The Nigerian National Petroleum Company (NNPC) Limited has reduced the pump price of petrol to N890 per litre in Abuja. The latest increase comes one week after the national oil firm dropped the commodity’s price to N895 – representing a N5 decrease. TheCable observed on Wednesday that the petrol pump price was reviewed downwards in…
The West African region has unveiled the timeline for accomplishing its refinery hub goals. Countries in the subregion are to sign harmonized refinery regulatory agreements in the fourth quarter (Q4) of 2025. The timeline was part of the highlights from the two-day Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)/ S&P Global Commodity Insights Conference…
The Securities and Exchange Commission (SEC) is actively engaging with emerging technologies and digital innovators to craft regulatory frameworks that support capital market innovation without compromising investor protection, its Director-General, Dr. Emomotimi Agama, has said. Delivering the keynote at the Comercio Partners H2 2025 Outlook event, Dr. Agama said Nigeria, like many countries, stands at…
Nigeria’s crude oil rigs increased from 44 of last week to 46 yesterday, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Its Chief Executive, Gbenga Komolafe, an engineer, made this known in Abuja during the Strategic Workshop for Media Practitioners organised by the NUPRC Public Affairs and Corporate Communications Unit. He said: “And again,…
Nigeria’s Dangote petroleum refinery will construct storage tanks in Namibia to hold at least 1.6 million barrels of gasoline and diesel to supply refined fuel to southern Africa, two sources told Reuters yesterday. The move underscores the refinery’s ambition to dominate fuel supply in Africa and beyond, potentially reshaping energy trade flows in the region…
A private entity, Backbone Infrastructure Nigeria Limited (BINL), has expressed its readiness to build $15 billion 500,000 barrels per day (bpd) refinery and establish a Free Trade Zone (FTZ) in Ondo State. It said it has concluded plans to construct and operate the plant at the Sunshine Industrial Park in Ogboti, Eruuna and Sunshine FTZ…
The Federal Government has said it remained committed to deploying innovative and fiscally responsible financing strategies to optimise Nigeria’s oil assets, enhance external liquidity, and strengthen macroeconomic stability. The government made the clarification as conversations continue around a proposed crude-for-loan arrangement with Saudi oil giant, Aramco. In a statement, the Federal Ministry of Finance addressed…
Vice-President Kashim Shettima has said Nigeria is pursuing a $25 billion undersea gas pipeline project aimed at supplying natural gas to Europe through the West African coastline. Mr Shettima disclosed this during a meeting with Vitol Group, the world’s largest independent commodity trader, at the Presidential Villa in Abuja. The Nigeria-Morocco gas pipeline project will…
The Association of Nigerian Refineries Petroleum Marketers (ANRPM), in conjunction with its Board of Trustees, has hailed President Bola Tinubu, on his second anniversary in office. The association noted that over the period, Nigeria has witnessed notable strides across various sectors, driven by visionary leadership, including a renewed focus on the blue economy. In a…
