Nigeria National Petroleum Company (NNPC) Limited, on Tuesday, presented a technical paper at the SPE Technical Programme of the ongoing 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) on the use of machine learning to assess the oil and gas potential of source rocks in frontier basins. The...
Crude oil
The Nigerian National Petroleum Company Limited (NNPC Limited) has said reforms in Nigeria’s oil and gas sector have added 600,000 barrels per day, raising national crude oil production from about 1.2 million barrels per day to 1.8 million barrels per day and placing the country in a stronger position...
Economic and Financial Crimes Commission (EFCC) has uncovered an illegal oil refinery operated by Chinese in the Ogere area of Ogun State. The commission in a post on its X handle on Tuesday, said.the operation, conducted on Saturday, October 31, 2026, by operatives of the Lagos Zonal Directorate 2...
Borno State Governor, Professor Babagana Umara Zulum, has secured a commitment from the Nigerian National Petroleum Company Limited (NNPCL) to resume oil exploration activities in the state, even as he raised concerns over the delayed upgrade of the Maiduguri Emergency Power Plant. The commitment was made known on Wednesday...
Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), on Wednesday October 21, 2026, arraigned one Amechi James Oduofor before Justice C. A. Obiozor of the Federal High Court Benin City for crude oil fraud. Oduofor, 6, 4 was arraigned on an eight-count charge bordering on forgery,...
Nigerian Navy has recovered more than 2.25 million litres of petroleum products and rescued 24 kidnapped persons during operations against oil theft and illegal refining activities between July and September 2026. The operations also led to the arrest of over 70 suspects, seizure of four vessels and five boats,...
Nigerian Navy personnel have uncovered about 98,000 litres of suspected stolen crude oil and illegally refined diesel at three sites in Rivers State. The Director of Naval Information, Navy Captain Abiodun Folorunsho, disclosed this in a statement issued to newsmen on Monday in Abuja. The Naval Director said the...
President Bola Ahmed Tinubu has announced a massive drop in the nation’s reliance on crude revenues, signaling a decisive shift toward a diversified economy that his administration intends to push even further. He noted that, driven by the Renewed Hope Agenda, the administration has built a diversified, high-growth economy—unlocking...
Nigerian Navy has disrupted two illegal refining sites and recovered about 58,000 litres of products suspected to be stolen crude oil and illegally refined Automotive Gas Oil (AGO) in Rivers State. The operation was conducted on October 3, 2026, at Otapha, Okarki Community in Ahoada West Local Government Area,...
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu “to direct the Midstream and Downstream Gas Infrastructure Fund (MDGIF), Abuja and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to urgently account for over ₦94.4 billion in public funds reportedly diverted, unremitted, unaccounted for or irregularly spent.” The...
The Nigerian Navy, through FOB BONNY, has dismantled an illegal refining site discovered in Promise Land Community along Nanabie Creek, Bonny Local Government Area of Rivers State, further denying criminal operators the infrastructure required to process stolen crude oil. Director Naval Information, Navy Captain Abiodun Folorunsho, disclosed this in...
Nigeria’s national oil company, NNPC Limited, has announced a Profit After Tax of ₦7.2 trillion for the 2025 financial year, representing a 33 per cent increase from the ₦5.4 trillion recorded in 2024. The company also declared a record dividend of ₦5.8 trillion for shareholders after its Annual General...
Nigerian Navy personnel have uncovered 119,850 litres of suspected stolen crude oil and 25 parcels of suspected Cannabis sativa at an illegal refining site in Rivers State. Director of Naval Information, Navy Captain Abiodun Folorunsho, disclosed this in a statement issued to newsmen on Saturday. Captain Folorunsho said the...
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has said the planned Initial Public Offering (IPO) of the Dangote Petroleum Refinery is designed to allow ordinary Nigerians to become shareholders in the company. Speaking at the IPO signing ceremony in Lagos on Monday, Dangote said the initiative...
Nigerian Navy personnel have uncovered another attempt by suspected illegal refiners to revive their operations in Egbema-Ndoni, Rivers State, recovering about 33,000 litres of products suspected to be illegally refined Automotive Gas Oil, AGO. The latest raid, carried out on Sunday, September 6, 2026, is significant because it came...
Global oil prices climbed sharply on Wednesday after Iran launched retaliatory attacks against American interests in the Middle East following fresh US military strikes, raising fears of prolonged disruption to global energy supplies and renewed inflationary pressure. Crude prices gained more than two per cent, extending weekly gains to...
Step by step, Nigeria’s crude oil output is climbing. And for the first time in as many years, it has edged past the OPEC quota of 1.5 million barrels per day. Analysts point to the efforts of Tantita Security Services as chief reason for the rising volume in crude...
Step by step, Nigeria’s crude oil output is climbing. And for the first time in as many years, it has edged past the OPEC quota of 1.5 million barrels per day. Analysts point to the efforts of Tantita Security Services as chief reason for the rising volume in crude...
Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the Federal Government’s signing of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, describing it as a landmark reform that significantly enhances Nigeria’s competitiveness for deep offshore investment and strengthens the nation’s pathway towards achieving its...
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that Nigeria recorded a 97.4 per cent compliance rate with the Domestic Crude Supply Obligation (DCSO) during the second quarter of 2026, with a total of 53.7 million barrels of crude oil and condensate supplied to local refineries. The commission disclosed...