33 h. 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

40 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

3 d. ago (PICTORIAL) Petroleum smuggling: NSCDC arrests seven, impounds trucks

The Nigeria Security and Civil Defence Corps has confirmed the arrest of seven suspects involved in unlawful dealings in petroleum products. According to a post via its X handle on Friday, the NSCDC said the operation was carried out by the Commandant General’s Special Intelligence Squad. The post added that the operation also led to Read More

Politics

3 d. 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.

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4 d. 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

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4 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

4 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

5 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

5 d. ago PICTORIAL: NSCDC nabs suspect, destroys boat loaded with stolen crude oil

The Nigeria Security and Civil Defence Corps has arrested a man for illegal oil bunkering. His arrest came after a big boat filled with stolen crude oil was intercepted. The Corps disclosed this in a post on the Corps’ X handle on Wednesday. NSCDC said its officials seized and destroyed the boat along with a Read More

Politics

6 d. 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

6 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

6 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

7 d. 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

8 d. 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

9 d. ago Crude price crash: Petrol can drop below N400/litre — Refiners

Crude Oil Refinery Owners Association of Nigeria has said that the price of Premium Motor Spirit (petrol) can drop below N400 per litre with the current crash in crude oil prices. CORAN argued that there is no reason petrol should not be sold at NN350 per litre if crude prices eventually fall to $50 per Read More

Events

1 week ago Navy confiscates vessels carrying illicit arms, crude oil in Niger Delta

By Philip Nwosu In a sweeping crackdown on crude oil theft and illegal refining activities, the Nigerian Navy says it seized large quantities of stolen crude oil, intercepted arms shipments, and destroyed several illegal refining sites across the Niger Delta during its operations in March. The Navy’s latest offensive, conducted under Operation Delta Sanity II, […] The post Navy confiscates vessels carrying illicit arms, crude oil in Niger Delta appeared first on The Sun Nigeria.

Politics

1 week ago Navy seizes vessels with illegal arms, crude oil in Niger Delta

By Philip Nwosu The Nigerian Navy has cracked down on crude oil theft and illegal refining in the Niger Delta, seizing stolen crude, intercepting arms, and dismantling refinery sites in March under Operation Delta Sanity II. The month-long effort also nabbed vessels with illegal weapons and thousands of litres of illicit petroleum products. Navy spokesman […] The post Navy seizes vessels with illegal arms, crude oil in Niger Delta appeared first on The Sun Nigeria.

Politics

1 week ago Navy Intercepts 400,000 Gallons Of Stolen Crude Oil In Niger Delta

The Nigerian Navy’s Operation Delta Sanity II recovered nearly 400,000 gallons of stolen crude oil across the Niger Delta in March 2025. Furthermore, over 30 illegal refinery sites were shut down, and numerous suspects involved in arms smuggling and oil bunkering were apprehended by the operatives. Commodore A. Adams-Aliu, the spokesperson for the Nigerian Navy, […] The post Navy Intercepts 400,000 Gallons Of Stolen Crude Oil In Niger Delta appeared first on Information Nigeria.

Politics

1 week ago Navy seizes 400,000 litres of stolen crude in Delta operation

Over 400,000 litres of stolen crude oil were recovered by the Nigerian Navy’s Operation Delta Sanity II across the Niger Delta in March 2025. Also, more than 30 illegal refinery sites were dismantled and several suspects linked to arms smuggling and oil bunkering were equally arrested by the operatives. According to a statement on Friday Read More

Politics

1 week ago Local refineries importing substandard crude, PETROAN alleges

The Petroleum Products Retail Outlet Owners Association of Nigeria says some local refineries are importing substandard crude into Nigeria to cut costs. Speaking with our correspondent on Thursday, PETROAN National Publicity Secretary Joseph Obele said the refineries have been importing crude oil with high sulphur content into Nigeria. Asked to mention some of the refineries, Read More

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