MaTaZ ArIsInGDallas, Texas Brazilian state oil company Petrobras plans to return to Nigeria’s oil sector after more than ten years away. Nigeria’s Foreign Minister Yusuf Tuggar confirmed the development during government meetings in May 2025. The company wants frontier acreage in Nigeria’s deep waters. Petrobras previously operated in Nigeria from 1998 but divested its assets over a […] Read more
MaTaZ ArIsInGDallas, Texas Despite these gains, the World Bank official reiterated that many challenges remained, including persistent high inflation. Taimur Samad, the World Bank’s acting country director for Nigeria, has stated that the Nigerian economy is improving due to the country’s commitment to sustained reforms. Mr Samad made this statement based on the latest Nigeria […] Read more
MaTaZ ArIsInGDallas, Texas Officials said Mr Ojulari took the decision to halt “continued value erosion in Nigeria’s refining sector.” Bayo Ojulari has removed the managing directors in charge of three NNPC refineries in Port Harcourt, Kaduna and Warri, Peoples Gazette heard on Thursday. Officials said Mr Ojulari took the decision to halt “continued value erosion […] Read more
MaTaZ ArIsInGDallas, Texas The federal government has called on major oil companies operating in the country to reciprocate its efforts in enhancing the investment climate by committing tangible investments to the sector. This appeal comes after significant reforms aimed at improving regulatory stability and fiscal competitiveness in the oil and gas industry. Minister of State […] Read more
MaTaZ ArIsInGDallas, Texas A proposed law that would shift control of natural resources like oil fields, minerals, and natural gas from the federal government to state governments in Nigeria has passed its second reading in the House of Representatives. This bill seeks to amend the 1999 Constitution to change how Nigeria manages its resources, giving states more […] Read more
MaTaZ ArIsInGDallas, Texas Dare, without providing details, said that the bills were passed by the Green Chamber on Thursday after months of debate. The Nigerian House of Representatives has given approval to President Bola Ahmed Tinubu’s tax reform bills. This was announced on Thursday after months of controversy. Presidential spokesperson and Special Adviser on Media […] Read more
MaTaZ ArIsInGDallas, Texas The Nigerian National Petroleum Company Limited, NNPCL, has announced a reduction in the pump price of Premium Motor Spirit, PMS, commonly known as petrol, to N860 per litre. This development is the latest in a price war among oil marketers and independent petroleum dealers. It is also influenced by fluctuations in global […] Read more
MaTaZ ArIsInGDallas, Texas Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N65.00, from N890 to N825 per litre, effective from 27th February 2025. According to the company, the decision was taken to provide essential relief to Nigerians in anticipation of […] Read more
MaTaZ ArIsInGDallas, Texas According to the oil cartel’s direct communication data, Nigeria recorded 1,539 million barrels per day in January from 1,485 million recorded in December 2024, an increase of 54,000 barrels. According to data from the Organisation of Petroleum Exporting Countries (OPEC), Nigeria’s crude oil production rose in January. According to the oil cartel’s direct communication […] Read more
LAGOS, Nigeria’s Dangote Oil refinery, Africa’s largest, could begin operating at full capacity in 30 days, the head of the refinery said on Monday. The 650,000-barrel-per-day refinery built by Nigerian billionaire Aliko Dangote in Lagos began processing crude into products, including diesel, naphtha and jet fuel, in January last year and started processing petrol in […] Read more
