PETROAN Demands Fuel Price Cuts as Crude Oil Falls
As the easing of tensions between the United States and Iran continues, the Petroleum Products Retail Outlets Owners Association of Nigeria has called on refiners, depot owners and petroleum products importers to reduce their ex-depot and retail pump prices in line with the recent decline in international crude oil prices. The National President of PETROAN, […]
Heirs Energies Wins Best Oil & Gas Deal of the Year Award
Heirs Energies Limited has won international recognition after its landmark $750m dual-tranche senior secured reserve-based lending facility was named Best Oil & Gas Deal of the Year at the EMEA Finance Project Finance Awards 2026. In a statement on Sunday, the company said the award was presented on 3 June in London, recognising one of […]
Nigeria crude exports to India surge amid Hormuz disruption
Disruptions to oil shipments through the Strait of Hormuz caused by the ongoing Israeli-United States conflict with Iran has boosted Nigeria’s crude exports to India in recent weeks as the country’s refiners turned to African and Latin American for supplies. According to data from global commodities tracking firm Kpler cited by Reuters, Indian refiners increased […]
Hydrocarbon Demand Rising Amid Global Instability – Oando CE
Global energy security concerns and mounting economic pressures are pushing governments and investors to prioritise reliable hydrocarbon supply over the pace of an immediate energy transition, according to Oando Plc’s Group Chief Executive, Wale Tinubu CON. Speaking in a BBC interview during his participation at the Africa CEO Forum, Tinubu said rising inflation, geopolitical instability, […]
NMDPRA Enforces 3% Host Community Fund Contributions
The Nigerian Midstream and Downstream Petroleum Regulatory Authority has intensified efforts to enforce the Host Community Development Trust framework under the Petroleum Industry Act 2021, ordering operators and licensees in the sector to comply with the mandatory three per cent annual contribution to host community funds, with the introduction of a digital portal aimed at […]
Dangote Eyes Kenya for New $17 Billion Oil Refinery Project
Africa’s richest man, Aliko Dangote, is considering Kenya as the preferred location for a proposed 650,000 barrels-per-day oil refinery in East Africa, after a previous push to build it in Tanzania. Dangote disclosed this in an interview with the Financial Times, stating that he was leaning towards the Kenyan coastal city of Mombasa due to […]
164,000MT of Petrol & Diesel Arrive
No fewer than eight vessels carrying about 164,000 metric tonnes of petroleum products are expected at Nigerian ports as the Nigerian Midstream and Downstream Petroleum Regulatory Authority issues licences for fuel importation. Findings from the Daily Shipping Position obtained on Sunday showed that the incoming cargoes comprise 82,000 metric tonnes of Automotive Gas Oil, popularly […]