35 h. ago Local production of oil pipelines ‘ll complement foreign importation – FG

The Federal Government has vowed to continue to encourage the development and sustainability of oil and gas local content production. The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, stated this on Thursday during the launch of Monarch Alloys 33LPE and concrete weight coating facility in the Ikorodu area of Lagos State. According to Lokpobiri, the […] The post Local production of oil pipelines ‘ll complement foreign importation – FG appeared first on The Sun Nigeria.

Politics

8 d. ago NSCDC Uncovers Five Illegal Oil Dumps, Arrests Seven In Abuja

The Nigeria Security and Civil Defence Corps has uncovered five illicit crude oil dumps in the Jahi/Katampe area of Abuja. This was revealed in a statement issued on Thursday in Abuja by the NSCDC Spokesperson, Afolabi Babawale. Seven people connected to the illicit production and distribution of crude oil were also confirmed to have been […] The post NSCDC Uncovers Five Illegal Oil Dumps, Arrests Seven In Abuja appeared first on Information Nigeria.

Events

9 d. ago NNPC Ltd unveils $60bn investment target, 2m bpd oil production

From Adewale Sanyaolu The Nigerian National Petroleum Company (NNPC) Limited has announced ambitious goals to attract $60 billion in sectoral investment and achieve a daily crude oil production of two million barrels per day (bpd). Group Chief Executive Officer Bayo Ojulari shared these targets at a townhall meeting held at NNPC Towers in Abuja on […] The post NNPC Ltd unveils $60bn investment target, 2m bpd oil production appeared first on The Sun Nigeria.

Politics

9 d. ago NSCDC uncovers five illegal crude oil dumps in Abuja, arrests seven

The Nigeria Security and Civil Defence Corps has uncovered five illegal crude oil dumps in the Jahi/Katampe axis of Abuja. This is contained in a statement issued by the NSCDC Spokesperson, Afolabi Babawale, on Thursday in Abuja. The corps also confirmed the arrest of seven suspects linked to the illegal crude oil production and distribution. Read More

Events

9 d. ago NEDC to train 100, 000 secondary school teachers, school administrators in northeast

The North-East Development Commission (NEDC) has commenced training of 100,000 teachers and school administrators for effective and efficient service delivery, read more NEDC to train 100, 000 secondary school teachers, school administrators in northeast

Politics

1 week ago Nigeria still Africa’s top crude oil producer despite March output decline –OPEC

From Adanna Nnamani, Abuja Nigeria has retained its status as Africa’s largest crude oil producer, although with a decrease in output for the month of March. This is according to the latest report from the Organisation of the Petroleum Exporting Countries (OPEC). In its monthly report released on Monday, OPEC reported that Nigeria’s oil production […] The post Nigeria still Africa’s top crude oil producer despite March output decline –OPEC appeared first on The Sun Nigeria.

Politics

1 week ago Nigeria remains Africa’s top crude oil producer despite March output decline

From Adanna Nnamani, Abuja Nigeria has retained its status as Africa’s largest crude oil producer, although with a decrease in output for the month of March. This is according to the latest report from the Organisation of the Petroleum Exporting Countries (OPEC). In its monthly report released on Monday, OPEC reported that Nigeria’s oil production […] The post Nigeria remains Africa’s top crude oil producer despite March output decline appeared first on The Sun Nigeria.

Politics

2 w. ago 2024 Bid Round: 10 Oil Block Awardees Begin Production — NUPRC

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that 10 of the oil block awardees from the 2024 bid round have commenced production activities. This development marks a significant milestone in Nigeria’s efforts to boost oil production and revenue. This is as the Nigerian National Petroleum Company Limited (NNPC) reported that the Ajaokuta-Kaduna-Kano (AKK) […]

Politics

2 w. ago Petrol price, oil imports to drop as FG announces continuation of naira

By Adewale Sanyaolu Hopes of a further drop in fuel price brightened yesterday as the Federal Government announced the continuation of the Naira-for-Crude policy. In a statement, the ministry of finance announced that the decision to sustain the initiative was taken after a meeting of the technical sub-committee on the crude and refined product sales […] The post Petrol price, oil imports to drop as FG announces continuation of naira-for-crude deal appeared first on The Sun Nigeria.

Politics

2 w. ago Nigeria posts first balance of payments surplus in three years

Nigeria recorded its first balance of payments surplus in three years as reforms including boosting oil and gas production, removing read more Nigeria posts first balance of payments surplus in three years

Politics

2 w. ago BUA Group partners Alfa Laval to build 1000MT palm oil refinery in Nigeria

To close the production gap in the palm oil value chain in Nigeria, BUA Group and Alfa Laval PVT Limited read more BUA Group partners Alfa Laval to build 1000MT palm oil refinery in Nigeria

Politics

2 w. ago Goldman Sachs Slashes Oil Price Forecast To $58/b On Recession Fears

Goldman Sachs has slashed its oil prices forecasts again and now expects Brent Crude to average below $60 per barrel next year, at $58, amid recession risks, slowing demand, and more supply from the OPEC+ producers. The investment bank had previously forecasted oil demand growth at 600,000 barrels per day (bpd) this year but now […]

Economics

2 w. ago Afreximbank sets up $3bn fund to finance refined oil products in Africa

The African Export-Import Bank (Afreximbank), an investor in oil and gas projects, has earmarked $3bn to finance the purchase of read more Afreximbank sets up $3bn fund to finance refined oil products in Africa

Politics

2 w. ago Crude crash: FG’s 2025 budget jerks again, marketers anticipate price cut

The global crash in crude oil prices has put Nigeria’s 2025 budget under more threat, even as fuel marketers await a possible reduction in the prices of petroleum products. According to experts who spoke with our correspondent, the crude oil crash occasioned by the tariffs imposed on countries by United States President, Donald Trump, has Read More

Events

2 w. ago Army arrests 43 oil thieves, destroys 14 illegal refineries in Niger Delta

The Nigerian Army, 6 Division said its operatives have arrested 43 suspected oil thieves and recovered 254,000 litres of stolen products in the Niger Delta region. The Army said a total of 14 illegal refineries were also destroyed, while 14 boats used for the illicit activity were destroyed. The Acting Deputy Director 6 Division Army Read More

Events

3 w. ago Oil Production Threatened In Bayelsa Over Dispute On Security Vessel Contract

Nigeria’s already fragile oil production faces a new crisis as host communities in Bayelsa State have threatened to halt operations at key oil fields within 14 days, citing a dispute over security vessel contracts. The communities, under the KEFFES umbrella, were demanding that NNPC Exploration & Production Limited (NEPL) reverse its decision to terminate its […]

Politics

3 w. ago Heirs Energies To Deliver 100,000 Barrels Of Oil Production Daily

Heirs Energies is making significant investment progress as it prepares to exert more pressure to deliver more oil from its field assets in Nigeria. The company’s chief executive officer (CEO), Osayande Igiehon, while delivering insights on African energy leadership at the inaugural Congo Energy & Investment Forum held in Brazzaville from March 24-26, 2025, said,: […]

Politics

3 w. ago Tension as host communities threaten oil production shutdown 

Nigeria’s oil production faces a fresh crisis as host communities in Bayelsa State’s coastal region have issued a 14-day ultimatum to NNPC Exploration & Production Limited, threatening to shut down operations at Oil Mining Leases 86 and 88 if their grievances over security contracts are not addressed. The ultimatum, conveyed in a letter dated March Read More

Events

3 w. ago Tension as host communities threaten oil production shutdown

Tribune Online Tension as host communities threaten oil production shutdown Nigeria’s oil production faces a fresh crisis as host communities in Bayelsa State’s coastal region have issued a 14-day ultimatum to NNPC Exploration & Production Limited (NEPL), threatening to shut down operations at Oil Mining Leases (OMLs) 86 and 88 if their grievances over security contracts are not addressed. Tension as host communities threaten oil production shutdown Tribune Online

Events

3 w. ago Heirs Energies advises Congo on 500,000 p/d oil crude production target

Heirs Energies Chief Executive Officer Osayande Igiehon has advised the Republic of Congo on its plan to ramp up crude production to 500,000 barrels per day. Igiehon spoke on African energy leadership at the inaugural Congo Energy & Investment Forum held recently in Brazzaville. Speaking on the themes ‘Energy & Investment Outlook’ and ’Field Development Read More

Politics