Oil and Gas

Abuja, Oct. 15, 2025 – The Nigerian National Petroleum Company Limited (NNPC) says forging strategic partnerships remains vital to unlocking value, achieving sustainability, and advancing commercialization within the nation’s downstream petroleum sector. ‎‎Bashir Bayo Ojulari, the Group Chief Executive of NNPC, said this in Abuja on Tuesday during the 2025 Inaugural Annual Downstream Petroleum Week organized by the House of Representatives Committee on Petroleum Resources (Downstream). ‎He described the Nigeria’s downstream landscape as one shaped by transition, opportunity, and strategic reform, stressing the importance of collaboration as a yardstick to …

  Moscow, Oct 15, 2025 – OPEC Secretary General Haitham Al Ghais reiterated on Wednesday that more investment is needed in oil and gas, saying oil will continue to account for about 30% of the global energy mix by 2050. A growing economy, population growth and urbanisation all lead “to one clear signal that the world will need much more energy than it is consuming today”, he said in remarks to the Russian Energy Week conference in Moscow. He forecast 23% growth in primary energy demand by 2050. “Yes, it’s …

  Singapore, Oct 15, 2025 – Oil prices fell on Wednesday, extending losses from the previous session, as investors weighed the International Energy Agency’s warning of a supply surplus in 2026 and U.S.-China trade tensions that could curtail demand. Brent crude futures fell 9 cents, or 0.14%, to $62.30 a barrel by 0640 GMT, while U.S. West Texas Intermediate futures eased 3 cents, or 0.05%, to $58.67 a barrel. Both contracts closed at five-month lows in the previous trading session. The International Energy Agency said on Tuesday the global oil …

  London, Oct. 14, 2025 − Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell, has taken a final investment decision (FID) on the HI gas project offshore Nigeria with Sunlink Energies and Resources Limited. The project, when completed, will supply 350 million standard cubic feet of gas per day at peak production to Nigeria LNG, which produces and exports liquified natural gas (LNG) to global markets. Production is expected to begin before the end of this decade. “Following recent investment decisions related to the Bonga deep-water development, …

  Singapore, Oct 14, 2025 — Oil prices reversed early gains and fell on Tuesday amid uncertainty about trade tensions between the U.S. and China, the world’s top two economies, which could weigh on global fuel demand. Brent crude futures slipped 28 cents, or 0.4%, to $63.04 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude was at $59.26, down 23 cents, or 0.4%. “While working-level talks between two sides continue, the Chinese side has vowed a ‘fight to the end’, if there’s a fight. Oil markets will …

  Abuja, Oct. 13, 2025 – The federal government has ordered a clamp down on marketers hoarding cooking gas due to its current shortage in the market. Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), has issued a directive to the effect. Louis Ibah, the Spokesman for the minister, disclosed this in a statement on Monday, saying the minister had mandated the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to intensify monitoring of cooking gas depots across the country to prevent product hoarding and other sharp practices …

  London, Oct 13, 2025 – Oil prices rose on Monday after hitting five-month lows in the previous session, as investors focused on potential talks between the presidents of the United States and China that could ease trade tensions between the world’s two largest economies and oil consumers. Brent crude futures rose 94 cents, or 1.5%, to $63.67 a barrel by 0824 GMT. U.S. West Texas Intermediate crude was at $59.81 a barrel, up 89 cents, or 1.54%. Both contracts lost around 4% on Friday to settle at their lowest …

  Abuja, Oct. 13, 2025 – Nigeria’s crude oil production dropped to1.581 million barrels per day (bpd) in September from1.63 million bpd in August 2025. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in a statement issued at the weekend by Eniola Akinkuotu, its Head of Media and Strategic Communication. It attributed the decline in production during the month to the three-day strike by the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) and the scheduled routine maintenance at two strategic oil facilities. NUPRC said the September oil production …

  Singapore, Oct. 8, 2025 – Oil prices rose on Wednesday as investors brushed off oversupply fears, having digested a decision earlier by OPEC+ to restrain production increases next month. Brent crude futures rose 48 cents, or 0.7%, to $65.93 a barrel by 0400 GMT. U.S. West Texas Intermediate crude climbed 51 cents, or 0.8%, to $62.24. The benchmarks settled broadly flat in the previous session as investors weighed signs of a supply glut against a smaller-than-expected increase to November output from the Organization of the Petroleum Exporting Countries and …

  Lagos, Oct. 7, 2025 – Dangote Refinery has reduced the price of its cooking gas to ₦760 per kilogram from ₦810 per kilogram. This is the second time the company is reducing its price in a month. Dangote’s price is currently the cheapest in the market when compared with other outlets. While Dangote has reduced the price to N760 per kilogram, Matrix and Ardova depots are selling at ₦920 per kilogram, while A.Y.M Shafa and NIPCO are at ₦910 per kilogram. Stockgap Depot is selling at ₦950 per kilogram. …