NNPC reduces petrol price to N900 in Lagos, N940 in Abuja
The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of petrol at its stations in Lagos and Abuja.
According to The Cable, petrol now sells for N900 per litre in Lagos and N940 per litre in Abuja as of Thursday. This marks a slight drop from the previous...
Falcon Corporation welcomes strategic investment from Energy& LLP
Falcon Corporation Limited, a leading indigenous player in Nigeria’s energy and gas sector, has announced that Energy& LLP, a subsidiary of EverCorp Industries, has acquired an equity stake in Falcon Corporation.
This follows BKM & S KonsultLimited’s divestment of its equity holding, which Energy& LLP has now purchased.
The investment by Energy&...
Shell completes acquisition of increased interest in Nigeria’s deep-water Bonga field
London – Shell Nigeria Exploration and Production Company (SNEPCo), a subsidiary of Shell plc, has completed the previously announced agreement and increased its stake in the OML 118 Production Sharing Contract (OML 118 PSC) from 55% to 65%.
Following our final investment decision on Bonga North last year, this acquisition represents...
Europe Rejects Dangote Diesel Over Failure to Meet Winter Standards
Nigeria’s Dangote Refinery has come under renewed scrutiny after European buyers reportedly declined its latest diesel shipments for failing to meet the region’s strict winter specifications. According to Oilprice.com, the rejected cargoes highlight one of the refinery’s most significant quality-control challenges to date, raising fresh questions about compliance processes at...
FG hails Ebenco Refinery as game-changer against illegal oil refining
The Federal Government has endorsed the Ebenco Global Link Limited modular refinery project in Koko, Delta State, describing it as a critical milestone in efforts to curb crude oil theft, illegal refining, and chronic supply gaps in Nigeria’s petroleum sector.
Ebenco is advancing construction of its 30,000-barrel-per-day modular refinery, which the...
Nigeria’s Petrol Imports Drop After Dangote Partners with Marketers
Nigeria’s petrol market is entering a new era, one defined not by foreign cargoes cruising in from Malta or the Mediterranean, but by vessels lifting product right here at home, directly from the Dangote Petroleum Refinery’s Lekki coastline. The shift is quiet but unmistakable, and it is reshaping the downstream...
NNPCL Declares ?29.21tr in Revenue From Crude Oil Sales in 2024
The Nigerian National Petroleum Company Limited (NNPCL) delivered its strongest revenue performance on record in 2024, earning ?29.21 trillion from crude oil sales more than double the ?14.07 trillion recorded in 2023. The leap, disclosed in the company’s newly released audited financial statements, reflects rising output, stronger export uptake, and...
Nigeria’s 2025 Oil Bid Round: A New Vista for Energy Transformation and Investor Confidence
Nigeria appears set for another decisive round of oil field development, coming just a year after a successful bid cycle that delivered new oil wells and expanded the nation’s crude oil production capacity. Signalling a shift toward structured and predictable upstream governance, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recently...
Dangote Picks Honeywell for Major Refinery Expansion
Nigeria’s refining sector has gained fresh momentum as Dangote Industries selects Honeywell to drive the next phase of its ambitious capacity expansion. The move positions the Dangote Refinery to double output to 1.4 million barrels per day (bpd) by 2028, reinforcing its bid to become the world’s largest petroleum refining...
NNPCL Unveils New Roadmap To Achieve Target, Records N5.4 Trillion Profit.
The Nigerian National Petroleum Company Limited (NNPCL), has unveiled its strategic roadmap to drive sustained growth and support Nigeria’s energy transition through 2030.
This is as the state oil company announced its financial performance for the full year ended
2024 showing a Profit After Tax (PAT) of ?5.4 trillion on revenue of...