Nigeria Exceeds OPEC Oil Quota for Fifth Straight Month
Nigeria maintained crude oil production above its OPEC quota for the fifth consecutive month in September, with average daily output of crude oil and condensates rising by 2.34 per cent…
PIA Five Years On: Stakeholders Demand Faster Reforms
Five years after its enactment, Nigeria’s Petroleum Industry Act (PIA) faces calls for stronger implementation to unlock investment and production growth. Stakeholders at the PENGASSAN Energy and Labour Summit in…
Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026: Tinubu Signs Deal to Unlock $50bn Investment
President Bola Ahmed Tinubu has signed the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, in a move the Federal Government says could attract up to $50…
Aradel Holdings Revenue Soars as Profit Growth Slows
Aradel half-year results showed exceptional revenue growth in the first six months of the year, although rising costs limited the increase in net profit. Aradel Holdings reported that revenue for…
South-West Leads Nigeria’s Fuel Consumption
South-West fuel consumption remained the highest in Nigeria during the first half of 2026, with the region leading petrol, diesel and cooking gas demand. The Major Energies Marketers Association of…
Nigeria’s Crude Oil Earnings Drop 14.4% in 2025
Nigeria crude oil exports declined sharply in 2025 as lower global oil prices reduced the Federal Government’s earnings despite continued demand from key international markets. The Central Bank of Nigeria…
Nigerian Navy Seizes Tanker Carrying Stolen Crude Oil
The Eastern Naval Command (ENC) of the Nigerian Navy has arrested an oil tanker, MT FILIA (IMO No. 8662684), for allegedly transporting 650 metric tonnes of stolen crude oil valued…
FG Targets 300,000bpd Boost from Licensing Round
The Federal Government says the ongoing 2025 Licensing Round is expected to increase Nigeria’s crude oil production by at least 300,000 barrels per day (bpd) within the next three years,…
ECOWAS Backs Nigeria-Morocco Gas Pipeline
West African leaders have approved the construction of the Nigeria-Morocco Gas Pipeline after signing a key agreement during the ECOWAS summit in Freetown, Sierra Leone. The landmark project will strengthen…
FG Demands Tighter Petrol Oversight as Deregulation Raises Concerns
The Federal Government has urged stakeholders in Nigeria’s petroleum industry to strengthen monitoring of fuel dispensing and pricing, expressing concern that some operators are using petroleum sector deregulation in Nigeria…
