4 h. 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

19 h. ago Oil price slump as tariff tension pushes Nigeria’s FX market into turbulence

By Chinwendu Obienyi Nigeria’s foreign exchange (FX) market is once again facing renewed volatility as global economic uncertainties, driven by slumping oil prices and protectionist trade measures from the United States, continue to exert pressure on the naira and the nation’s external reserves. Daily Sun gathered that despite demand pressures and intervention by the Central […] The post Oil price slump as tariff tension pushes Nigeria’s FX market into turbulence appeared first on The Sun Nigeria.

Politics

37 h. ago Firm to unveil survey on Nigeria’s oil, gas reforms April 17

A research and advocacy organisation, Good Governance Africa, is set to host a high-level dialogue on Nigeria’s oil and gas sector reforms, as part of its ongoing efforts to promote good governance and sustainable development across Africa’s largest economy. The event, scheduled for April 17 in Lagos, will feature the public presentation of survey findings Read More

Politics

50 h. ago Allegation Linking PINL To Ugborodo Oil Facility Protest Misleading, Says Warri Monarch’s Rep

  The sole representative of the Olu of Warri to NNPC/JV Partners, Prince Collins Oritsetimeyin Edema, has described allegation linking oil surveillance company, Pipeline Infrastructure Nigeria Limited (PINL) to the protest which disrupted Ogidigben oil field in Ugborodo, Warri South-West local government area of Delta State as totally misleading and false. Edema’s reaction followed remarks […]

Politics

56 h. ago Nigeria’s oil reserves hit 37.28n barrels, gas reserves reach 210.54 TCF – NUPRC

From Adanna Nnamani, Abuja Nigeria’s total proven and probable (2P) crude oil, condensate, and gas reserves as at January 1, 2025, have been pegged at 37.28 billion barrels and 210.54 trillion cubic feet (TCF) respectively. This was according to fresh data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The figures, contained in a […] The post Nigeria’s oil reserves hit 37.28n barrels, gas reserves reach 210.54 TCF – NUPRC appeared first on The Sun Nigeria.

Politics

61 h. ago Nigeria’s gas reserves hit record 210.5trn cubic feet, to last 93 years

Nigeria’s crude oil and gas reserves have hit a record high of 37.24 billion barrels and 210.5 trillion cubic feet, read more Nigeria’s gas reserves hit record 210.5trn cubic feet, to last 93 years- NUPRC

Politics

3 d. ago Nigeria’s Gas Reserves Hit Record 210.5trn Cubic Feet, To Last 93 Years — NUPRC

Nigeria’s crude oil and gas reserves have hit a record high of 37.24 billion barrels and 210.5 trillion cubic feet, according to the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Gbenga Komolafe. The development comes amidst efforts by the commission to raise reserves as encapsulated in the Petroleum Industry Act, […]

Politics

3 d. ago JUST IN: Crude Oil reserves hit 37bn barrels, gas soars to 210.54TCF – NUPRC

The Nigerian Upstream Petroleum Regulatory Commission has declared the country’s official petroleum reserves position, revealing a staggering 37.28 billion barrels of crude oil and condensate alongside an eye-popping 210.54 trillion cubic feet of natural gas. This was disclosed on Friday in a press release titled “The Declaration of Annual National Petroleum Reserves Position as of Read More

Politics

3 d. 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

3 d. ago Nigeria’s largest oil palm maker hands shareholders with record gains

as Ghana’s Oil Palm acquisition propels earnings growth in 2024 Presco Plc, Nigeria’s largest palm oil producer, delivered a read more Nigeria’s largest oil palm maker hands shareholders with record gains

Politics

3 d. ago Nwoko hails FG’s decision to peg Nigeria’s crude oil sale to naira

By Christopher Oji Senator Ned Nwoko has described the decision by the Federal Executive Council (FEC) to peg the sale of Nigeria’s crude oil on naira as a bold and commendable move. According to the Director of Communications, Office of Senator Ned Munir Nwoko, Chairman Senate Adhoc Committee on Crude Oil Theft, Gloria Okolugbo, “the […] The post Nwoko hails FG’s decision to peg Nigeria’s crude oil sale to naira appeared first on The Sun Nigeria.

Politics

4 d. ago Corruption, political interference, undermining impact of govt policies in oil, gas industry, operators cry out

Experts in Nigeria’s oil and gas industry have decried the impact of political interference, corruption as well as weak institutions read more Corruption, political interference, undermining impact of govt policies in oil, gas industry, operators cry out

Politics

4 d. ago Oil prices fall further, throwing Nigeria’s budget in turmoil

Oil prices retreated on Thursday as U.S. President Donald Trump ramped up a trade war with China, even as he read more Oil prices fall further, throwing Nigeria’s budget in turmoil

Politics

4 d. ago Oil prices hit pandemic level in threat to Nigeria’s revenue

Nigeria’s economy is facing a renewed strain as global oil prices plummet, reaching levels reminiscent of the devastating downturn experienced read more Oil prices hit pandemic level in threat to Nigeria’s revenue

Events

5 d. 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

5 d. ago ‘APC Gov’t Don’t Believe In Human Beings, Only Crude Oil, Next Elections’, Ex

Isaac Fayose, the younger brother of former Ekiti State governor, Ayodele Fayose, has accused the All Progressives Congress (APC)-led Federal Government of prioritising crude oil and political power over the lives and safety of Nigerian citizens. In a video shared on Facebook on Wednesday evening, Fayose condemned the government’s handling of persistent insecurity in the […]

Politics

5 d. ago Nigeria’s oil revenue threatened by price drop to $59 per barrel

The price of crude oil has dropped to $59 per barrel, the first decrease since February 2021. According to reports on Wednesday, Brent crude, global oil price, fell by 5.09 percent to $59.62 per barrel at 12.30 WAT, while the US West Texas Intermediate fell by 5.54 percent to $56.28 per barrel. The fall in […] The post Nigeria’s oil revenue threatened by price drop to $59 per barrel appeared first on The Sun Nigeria.

Politics

5 d. 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

5 d. ago NUPENG, PENGASSAN Fault NNPLC’s External Recruitment Process

Organised labour in the oil and gas sector, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have criticised the Nigerian National Petroleum Corporation Limited’s (NNPCL) plans to fill top management positions with externally recruited people. The two unions have expressed their […]

Politics

5 d. ago NNPC crude suspension to Dangote refinery affected OPEC output – Report

The decision of the Nigerian National Petroleum Company Limited to suspend crude supply to the Dangote and other refineries affected the output of the Organisation of the Petroleum Exporting Countries in March. A Reuters survey found that OPEC oil output fell in March as Nigeria curbed deliveries to domestic refineries. In March, supply from Nigeria, Read More

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