. It is raising fears of a major supply disruption. This spike shows growing concern that one of the world’s most critical oil transit routes…

Nigeria’s fuel market faced challenges this week as petrol prices surged by about 13 percent within just 48 hours. This spike resulted from increasing tensions involving the United States, Israel, and Iran, which have affected global energy markets. The sudden rise in prices followed a jump in international crude oil…

Global oil markets are experiencing a major shock as the ongoing conflict in the Middle East has driven oil shipping rates to record highs. It has disrupted tanker traffic in a key shipping route and created new waves of volatility in international energy supply chains. Supertanker freight rates reflected the…

Dangote Petroleum Refinery & Petrochemicals has signed an important agreement to supply up to 65 million litres of petrol (Premium Motor Spirit) daily across the country. This will help meet national demand and position Nigeria toward real fuel self-sufficiency. The deal, finalized with a group of 12 major petroleum marketing…