Lagos, Nigeria | September 9, 2025 Petroleum product operators have indicated plans to increase pump prices following the continued closure of private depots across the country, a development that has heightened supply concerns. According to industry sources, the prolonged shutdown of depots is driving up ex-depot costs, leaving marketers with limited access to supplies. This
Abuja — September 1, 2025 Nigeria’s petrol consumption has fallen by 28 percent, leaving many fuel attendants idle at filling stations across the country. The sharp decline follows the removal of fuel subsidy and the resultant rise in pump prices, which has significantly reduced demand. Industry reports indicate that average daily petrol consumption, which previously
In a move that will please drivers and businesses alike, QatarEnergy has today released its official fuel rates for August 2025, maintaining the same prices set for July. According to its end‑of‑month bulletin, Premium‑grade petrol remains at QR 1.95 per litre, Super‑grade petrol holds at QR 2.00, and diesel continues at QR 1.95 per litre—a pattern that mirrors
July 9, 2025 Global oil prices surged to their highest level in two weeks on Tuesday following renewed Houthi assaults on commercial vessels navigating the Red Sea, heightening fears of major disruptions to global supply routes. According to Reuters, the sharp price rally was triggered by an attack on the Eternity C, a Greek-operated, Liberian-flagged
ABUJA – The Federal Ministry of Petroleum Resources has announced intensified internal reforms aimed at significantly improving its standing in the Independent Corrupt Practices and Other Related Offences Commission (ICPC) transparency and accountability performance rating. This development was disclosed on Wednesday, June 26, 2025, during a strategic compliance and performance review session held at the
Lagos – June 23, 2025 – The cost of Premium Motor Spirit (PMS), popularly known as petrol, has risen sharply across Nigeria, with MRS Oil Nigeria Plc adjusting its pump price to ₦925 per litre in Lagos and ₦955 in parts of the Southeast, further intensifying concerns over fuel affordability and inflationary pressure. This development
Global crude oil markets witnessed fresh losses on Friday following an announcement by former U.S. President Donald Trump, who revealed that a final decision on whether America would militarily support Israel in its ongoing conflict with Iran would be made within the next two weeks. The uncertainty surrounding U.S. involvement has injected a fresh wave
Abuja – The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced plans to begin the tracking of all crude oil cargoes leaving the country, in a move aimed at curbing oil theft, improving transparency, and safeguarding the nation’s most critical revenue source. The Commission made this disclosure on Thursday, stating that the initiative is part
Abuja, June 19, 2025 – The Federal Government has expressed strong approval of Shell’s renewed investment in Nigeria’s oil and gas industry, describing it as a tangible vote of confidence in the country’s reform agenda and energy potential. At a recent stakeholder meeting, Federal Government representatives lauded Shell’s Final Investment Decision on the deep-water Bonga
Green Energy International Limited (GEIL) has achieved a significant milestone in Nigeria’s oil and gas sector with the successful completion of the first crude oil export from its newly constructed Otakikpo onshore terminal. The export took place on Sunday, June 8, at approximately 2:00 PM, when an off-taker vessel chartered by Shell lifted the maiden
