Despite strong investor participation in the 2025 Licensing Round, 13 oil and gas blocks will be returned to the licensing basket after receiving no bids, the Nigerian Upstream Petroleum Regulatory Commission says. FG Returns 13 Oil Blocks to Licensing Basket After Failing to Attract Bids 37 of 50 Blocks Draw Investor Interest THE Federal Government […]
Fresh petroleum sector data highlight widening gaps between Nigeria’s domestic gas ambitions and industry realities, with higher LPG imports, declining local supply and continued prioritisation of exports. Fresh Data Reveal Growing Dependence on Imported LPG NIGERIA recorded a dramatic increase in cooking gas imports in June 2026 as weakening domestic production forced greater reliance on […]
Call for Immediate Environmental Intervention ENVIRONMENTAL rights advocate and peace campaigner, Chief (Comrade) Mulade Sheriff, PhD, has urged the Federal Government, Delta State Government and relevant environmental regulators to declare an environmental emergency over a reported oil spill affecting communities in Warri South-West and Burutu Local Government Areas of Delta State. Mulade described the reported […]
Low Oil Inventories Renew Concerns Over Energy Prices A senior executive at ExxonMobil has warned that declining crude oil inventories in the United States could expose consumers to significantly higher fuel prices if supply conditions tighten further. Speaking at the Bernstein Strategic Decisions Conference in New York, ExxonMobil Senior Vice-President Neil Chapman said commercial petroleum […]
FG Engages Oil Marketers on Fuel Price Reduction Amid Declining Global Crude Oil Prices Government Convenes High-Level Industry Meeting THE Federal Government has initiated fresh consultations with major oil marketers aimed at reducing the retail price of Premium Motor Spirit (PMS), following the sustained decline in international crude oil prices. The strategic meeting, convened by […]
Seplat Ends Routine Gas Flaring, Strengthens Commitment to Cleaner Energy Company Records Major Environmental Milestone SEPLAT Energy Plc has announced the successful elimination of routine gas flaring across all its onshore operations in Nigeria, describing the achievement as a significant milestone in its environmental sustainability agenda and contribution to cleaner energy development. The announcement was […]
Federal Government Approves New Airport Project for Akwa Ibom Private Passenger and Cargo Facility Planned for Liberty Oil and Gas Free Zone THE Federal Government has approved the development of a new private passenger and cargo airport within the Liberty Oil and Gas Free Zone in Ikot Abasi, Akwa Ibom State, in a move expected […]
Solomon Commends Oil Asset Surveillance Initiative SENIOR Policy Adviser to the Delta State Governor and Delta State Coordinator of the Renewed Hope Ambassadors, Rt. Hon. Funkekeme Solomon, has commended the Federal Government’s decision to engage Tantita Security Services Limited in the protection of critical oil infrastructure, saying the initiative has contributed to improved security and […]
NIGERIA’S upstream petroleum sector is showing renewed signs of recovery after crude oil production climbed above the country’s Organisation of Petroleum Exporting Countries (OPEC) quota for the first time this year. Industry experts say stronger security around oil facilities, improved operational efficiency and the rehabilitation of critical infrastructure are beginning to reverse years of production […]
Regulator says declining crude oil prices should translate into fairer fuel prices, while marketers insist inventory costs, exchange rates and logistics continue to shape retail pricing. FCCPC Raises Concern Over Slow Price Adjustments THE Federal Competition and Consumer Protection Commission (FCCPC) has cautioned operators across Nigeria’s downstream petroleum industry against exploiting consumers by delaying reductions […]