Dangote Petroleum Refinery has trimmed N25 off the gantry price of Premium Motor Spirit (PMS), dropping its ex-depot rate from N799 to N774 per litre in a move set to heighten competition in Nigeria’s downstream market. The refinery notified marketers of the adjustment on Tuesday, confirming that the new nationwide price takes immediate effect. “This…
Oil prices rose on Friday, set for a weekly gain, on growing supply worries linked to the intensifying protests in oil-producing Iran and an escalation of attacks in Russia’s war in Ukraine. Brent futures were up $1.58, or 2.55%, to $63.57 per barrel at 12:41 p.m. ET (1741 GMT), while U.S. West Texas Intermediate (WTI) crude…
Oil prices fell on Wednesday and recorded an annual loss of nearly 20%, as expectations of oversupply increased in a year marked by wars, higher tariffs, increased OPEC+ output and sanctions on Russia, Iran and Venezuela. Brent crude futures shed about 19% in 2025, the most substantial annual percentage decline since 2020 and its third…
OPEYEMI OLOTU Nigeria’s push toward energy independence has taken a decisive leap forward as the Federal Government, through the Midstream and Downstream Gas Infrastructure Fund (MDGIF), concluded talks with Chinese industrial giant, Endurance Group, to roll out 500 Compressed Natural Gas (CNG) refuelling stations nationwide within three years — a move expected to transform transportation,…
