Oil prices gained $3 on Thursday as concerns mounted that a widening regional conflict in the Middle East could disrupt global crude flows with Israel reportedly...
On Wednesday, the federal government of Nigeria proposed the implementation of the Naira for transactions to reduce pressure on the foreign exchange (FX) market and to...
Oil prices made a modest recovery on Thursday on the expectations that OPEC+ may delay planned production increases and the drop in U.S. crude inventories. Brent...
The Independent Petroleum Producers Group (IPPG) has raised concerns over recent attempts to compel oil producers to supply crude to the Dangote Refinery and other local...
The Federal Government of Nigeria has announced that it will begin selling crude oil to the Dangote Refinery in naira, effective from October 1, 2024. This...
The Federal Government of Nigeria has introduced naira-denominated crude oil sales to local refineries to support local refineries and finally putting an end to the Domestic...
Brent crude oil, against which Nigerian crude oil is priced, dropped by $1.35 or 1.7% on Monday to $79.78 per barrel. This decline comes in the...
The Federal Executive Council (FEC) has approved a $21 million contract to meter 187 crude oil flow stations across Nigeria. The decision was announced by the...
Nigeria’s daily oil production increased in July by 25,000 barrels per day to 1.276 million barrels per day (mbpd). This development was disclosed by the Organisation...
The Federal Government, through the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), has reached an agreement with oil producers to permit the sale of crude oil to...