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Fuel Pump Prices Rise Faster than Crude in US

Fuel prices in the US have surged faster than crude oil prices in the last month, as the country shipped more...

Analysis: Nigeria, Angola Responsible For Almost Half of OPEC+ Oil Supply Gap

Almost half the shortfall in planned oil supply by OPEC and its allies is down to Nigeria and Angola, data seen...

Ukrainian Civilians Queue for Fuel Due To Shortages

Millions of other Ukrainian civilians likely face several weeks – possibly longer – of fuel disruptions due to Moscow's attacks on...

Oil Price Falls, As China Lockdowns Outweigh Proposed EU Russia Oil Ban

Oil prices fell by more than 2% on Tuesday as demand worries stemming from China's prolonged COVID-19 lockdowns outweighed the prospect...

PENGASSAN Vows to Address Casualization in Oil, Gas Industry

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) said it would ensure that issues of casualisation in the...

PIA Takes Effect in Upstream Oil Sector Regulation

The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its last week activities with a move by stakeholders to begin the...

Dangote Refinery to Reduce Nigeria’s FOREX Demand By 40% – CBN

There is hope that Nigerian government will record a reduction of at least 40% demand for foreign exchange being...

Nigeria’s Oil Earnings Drop by N75.9bn, despite Monthly Price Hike – Report

Nigeria’s earnings from crude oil plunged by about N75.9bn in February and March this year despite the increase in global oil...

Oil prices fall 5% after IMF cuts growth outlook

Oil prices were down about 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut...

Navy Impounds Vessels Engaged In Oil Theft, Arrests Crew Members

Operatives of Nigerian Navy’s “Operation Dakatar Da Barawo’’ (OPDDB) have seized several ships and wooden boats engaged in crude oil theft.

NNPC intensifies Efforts to End Fuel Importation

The Nigerian National Petroleum Company Limited (NNPC Ltd.) started its activities for the week with a tour of the Port Harcourt...

Nigerian Lawmakers Approve N4trn for Fuel Subsidy

The House of Representatives on Thursday approved N4 trillion for fuel subsidy in the revised 2022 Medium-Term Expenditure Framework (MTEF) sent...

Most Read

No Plan to cut Ties with our Nigerian Mercedes-Benz Dealers, says Weststar

Weststar Associates Limited, Nigeria’s authorized General Distributor of Mercedes-Benz has refuted any plan or possibility to sack its distributors across the...

FRSC Honours Motorist for Strict Compliance to Traffic Regulations

The Federal Road Safety Corps (FRSC) has honoured a motorist, Mr Ade Omolewa, for his strict compliance to road traffic rules...

Reps to Investigate NNPC Fuel Subsidy Claim

The House of Representatives has constituted an Ad-hoc Committee to investigate the Petroleum Products Subsidy regime between 2017 and 2021 by...

Oil falls 3% on Uncertainty over Future OPEC + Output, Recession Fears

Oil prices sank around 3% on Thursday as OPEC+ confirmed it would only increase output in August as much as previously...