For Adverts / Inquiries
08024545197Dangote Petroleum Refinery reduced its crude oil imports to a five-month low in August as elevated inventories allowed the 700,000-barrels-per-day facility to rely more heavily on crude already held in storage.
Iranian President Masoud Pezeshkian has offered an immediate reciprocal response if the United States returns to commitments contained in a June agreement intended to end hostilities between Washington and Tehran
The Nigerian National Petroleum Company Limited (NNPCL) recorded a 48 percent decline in profit after tax in July, as lower crude oil sales and weaker gas output reduced its financial performance during the month
The proposed price cap on petroleum products by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) could have the opposite effect of its intended objective, triggering investor flight and ultimately putting upward pressure on petrol prices, Trade Union Congress President, Festus Osifo, has warned.
A Federal High Court in Lagos has restrained the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) from shutting down, restricting access to or interfering with the operations of Dangote Petroleum Refinery in the Lekki Free Zone.
The Nigerian National Petroleum Company Limited (NNPCL) has increased its Premium Motor Spirit (PMS) pump price to ₦1,299 per litre in Lagos and ₦1,345 per litre in Abuja, as a fresh round of price adjustments sweeps through Nigeria’s downstream petroleum market.
Dangote Petroleum Refinery has explained that the three upward reviews of its Premium Motor Spirit price within eight days were driven largely by the cost of crude oil purchased earlier, rather than movements in international crude benchmarks on the day the refinery adjusted its prices
Dangote Petroleum Refinery and Petrochemicals has banned Premium Motor Spirit (PMS) sales to major marketers who continue importing petrol into Nigeria, citing concerns over product quality, market transparency and brand integrity.
Nigeria’s petrol imports rose by 233.9 per cent between May and July 2026, even as domestic refining capacity expanded, raising concerns over the growing role of imported products in the country’s fuel supply
Petrol prices have risen to as high as ₦1,300 per litre at several filling stations in Lagos, Ogun and Abuja following Dangote Petroleum Refinery’s latest increase in its Premium Motor Spirit (PMS) gantry price to ₦1,265 per litre
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has appointed Olatide Jeremiah, CEO of petroleumprice.ng, as its Special Adviser on Petroleum Price Intelligence
Nineteen upstream oil licences in Nigeria are set to expire this year, putting operators on notice even as the regulator quietly issues fresh acreage to new entrants. The Nigerian Upstream Petroleum Regulatory Commission's latest Concession Situation Report lists 12 Petroleum Prospecting Licences and seven Oil Prospecting Licences with 2026 expiry dates, alongside three more that lapsed in 2025.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that repeated changes to the Petroleum Industry Act (PIA) could undermine regulatory certainty and weaken investor confidence in Nigeria’s oil and gas sector
Iran has warned countries against joining the United States’ campaign to impose economic restrictions on Tehran, saying governments that participate in the measures could be treated as adversaries and face retaliation against their interests
Brent crude approached the $95-per-barrel mark on Friday as escalating tensions around Iran and the Strait of Hormuz continued to raise concerns over global oil supplies, while elevated diesel and petrol prices persisted across major Nigerian depots
Former Vice President Atiku Abubakar has proposed replacing Nigeria’s former petrol import subsidy with a targeted production-support programme for local refineries if he wins the 2027 presidential election
Former Vice President Atiku Abubakar has pledged to reinstate Nigeria’s fuel subsidy if he wins the presidency in the 2027 general election, arguing that the savings from its removal have not produced enough visible benefits for Nigerians
Frequent changes to Nigeria’s petroleum regulatory framework could weaken investor confidence and threaten fresh capital inflows into the oil and gas industry, the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has warned.
The Federal Government has said that the Dangote Petroleum Refinery could not have operated commercially under Nigeria’s former petrol subsidy regime, arguing that maintaining pump prices at about ₦200 per litre would have made private refining investment virtually impossible.
Nigeria’s estimated spot landing cost for Automotive Gas Oil (AGO), commonly known as diesel, has climbed to ₦1,709.60 per litre, widening the price gap with Dangote Petroleum Refinery’s ₦1,570 per litre gantry price and supporting stronger buying interest in locally refined diesel
We use analytics cookies to understand how visitors use Petroleumprice.ng and improve the site. No data is sold or shared with advertisers.