Petroleum Newspaper Nigeria Company

22/07/2025

Nigeria partners S&P Global for West African petroleum price index

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Nigeria has partnered with S&P Global Commodity Insights to develop a regional pricing benchmark for refined petroleum products in West Africa, the country's downstream regulator said on Tuesday. The initiative, launched at the West African Refined Fuel Conference in Nigeria's capital Abuja, aims to create localised indices for products such as petrol, diesel, aviation fuel and liquefied petroleum gas.

West Africa is a significant oil and gas producer as well as a growing refining hub. But it is currently dependent upon posted prices from global reference markets, said Farouk Ahmed, head of Nigeria's Midstream and Downstream Petroleum Regulatory Authority.

"While these benchmarks are globally accepted, often they do not reflect the unique supply chain peculiarities, market dynamics and economic realities of the African continent," Ahmed said.

Nigeria partners S&P Global for West African petroleum price index www.petroleumnewsngr.com Nigeria has partnered with S&P Global Commodity Insigh

21/07/2025

NNPC, Heirs Energies offer OML 17 host communities scholarships
By: Waliat Musa

www.petroleumnewsngr.com

In a move to tackle educational inequality in Nigeria’s oil-producing communities, the Nigerian National Petroleum Company Limited (NNPC) and Heirs Energies Joint Venture (JV), through the OML 17 Host Communities Development Trust (HCDT), has launched a university scholarship scheme aimed at closing the education gap in the Niger Delta.

The scheme, known as the OML 17 University Scholarship Programme (USP), will provide financial and educational support to 300 first-year students drawn from 73 host communities under the OML 17 asset, one of the country’s major onshore oil blocks.

The new scholarship, one of the largest launched under the Petroleum Industry Act (PIA), seeks to bridge this long-standing gap by funding students enrolled in federal and state-owned universities nationwide.

NNPC, Heirs Energies offer OML 17 host communities scholarships By: Waliat Musa www.petroleumnewsngr.com In a move to tackle educational inequality in Ni

21/07/2025

Dangote refinery expansion redefining Africa’s energy independence

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Africa’s largest oil refinery is about to get even bigger—and the implications for the continent’s energy landscape could be transformative.

The $20 billion Dangote Petroleum Refinery, located in the Lekki Free Trade Zone in Lagos, Nigeria, is undergoing a major expansion that will see its production capacity increase from 650,000 to 700,000 barrels per day (bpd) by the end of 2025. Once complete, the facility will overtake South Korea’s Onsan Refinery to become the sixth-largest oil refinery in the world.

This marks another bold stride in billionaire Aliko Dangote’s vision to help Africa break free from its chronic dependence on imported refined petroleum products, an issue that has long hampered energy security, strained forex reserves, and weakened industrial competitiveness across the continent.

Dangote refinery expansion redefining Africa’s energy independence www.petroleumnewsngr.com Africa’s largest oil refinery is about to get even bigger—and the implications for the continent’s energy landscape could be transformative. The $20 billion Dangote Petroleum Refinery, located in the ...

11/07/2025

In Nigeria’s crude capital, a plan to win the war against oil theft
Through improved security measures, including gunboats, authorities in Rivers State hope to stop criminals and improve production.
Port Harcourt, Nigeria – At dawn, the dense creeks and swamps of the Niger Delta are enveloped in an eerie silence, which is interrupted only by the intermittent chirping of Herons, a rare water bird found in this part of Nigeria.
Suddenly, in a flash, the water bubbles and convulses, announcing the galloping approach of speedboats.
The boats usually carry heavily armed militiamen, often clad in work overalls, suggesting they are technicians, said Tonye Francis, who lives in the oil-producing Ogu-Bolo community in Rivers State that’s been in the shadow of an oil conflict for years.
Also in the boats are several dozen empty mini-drums with hoses attached to the bases, that get connected to a nearby oil pipeline after it has been professionally ruptured, the young man told Al Jazeera.

In Nigeria’s crude capital, a plan to win the war against oil theft Through improved security measures, including gunboats, authorities in Rivers State hope

26/06/2025

Nigeria-China Business Summit Attracts $16bln Investment into Oil and Gas Sector
..NUPRC Showcases Sector Reforms and $16 Billion Commitment at Lagos Investment Summit

By Joycelyn Ellakeche Adah

www.petroleumnewsngr.com

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced significant strides in attracting fresh investments into the nation’s oil and gas sector, citing over $16 billion in upstream investment commitments between 2023 and 2025.

This development was highlighted at the recent Nigeria-China Sustainable Bilateral Business, Trade, and Investment Summit held in Lagos.

Petroleumnews reports that the summit brought together top government officials, global and local investors, energy executives, and key stakeholders to reaffirm Nigeria’s commitment to energy security, accessibility, and sustainability as cornerstones of national development.

In his address, the Commission’s Chief Executive, Engr.

Nigeria-China Business Summit Attracts $16bln Investment into Oil and Gas Sector ...NUPRC Showcases Sector Reforms and $16 Billion Commitment at Lagos Inves

25/06/2025

Petrol hits N955/litre as marketers, NNPCL raise prices
Special coverage

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Retail outlets under the nameplate of the Nigerian National Petroleum Company Limited effected an upward adjustment in the pump price of the Premium Motor Spirit, also known as petrol, to N945 per litre in the Federal Capital Territory on Monday.

They also adjusted their petrol price to N915 per litre at several of their Lagos retail outlets, marking a fresh upward shift in the downstream retail market. The latest increase marks a fresh spike of N45 and N35 in Lagos and Abuja, respectively, up from the previous prices of N870 and N910 per litre.

Also, independent marketers effected an increase of N60 from N895 per litre to N955 per litre in Abuja. In Lagos, the costs ranged from N915 to N950, depending on the station of the independent oil dealer.

The PUNCH reports that as of Monday, petrol prices hovered between N915 and N950 in Lagos, Ogun and other parts of the South-West.

25/06/2025

614km AKK gas pipeline crosses River Niger
By Dare Olawin

www.petroleumnewsngr.com

Oilserv Limited, the contractor handling the 614km Ajaokuta-Kaduna-Kano gas pipeline project, says the pipeline has crossed the River Niger. The contractor said this in an update on its X handle on Tuesday.

Oilserv announced the successful completion of a critical phase of the pipeline crossing the River Niger using a technology aimed at preserving the environment. The company also reiterated its commitment to driving Nigeria’s energy transition.

“We have successfully crossed the 40-inch x 1.6km Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline through the River Niger using the Horizontal Directional Drilling special technique, minimising environmental impact. We remain committed to driving Nigeria’s energy transition,” the company said.

Horizontal directional drilling is a trenchless method for installing underground utilities like pipes, conduits, or cables.

25/06/2025

Heirs Energies and Renaissance to Collaborate in Order to Advance Nigeria’s Oil and Gas Development

Our reporter

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Heirs Energies Limited and Renaissance Africa Energy Company have reaffirmed their shared commitment to fostering strategic collaboration to advance Nigeria’s oil and gas development.

According to a statement on Tuesday, they also expressed commitment to boosting hydrocarbon production by empowering indigenous operators and enhancing their capacities and opportunities.

The independent producers spoke during a high-level courtesy visit by Osa Igiehon, Heirs Energies’ chief executive officer (CEO), to the Renaissance team led by Tony Attah, its managing director.

According to a statement issued by Heirs Energies on Tuesday, the meeting marked the first formal engagement between the companies following Renaissance’s successful takeover of Shell Petroleum Development Company (SPDC).

14/06/2025

Global oil prices soar after Israel attacks Iran

Peter Hoskins
www.petroleumnewsngr.com

Global oil prices jumped after Israel said it had struck Iran in a dramatic escalation of tensions in the Middle East.
The price of the benchmark Brent crude rose more than 10%, reaching its highest level since January, before losing some gains.
Traders were concerned that a conflict between Iran and Israel could disrupt supplies coming from the energy-rich region.
The cost of crude oil affects everything from how much it costs to fill up your car to the price of food at the supermarket.

After the initial jump, oil prices eased a little. But Brent crude still ended the day more than 7% higher than Thursday's closing price, trading at $74.23 a barrel.
Despite Friday's moves, oil prices are still more than 10% lower than where they were at the same point last year.

12/06/2025

Nigerian Troops Arrest 43 Suspected Oil Thieves in Yeagoa, Bayelsa State
Our correspondents

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Troops of 6 Division, Nigerian Army have arrested 43 suspected oil thieves and uncovered 27 illegal bunkering sites in the Niger Delta region.

The troops also recovered over 161,000 litres of stolen products in their latest crackdown across the region

Acting Deputy Director, 6 Division Army Public Relations, Lieutenant Colonel Danjuma Jonah Danjuma said in Port Harcourt, that the operations were conducted in synergy with other security agencies between 26 May - 8 June 2025.

"In Bayelsa State, along Zarama-Joinkrama 4, troops discovered an illegal connection point at Wellhead 10 connected to an illegal refining site.

Nigerian Troops Arrest 43 Suspected Oil Thieves in Yeagoa, Bayelsa State Our correspondents www.petrroleumnewsngr.com Troops of 6 Division, Nigerian Army

12/06/2025

NNPC AND ARAMCO Disagree on the $5bn Forward Sale of Crude Oil

By Abdullateef Aliyu, Lagos

www.petroleumnewsngr.com

The Federal Government yesterday clarified that it has not taken a final decision on the $5bn forward sale of crude oil involving the Nigerian National Petroleum Company Limited (NNPC Ltd.) and Saudi Arabian oil giant Aramco.

The Ministry of Finance issued the clarification while rejecting claims that the deal had collapsed.

NNPC AND ARAMCO Disagree on the $5bn Forward Sale of Crude Oil By Abdullateef Aliyu, Lagos www.petroleumnewsngr.com The Federal Government yesterday c

10/05/2025

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