As part of efforts to improve the country’s daily production of hydrocarbon potential, crude oil producers operating in Nigeria have invested a total sum of $8 billion in providing rig infrastructure, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed on Wednesday. The amount invested within three years, between 2022 and 2025, has resulted in a significant boost to drilling activity …

Dangote Petroleum Refinery on Tuesday further dropped the ex-depot price per litre of petrol from ₦840 to ₦820. In an update, a spokesman for the refinery, Mr. Tony Chiejina, confirmed the ₦20 marginal reduction, which occurred about one week after the $20 billion refinery dropped ex-depot petrol price from ₦880 to ₦840 on June 30, 2025. Chiejina said that the …

The Organisation of Petroleum Exporting Countries and its allies (OPEC) yesterday gave the go-ahead to eight of its members and allies, excluding Nigeria, to pump an additional 548,000 barrels per day starting in August. The increase, which is equivalent to roughly 0.5 per cent of global production, is a step up from recent months when the group announced increases of …

The Nigerian National Petroleum Company Limited, NNPCL, has reduced its premium motor spirit price. DAILY POST correspondent gathered that the NNPCL retail outlets in Abuja on Saturday slashed their petrol pump price to N910 per litre from N945. This was the case in NNPCL filling stations in Zone 6, Kubwa Expressway, Wuse Zone 4, and other parts of Abuja. The …

The Federal Government has fixed 23 and 24 July 2025, for a national stakeholder forum to address mounting concerns over petrol pricing and supply dynamics in the downstream sector, amid growing agitation by independent marketers for price regulation. The planned summit, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), is expected to bring together industry operators, marketers, …

The Chief Executive Officer of Seplat Energy Plc, Mr. Roger Brown has said that NNPC Limited (NNPCL) has cleared its legacy debts and now operates with improved financial alignment and discipline, a development he described as ‘a game changer’ for indigenous oil producers. During a high-powered panel session titled ‘Harnessing Africa’s Energy Shift – From Acquisition to Optimisation’ at the …

Petroleum products marketers have reduced the price of Premium Motor Spirit (PMS). The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi told DAILY POST on Wednesday that members in North, including Abuja, have slashed PMS prices to between N930 and N940 per litre from N945 and N975. In Lagos State, Maigandi said its members dispense …

Dangote Petroleum Refinery has rolled out a game-changing initiative, with the investment of over N720 billion in the acquisition and deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks to distribute refined petroleum products nationwide. The move, which takes effect from 15 August, is projected to save Nigerian consumers over N1.7 trillion annually, slash fuel distribution costs, and boost economic productivity …

Amid cries of crude shortage by local refineries in Nigeria, the country exported 82 per cent of its crude oil in the first quarter of 2025, The PUNCH report. According to a report published by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), only 18 per cent of the crude was made available to local refineries. Nigeria has the Dangote Petroleum …

Again, the Senate has issued a 10 day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) to respond to 11 critical financial queries related to discrepancies in its audited financial statements, warning that failure to comply could attract serious constitutional consequences. The Committee on Public Accounts, Senator Aliyu Wadada, SDP, Nasarawa West at a resumed hearing yesterday however rejected …