Depot Prices Weekly Review: 10th – 13th June 2025(depotdata.ng)
As of yesterday, 14th June 2025, depot prices across Nigeria continued to reflect mixed sentiments in the downstream petroleum market.
Moreover, the four-day review spanning 10th to 13th June witnessed modest upward adjustments in petrol (PMS) and diesel (AGO) prices across key depots.
In contrast, aviation fuel (ATK) and LPG prices largely...
Crude Prices Rise: Petrol Price Hike In Nigeria Unlikely As Import Declines
There is no likelihood of petrol pump price hike in Nigeria despite sharp rise in the price of crude in the international market.
Though despite being an oil-producing nation, Nigeria relies heavily on imported petroleum products.
This means that any rise in global oil prices is directly reflected in local fuel pump...
Spiraling Rig Increase Sign Of Revitalised Upstream Oil Sector In Nigeria- NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has reiterated the Commission’s dedication to creating an enabling business environment, regulatory reforms and boosting investors’ confidence.
The Commission noted that these policies have already begun to yield tangible results, citing a significant increase in rig activity from 11 rigs prior to the Petroleum...
Oil Prices Predicted To Hit $100 Per Barrel With Escalated Middle East Crisis
Experts are predicting unprecedented oil prices hike with the spiral of military strikes between Israel and its neighbor’s.
Israel’s attack on Iran is unlikely to cause a major disruption to oil supply, analysts at two major banks said, but a worst-case scenario involving blockades in the Strait of Hormuz could push...
Brent Crude Jumps to $76 After Israel Bombs Iran Sites
Global oil markets reacted swiftly on Thursday night after Israel launched multiple airstrikes on Iranian nuclear facilities. As at 5:20 AM 13th June, 2025, the tension sent Brent crude prices soaring to $76.13 per barrel, up by 9.76%, while WTI crude also jumped by 9.77%, trading at $74.69. Murban crude...
Oil Prices To Stay Within $60 Per Barrel Bracket Through 2025- JP Morgan
There are no major signs suggesting a sharp rise in the prices of oil even with Middle East tension.
JP Morgan had on Thursday downplayed geopolitical concerns and maintained its base case forecast for oil prices to stay in the low-to-mid $60s through 2025 and $60 in 2026, but said certain...
NNPCL Declares N748Bn Profit After Tax In April
The Nigerian National Petroleum Company (NNPC Ltd) said it recorded revenue of N5.891trn in April 2025.
In its NNPC Limited Monthly Report Summary for the month of April 2025, the company also declared a Profit After Tax (PAT) of N748 billion for April.
The company added that it carried out statutory transfers...
Budget at risk over analysts’ $50 oil outlook.
Nigeria’s economy is bracing for fresh turbulence as global oil market analysts warn of a potential decline in crude prices below $50 per barrel in the second half (H2) of 2025. The outlook, driven by weakening global demand growth and surging supply, could severely undermine the West African nation’s 2025...
Role Of Natural Gas In Africa’s Energy Future
Africa is at a turning point in its energy journey
As cities expand and industries grow, the demand for electricity is rising fast. By 2040, Africa will need nearly 1,200 gigawatts of power, yet 600 million people still lack electricity, holding back development, healthcare, and education.
This creates a major challenge: How...
Nigeria Advances In Decade Of Gas With North East’s First LCNG
Nigeria is scaling up gas utilization initiatives with the launching of the first Liquefied to Compressed Natural Gas (LCNG) facility in North-East Nigeria located in Yola.
The Minister of State for Petroleum Resources, Mr Ekperikpe Ekpo, on Tuesday, performed the groundbreaking ceremony.
Speaking at the event on Tuesday, Ekpo described the development...
Top 10 African Countries with the lowest Fuel price in May 2025
With global oil price instability and economic uncertainty, inexpensive gasoline remains a critical component of economic stability, social welfare, and sustainable development across the continent.
It's no secret that low fuel prices help firms reduce operational expenses, especially in areas such as manufacturing, logistics, and agriculture.
This decrease not only enhances profit...