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[ March 3, 2026 ] Executive Order 9 takes effect as FG halts NNPCL’s 30% deductions News
[ March 3, 2026 ] Asia scrambles for LNG as Qatar halts output due to Iran war News
[ March 2, 2026 ] Dangote refinery increases petrol price from N774 to N875 News
[ March 2, 2026 ] Dawes Island Oil Field secures $109m funding, revives development plan News
[ March 1, 2026 ] Nigeria’s oil revenue dips by 25% to N877bn in one month News

Nigeria’s Tinubu offers wage increase ahead of labour strike

*President Bola Tinubu Abuja — Nigerian President Bola Tinubu on Sunday announced an interim wage rise for low-income workers and mass buses running on gas to ease the impact of a petrol subsidy removal, just […]

Savannah Energy records 12% increase in Nigerian production

Michael James Leeds, England — Savannah Energy plc says it has recorded 12 percent increase in Nigerian production in its unaudited half-year results for the six months ended 30 June 2023. The H1 2023 Unaudited […]

India increases windfall tax on petroleum crude

News wire — The Indian government increased windfall tax on petroleum crude, while reduced it on aviation turbine fuel and diesel, according to a government notification on Friday. The windfall tax on petroleum crude will […]

Cyprus, Chevron-led group extend talks over gas plan

Nicosia — Cyprus and international energy companies led by Chevron have agreed to extend talks on how to develop its Aphrodite offshore gas field amid progress in negotiations, its energy minister said on Friday. “It […]

US crude production climbs to near record high in July

*Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. […]

Oil forecasts revised higher as Saudi, Russian supply cuts drive gains

– Saudi, Russia to dictate prices over the next 3 months – analyst– US shale, Iran and Venezuela oil production to ease tightness– For a table of crude price forecasts, click Bengaluru — Saudi and […]

Nearby Brent crude spread hits 2023 high on tight supply

*North Sea Brent oil London — The spread between the front and second month contract for global oil benchmark Brent has widened to its highest this year, in another strong indicator of a supply deficit […]

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Bayelsa communities threaten to shutdown Shell operations over Development Trust

Mkpoikana Udoma Port Harcourt — Seven communities in Bayelsa State have vowed to shutdown operations of the Shell Petroleum Development Company of Nigeria Limited, SPDC, over inauguration of the Host Community Development Trust, HCDT, for Estuaries […]

TotalEnergies to return more cash to shareholders

– As oil and gas output rise Paris — French energy group TotalEnergies (TTEF.PA) is to increase returns to shareholders and plans to raise its oil and gas production by 2 to 3% per year […]

Afreximbank turns to oil traders for NNPC’s $3bn loan

Sam Ikeotuonye, with agency reports Lagos — Cairo, Egypt-based African Export-Import Bank or Afreximbank is tapping oil traders to finance a $3 billion loan to Nigeria’s state oil company NNPC Limited aimed at supporting the […]