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The Dangote Petroleum Refinery loaded more than 43 million litres of Premium Motor Spirit (PMS) into the Nigerian market in a single day, according to company sources. Officials of the refinery said the plant dispatched 43.3 million litres of petrol on Saturday, countering market speculation about a halt in petrol production. The sources spoke on

The Nigerian National Petroleum Company Limited (NNPCL) has cut petrol prices to ₦785 per litre in Lagos and ₦815 per litre in Abuja, as competition in Nigeria’s deregulated downstream market intensifies. Previously in Abuja, petrol was sold at ₦835 per litre, while today’s reduction to ₦815 per litre reflects ongoing competition, domestic refining influence, softer

President Bola Tinubu has asked the Senate to confirm Magnus Abe as chairman of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and approve 20 other nominees for board positions across Nigeria’s two petroleum regulatory agencies. In separate letters sent to the Senate on Monday, the President requested expedited screening and confirmation for nominees to the

Oil prices opened lower at the start of 2026 despite escalating geopolitical tensions surrounding Venezuela, as ample global supply and OPEC+ output discipline outweighed concerns about potential disruptions. In early Asian trading, Brent crude fell 0.81% to $60.26 per barrel, while U.S. West Texas Intermediate (WTI) declined 0.87% to $56.82 per barrel. The drop followed

The year 2025 marked a turning point for Nigeria’s downstream petroleum sector. Dangote Petroleum Refinery accelerated production, expanded into global markets, and triggered a series of labour, regulatory, and commercial disputes. An analysis by Petroleumprice.ng shows that, from pricing shocks and union resistance to record-breaking exports and expansion plans, the refinery reshaped domestic supply dynamics

Nigeria’s downstream petroleum sector could gain more than 850,000 barrels per day (bpd) in domestic refining capacity as new refineries under development begin operations, according to the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN). In its 2025 sector review and 2026 outlook, PETROAN said privatisation, reliable crude supply, and effective regulation remain essential

Nigeria’s oil sector recorded notable progress in 2025, driven by policy reforms, fresh investments, and stronger local content participation, according to the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri. In a statement posted on his official X account, Lokpobiri said government actions helped sustain activity across both upstream and downstream segments throughout

Nigeria’s downstream petroleum market closed the final trading week of 2025 with mixed movements across key depots, as operators adjusted to local supply conditions and ongoing domestic pricing dynamics. Premium Motor Spirit (PMS) prices were largely stable in Lagos, while Warri and Port Harcourt experienced minor fluctuations. Automotive Gas Oil (AGO) remained generally steady, reflecting

Oil prices edged higher at the start of 2026, supported by rising geopolitical risks, even as markets continued to digest the sharp losses recorded over the past year. In early Asian trading on January 2, Brent crude rose by 0.30% to $61.03 per barrel, while U.S. West Texas Intermediate (WTI) also gained 0.30% to $57.59

Official records indicate that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) processed and approved most petroleum product vessel clearance applications at Nigerian ports within 24 hours in November 2025, with several vessels receiving approval on the same day submissions were made. Data from the regulator’s vessel clearance schedule indicate that many applications received

Global oil prices are set to record their sharpest yearly drop since 2020. Rising supply has weighed on the market despite a year dominated by wars, sanctions, and geopolitical shocks. By Wednesday, Brent crude had fallen more than 17 per cent in 2025. That marks its biggest annual percentage decline since 2020. The benchmark is

Petroleumprice.ng expressed appreciation to its industry partners and subscribers, describing their support as vital to the platform’s growth in Nigeria’s downstream petroleum sector In a statement, the Chief Executive Officer of Petroleumprice.ng, Olatide Jeremiah, thanked key industry leaders for their collaboration and confidence in the platform’s data-driven reporting and market intelligence. He noted that sustained

U.S. crude oil inventories recorded another increase in the final full week of December, reinforcing a short-term pattern of stock builds across crude and refined products, according to new data from the American Petroleum Institute (API). API estimates show crude inventories rose by 1.7 million barrels in the week ending December 26, following a 2.4

Crude oil prices held firm on Tuesday, December 30, 2025, as traders weighed geopolitical tensions, holiday market calm, and disruptions in key producing regions. As at 6:30 (WAT) Brent crude rose marginally to 62.01 (+0.11%) and WTI crude edged up to 58.28 per barrel (+0.34%) while Murban Crude moved 61.66/b (-1.53%), Middle Eastern and Venezuelan

Global oil markets opened the week on a firm footing as oil prices surged over 2% on Monday, driven by a sharp repricing of geopolitical risk rather than optimism around diplomacy. Although progress was reported in talks aimed at ending the Russia-Ukraine war, unresolved flashpoints and escalating tensions in the Middle East pushed traders to