The Federal Competition and Consumer Protection Commission (FCCPC) has questioned the slow pace of reductions in petrol prices across Nigeria despite a sharp decline in global crude oil prices. It warned that operators in the downstream sector could face regulatory scrutiny if evidence of consumer exploitation is established, reports Daily Tru...
Stakeholders in Nigeria’s economy have implored refiners, depot owners, and fuel importers to reduce their prices. They say international crude oil prices have dropped, so pump prices and ex-depot costs should also be reduced, reports Daily Independent. The National President of The Petroleum Products Retail Outlets Owners Association of Niger...
Crude oil price climbed to $105 per barrel today as US-Iran talks stalled, while markets were mixed as traders appeared to shrug off uncertainty over the 10-week-old war. Optimism over Washington’s proposal to Iran to ease the conflict collapsed when Trump told reporters yesterday that Iran’s counteroffer was “garbage”, reports AFP. Trump warn...
Global crude oil prices are edging close to the $120 per barrel mark as renewed tensions in the Middle East disrupt supply expectations and rattle energy markets, raising fresh concerns for fuel prices. Benchmark crude, including Brent crude, has surged sharply in recent days amid fears of supply constraints linked to geopolitical instability ...
The Nigerian National Petroleum Company Limited has raised the official selling prices of all 37 Nigerian crude grades for May-loading cargoes, according to a report by Oilprice.com. The report stated that Nigeria is reaping the benefits of the US-Iran war, as the NNPC increased the price of its flagship grade, Bonny Light, by $6.13 per [&hell...
Nigeria’s revenue is about to receive a boost as Japan has contacted crude oil suppliers in countries across the world, including Nigeria, to ensure a stable domestic supply while searching for non-Middle East barrels amid conflict in the region that has disrupted global supply. Narumi Hosokawa, deputy director-general for immediate crisis man...
The ambitious deal between the Dangote Petroleum Refinery and Nigerian National Petroleum Company Limited is facing challenges, as the refinery experienced a crude oil supply shortfall of approximately 79.53 million barrels between October 2025 and mid-March 2026, according to findings. Data obtained from an impeccable senior management source...
Oil prices climbed after sliding to a one-month low in the previous session. Brent crude futures rose 27 cents, or 0.43%, to $62.75 a barrel at 0512 AM WAT today, while U.S. West Texas Intermediate crude futures gained 24 cents, or 0.41%, to $58.19 a barrel. Both Brent crude and WTI settled down 89 cents […]
•Governor Seyi Makinde of Oyo State The Oyo State government has debunked reports circulating on social media claiming that crude oil was discovered in a well at Yemetu, Ibadan. The government, through the Ministry of Environment and Natural Resources, clarified that its investigations revealed the substance found was diesel, not crude oil, re...
•Barrels of crude oil The United States became a net exporter of crude oil to Nigeria in February and March, as crude demand on the U.S. East Coast slowed due to refinery maintenance, and the Dangote refinery drove up Nigeria’s demand for inputs. A note by the U.S. Energy Information Administration yesterday said gross U.S. […]
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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