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Nigeria’s crude oil production fell to 1.31 million barrels per day (bpd) in February, according to the Organisation of Petroleum Exporting Countries (OPEC) data. In its monthly report on Wednesday, the oil alliance said the figure…
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Negar / Middle East Images / AFP via Getty Images The Iran war has produced the largest disruption to oil markets in history, the International Energy Agency said on Thursday. "The war in the Middle East is creating the largest…
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NNPC filling station The Federal Government have been increase crude oil supply to local refineries and consider targeted subsidies to cushion the impact of rising fuel prices on Nigerians following the global oil market disruption…
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The Transmission Company of Nigeria has carried out a clearance operation to remove structures encroaching on the Ihovbor–Ajaokuta 330kV transmission line in Ihovbor Community, Edo State. In a statement issued in Abuja on Thursday,…
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File Photo: Petrol Station For many residents of the Federal Capital Territory, the daily journey to work is becoming more exhausting and expensive as the recent surge in petrol prices has driven up transport fares across major routes.…
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The new pricing, which took effect on Wednesday, represents a reduction of ₦100 from the previous ₦1,230 per litre in Lagos and ₦95 from ₦1,260 per litre in Abuja. Checks showed that the revised price was already reflected at…
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Global financial markets traded cautiously on Wednesday as oil prices surged again, triggering renewed volatility across equities and currency markets amid escalating geopolitical tensions in the Middle East. Brent crude oil, the…
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...Says local production meets domestic demand The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) suspended the issuance of new import licences in February.  The NMDPRA announced the development in its…
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A presidential aspirant on the platform of the National Rescue Movement, Faduri Oluwadare Joseph, has urged the federal government to restore fuel subsidy to cushion the impact of rising petroleum prices on Nigerians. Joseph made…
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Nigeria’s gross external reserves have surged to about $50 billion, marking the highest level seen since January 2009, according to data from the Central Bank of Nigeria. The reserves, currently at $49.9 billion, reflect an increase…
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