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Vessels carrying 129,000 metric tonnes of Premium Motor Spirit and Automotive Gas Oil are scheduled to dock at Nigerian ports between March 14 and 17, 2026, even as the Nigerian Midstream and Downstream Petroleum Regulatory Authority maintains that no new petrol import licences have been issued this year. The arrivals, documented in the Nigerian Ports…
The Federal Government has suspended the issuance of petrol import licences for a second consecutive month, signalling a hard pivot toward domestic self-sufficiency. This move, enforced by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), marks the first significant application of the Petroleum Industry Act (PIA) provisions that restrict imports unless local supply fails…
Global crude oil markets recorded their first significant decline since the escalation of Middle East hostilities, with benchmark Brent crude falling 8.45 percent to 90 per barrel and United States West Texas Intermediate (WTI) dropping 8.58 percent to 86.77 per barrel on Tuesday. The correction follows Monday’s dramatic surge that pushed prices past 100…
The Dangote Petroleum Refinery has raised the ex-depot price of petrol to ₦1,175 per litre. This marks the third price increase in a single week. The refinery communicated the new gantry rate to marketers on Monday morning. This latest jump represents an 18 per cent surge in just three days. It follows a Friday adjustment…
The Dangote Petroleum Refinery has pledged to prioritise the Nigerian market as a surge in Middle Eastern hostilities sends global energy prices into a tailspin. In a statement released this week, the firm confirmed it is absorbing a portion of rising costs to shield domestic consumers from the full impact of the crisis. While benchmark…
On Wednesday, March 4, 2026, the Nigerian National Petroleum Company Limited (NNPC) adjusted its pump price to ₦937 per litre, while major independent marketers like Petrocam and Javy followed suit, pricing the product at ₦935 and ₦930, respectively. The price hike is being driven by the escalating war between the United States, Israel, and Iran,…
Nigerian households are facing a sharp increase in energy costs as the escalating US-Israel-Iran war disrupts global natural gas production and shipping. Local depot owners raised the price of Liquefied Petroleum Gas (LPG) by an average of ₦100 per kilogram on Tuesday. Major distributors, including Nipco Plc and Navgas Limited, have adjusted their rates to…
The Dangote Petroleum Refinery has raised its petrol ex-depot price by 100 Naira, taking the rate from 774 Naira to 874 Naira per litre. Management implemented the change on Monday following a sharp rise in global crude oil prices, which surged past the $80 per barrel mark overnight. The refinery briefly suspended petrol loading at…
On Monday, January 12, 2026, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) released its latest performance data, revealing a bittersweet reality. Nigeria averaged 1.64 million barrels per day (mbpd) of crude oil and condensates throughout 2025. While this shows a slight stabilization compared to previous years of rampant oil theft, it remains well below the…
LAGOS — The Dangote Petroleum Refinery has achieved a definitive operational milestone by restoring its Crude Distillation Unit (CDU) to full nameplate capacity. In a statement released on Wednesday, the facility confirmed that both the CDU and the Motor Spirit (MS) production block have hit the 650,000 barrels per day (bpd) mark. This development follows…
