Oil Prices Crash 10% as Iran Reopens Strait of Hormuz

NewsOil & GasPoliticsWorld NewsOil Prices Crash 10% as Iran Reopens Strait of Hormuz

By Ezinwanne Onwuka (Senior Reporter)April 18, 2026

..Trump Confirms Easing of Tensions Global oil prices fell sharply on Friday, dropping by about 10 per cent after United States President Donald Trump confirmed that the strategic Strait of Hormuz has been reopened to commercial shipping. The development followed an announcement by Iran’s Foreign Minister, Abbas Araghchi, who said the vital maritime route had been restored for commercial traffic under an ongoing ceasefire arrangement in the Middle East. “In line with the ceasefire in...

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Dangote Refinery Assures Nigerians of End to Petrol Scarcity

NewsNigeriaOil & GasDangote Refinery Assures Nigerians of End to Petrol Scarcity

By Ezinwanne Onwuka (Senior Reporter)January 14, 2026

…Says Nigeria Has Entered New Phase of Fuel Abundance Dangote Petroleum Refinery Plc has assured Nigerian consumers of a sustained end to Premium Motor Spirit (PMS) scarcity, declaring that the country has entered a new era of fuel abundance and quality. The assurance was given by the newly appointed Managing Director of Dangote Petroleum Refinery, David Bird, at a press briefing in Lagos on Wednesday, following the facility’s uninterrupted fuel supplies during the Christmas and...

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AA Rano to Launch Nigeria’s First Unmanned Fuel Stations

NewsNigeriaOil & GasAA Rano to Launch Nigeria’s First Unmanned Fuel Stations

By Ezinwanne Onwuka (Senior Reporter)January 9, 2026

…Petrol workers oppose plan over job security AA Rano Nigeria, a major downstream petroleum marketing company, has announced plans to introduce Nigeria’s first fully automated and unmanned fuel stations, a move that has sparked concern among petrol station workers over possible job losses. The company announced that the stations will be launched this month, following a business partnership with Petrosoft Limited, a Nigerian technology firm that provides downstream oil and gas business management systems. In...

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Nigeria Exceeds OPEC Quota, Oil Output Hits 1.507 Million bpd in July

NewsNigeriaOil & GasNigeria Exceeds OPEC Quota, Oil Output Hits 1.507 Million bpd in July

By Ezinwanne Onwuka (Senior Reporter)August 13, 2025

In July 2025, Nigeria’s average daily crude oil production rose to 1.507 million barrels per day (bpd), a modest increase from June’s 1.505 million bpd, according to OPEC’s latest Monthly Oil Market Report. This surpasses the Organisation of the Petroleum Exporting Countries’ (OPEC) quota for the third time this year. OPEC emphasised that these figures were obtained via direct communication with Nigerian authorities, boosting the country’s status as Africa’s leading oil producer, ahead of Algeria,...

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Oil Suppliers Clash With Dangote Over Plans To Bypass Traditional Fuel Distribution Network

BusinessNewsNigeriaOil & GasOil Suppliers Clash With Dangote Over Plans To Bypass Traditional Fuel Distribution Network

Uzoamaka Ikezue (Staff Reporter)August 1, 2025

…Seek FG Intervention Over Looming Job Loss The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has raised an alarm over Dangote Refinery’s imminent plan to distribute petroleum products directly to end users, bypassing established distribution networks. Benneth Korie, NOGASA’s President stated that the approach could hurt Nigeria’s fuel market, threaten thousands of jobs, and potentially result in long-term product scarcity if not carefully managed. Korie, while speaking at the association’s Annual General Meeting...

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House of Representatives Probe Slow Rollout Of CNG Policy

NewsNigeriaOil & GasPoliticsHouse of Representatives Probe Slow Rollout Of CNG Policy

Uzoamaka Ikezue (Staff Reporter)August 1, 2025

Rt. Hon. Tajudeen Abbas, Speaker of the House of Representatives, has described the Compressed Natural Gas (CNG) policy as a cornerstone of Nigeria’s clean energy transition, highlighting its potential to provide a safer, cleaner, and more cost-effective alternative to petrol, particularly in the transportation sector. Speaking at an investigative hearing convened by the House Ad-hoc Committee on the Implementation of the CNG Policy on Thursday, Abbas, represented by Hon. Sada Soli (Jibia/Kaita Federal Constituency, Katsina...

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First Liquefied Compressed Natural Gas Plant Inaugurated In Northeast

NewsNigeriaOil & GasFirst Liquefied Compressed Natural Gas Plant Inaugurated In Northeast

Hassan Umar Shallpella (Regional Correspondent)June 5, 2025

The federal government has inaugurated a Liquefied Compressed Natural Gas (LCNG) hub in the northeastern part of Nigeria. Ekperikpe Ekpo, the Minister of State for Petroleum Resources, while commissioning the project, explained that the facility in Yola marks a significant turning point of hope and opportunity, not only for Adamawa State but for the entire northeast region. He described the feat as a testament to the potential of public-private collaboration in advancing the Federal government’s...

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NewsNigeriaOil & GasPoliticsPANDEF Condemns Exclusion Of Niger Delta In New Mini LNG Plants

Uzoamaka Ikezue (Staff Reporter)February 1, 2025

…Seeks Immediate Review Of Plan The sociopolitical body of the South-South region, Pan Niger Delta Forum (PANDEF) has condemned the exclusion of the Niger Delta region in the siting of the newly launched five Mini Liquefied Natural Gas (LNG) plants by the Nigerian National Petroleum Company Limited (NNPCL) and the Federal Government. According to a press statement on Saturday signed by the organisation’s National Spokesperson, Olorogun Dr. Obiuwevbi Ominimini, stated that despite being the primary...

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Port-Harcourt Refinery: Group Supports Obasanjo’s Claim

NewsNigeriaOil & GasPoliticsPort-Harcourt Refinery: Group Supports Obasanjo’s Claim

Uzoamaka Ikezue (Staff Reporter)January 3, 2025

A group, the Nationalists Movement (NM) has backed former President Olusegun Obasanjo on his claim concerning the deplorable manner the Nigerian National Petroleum Company Limited (NNPCL) is managing the country’s refineries. The group supported Obasanjo that the NNPCL’s decision to reject Aliko Dangote’s $750 million offer to manage the Port Harcourt, Warri, and Kaduna refineries in 2007 was a gross misjudgment. According to the group in a press statement on Friday signed by Elder Ogbor Awuru,...

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2025: FG Targets 3Mn Barrels Per Day Crude Production

NewsNigeriaOil & Gas2025: FG Targets 3Mn Barrels Per Day Crude Production

Uzoamaka Ikezue (Staff Reporter)December 31, 2024

The Federal Government is targeting  a new crude oil production benchmark of 3 million barrels per day in 2025. Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri, made the disclosure during the flagging off ceremony of Operation Delta Sanity 2, at the Nigerian Navy Ship PATHFINDER jetty in Port Harcourt on Monday, stressing that the new target is an increase from the current daily 1.8 million barrels per day. The Minister, while expressing optimism...

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