Tag: petroleum

Oil prices drop amid US withdrawal from Iran as global markets react to easing Middle East tensions

Business Damilola Bayonle -
Global oil markets recorded a sharp pullback on Wednesday as geopolitical signals from Washington suggested a possible de-escalation in...

FG fast-tracks dormant oil wells revival as Nigeria targets higher crude output amid price surge

Business Damilola Bayonle -
Nigeria is intensifying efforts to recover lost crude output and capitalise on favourable oil prices, as regulators move to...

Africa turns to Dangote refinery as fuel crisis deepens amid global supply disruptions

Business Damilola Bayonle -
African economies are increasingly pivoting toward local refining capacity as global supply disruptions reshape fuel sourcing dynamics, with the...

Local refiners move to slash petrol imports as Dangote, modular plants power output surge

Business Damilola Bayonle -
Nigeria’s downstream petroleum sector is approaching a potential turning point as domestic refiners intensify efforts to cut petrol imports...

OPEC confirms Nigeria 1.5mbpd oil quota for 2026: Boosting stability and global confidence

Business Damilola Bayonle -
The Organisation of Petroleum Exporting Countries (OPEC) has confirmed that Nigeria’s crude oil production quota will remain at 1.5...

NNPCL Targets 1.8m Barrels Daily Crude Oil Output Before End of 2025

Business Damilola Bayonle -
The Nigerian National Petroleum Company Limited (NNPCL) says it is on course to raise Nigeria’s crude oil output to...