Nigeria meets 104% of OPEC quota as crude oil production hits 74-month high

NMDPRA Report: Dangote Refinery Dominates Nigeria’s Petrol Supply With 87.55% Share In May

Dangote Refinery supplied 87.55 of Nigeria’s petrol in May 2026.

See more as NMDPRA reports petrol consumption at 46.3m litres daily in May

Nigeria’s petrol consumption averaged 46.3 million litres daily in May 2026, as domestic refineries improved fuel supply balance across the downstream sector.

Nigerian Equities Surge Past South Korea’s Kospi To Lead Global Returns In 2026

Africa’s largest oil producer has claimed the top spot for global stock market returns, with Nigerian equities delivering 67 gains in dollar terms so far this year. That figure edges out South Korea’s Kospi index, which posted a 66 dollar-denominated return, according to Bloomberg data tracking 92 global stock exchanges. The Kospi has since fallen [] The post Nigerian Equities Surge Past South Korea’s Kospi To Lead Global Returns In 2026 appeared first on Foreign Policy Journal.

Petrol Price: FG directs NMDPRA to end profiteering by oil marketers

By Obas Esiedesa, Abuja The Federal Government has directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, to ensure that petroleum marketers do not exploit Nigerians through excessive pricing under the deregulated downstream market. Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, gave the directive on Monday in Abuja while delivering the [] The post Petrol Price: FG directs NMDPRA to end profiteering by oil marketers appeared first on Vanguard News.

Muslim group urges Nigerian Govt to force fuel price down below N700 per litre

The Muslim Media Watch Group of Nigeria, MMWG, has called on the Federal Government to compel petroleum marketers to reduce fuel prices, arguing there is “no basis” to keep petrol above N1,000 per litre now that global oil prices have dropped to pre-war levels. In a statement issued on Friday and signed by its National Coordinator, Alhaji [] Muslim group urges Nigerian Govt to force fuel price down below N700 per litre

ExxonMobil to Invest $1 Billion in Nigeria

ExxonMobil and its partners will invest 1 billion in the Usan Infill Project offshore Nigeria, a development expected to add about 40,000 barrels per day (bbl/d) of crude oil production. ExxonMobil Nigeria Managing Director Jagir Baxi confirmed the investment commitment during an industry conference in Abuja, Nigeria. The investment marks ExxonMobil’s return to drilling activity [] The post ExxonMobil to Invest 1 Billion in Nigeria first appeared on Egypt Oil Gas.

Crude price fall: FCCPC frowns at exploitation in oil market, to sanction profiteers

The Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over findings from an ongoing surveillance of the downstream petroleum market suggesting undue exploitation of consumers. In its statement, FCCPC stated that a review of the gantry prices of local refiners, marketers, depot operators and retail outlet operators revealed token reductions in prices that The post Crude price fall: FCCPC frowns at exploitation in oil market, to sanction profiteers appeared first on Dateline Nigeria.

Nigeria Pushes Trade, Investment Through Reforms

Nigeria is intensifying efforts to grow trade, attract investments and boost non-oil exports as part of its economic diversification agenda. Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this at the 2026 Top Management Retreat of the Federal Ministry of Industry, Trade and Investment (FMITI) in Abuja. READ ALSO: Nigeria Launches Cooperative Digitalisation, Bank Reform [] The post Nigeria Pushes Trade, Investment Through Reforms appeared first on Voice of Nigeria.

U.S. April Oil Production: Another Record High

U.S. April Oil Production: Another Record High

Libya Exports Crude Oil to Nigeria for the First Time

Libya has exported crude oil to Nigeria for the first time, supplying nearly two million barrels during May as Nigerian refineries sought alternative feedstock to offset shortages in domestic crude supplies. According to Nigeria’s Punch newspaper, citing data from the Energy Research Unit, Nigeria imported an average of 64,500 barrels per day of Libyan crude [] The post Libya Exports Crude Oil to Nigeria for the First Time appeared first on LibyaReview.

OPEC+ countries boost oil production by 2.17 mln bpd in June but remain below target — IEA

According to the IEA, the target production level for OPEC+ countries voluntarily limiting oil output stood at 33.89 mln bpd in June, while actual production amounted to 26.38 mln bpd

Dangote’s Refinery Rewrites Africa’s Energy Role

Nigeria’s Dangote Petroleum Refinery became the world’s largest exporter of jet fuel in April 2026, marking a significant shift in global energy markets and Africa’s position within industrial supply chains. According to industry data cited in the report, the refinery exported approximately 158,000 barrels of aviation fuel per day, overtaking traditional suppliers and highlighting the...