crude oil

Business

NNPC’s Oil Security Receivables Hit N11.2tn

Ogochukwu Onwaeze, THEWILL -
The disclosure highlights the substantial financial obligations associated with protecting oil and gas infrastructure against crude oil theft, pipeline vandalism and other disruptions, even as NNPC reported higher production and a 33 percent increase in profit after tax.
Business

Nigeria Must Grow Crude Supply as Refinery Demand Rises, FG Says

Ogochukwu Onwaeze, THEWILL -
The Federal Government has said Nigeria must progressively move away from an economy centred on crude oil exports and capture more value through domestic refining, petrochemicals and related industrial activities.
Business

Oil Jumps 3.8% Above $108 as US-Iran Peace Talks Stall

Ogochukwu Onwaeze, THEWILL -
Brent crude futures rose $3.98, or 3.82 percent, to $108.30 a barrel by 0959 GMT, while US West Texas Intermediate (WTI) gained $3.52, or 3.81 percent, to $95.93 a barrel.
Business

Oil Jumps 4% to $107 as Saudi Missile Attacks Renew Nigeria’s Fuel-Price Fears

Joy Onuorah, THEWILL -
Brent crude futures rose $4.10 to $107.18 a barrel by 4.09 pm Nigerian time, while US West Texas Intermediate gained $3.66 to $95.82. Both figures were intraday prices, according to Reuters.
Business

Dangote Cuts Petrol Price To ₦1,325 As Crude Slips Below $100

Ogochukwu Onwaeze, THEWILL -
Dangote Petroleum Refinery and several petroleum marketers have reduced petrol prices at major depots following a decline in international crude oil prices.
Business

Oil Above $100: Five Ways the Rally Could Affect Nigeria

Ogochukwu Onwaeze, THEWILL -
Nigeria is getting a major boost from crude oil prices trading above $100 per barrel, but the windfall could come with high costs for households and businesses.
Headline

Hormuz On The Brink: Iran-Gulf Talks Collapse as Crude Prices Surge Over 3% to $108.23

Felix Ifijeh, THEWILL -
The development triggered a fresh surge in crude prices, with Brent crude futures jumping $3.62, or 3.46 per cent, to $108.23 per barrel as of 2214 GMT, while US West Texas Intermediate (WTI) futures rose $3.15, or 3.15 per cent, to $103.20 per barrel.
Business

Nigeria’s Oil Output Slips 5,000bpd To 1.5mbpd In August

Ogochukwu Onwaeze, THEWILL -
The figures, contained in OPEC’s September 2026 Monthly Oil Market Report, showed that Nigeria’s crude production averaged 1.50 million barrels per day (mbpd) in August, compared with 1.505mbpd in July.
Business

Iran Oil Exports Collapse 85 Percent as US Sanctions Push Crude Towards $100

Ogochukwu Onwaeze, THEWILL -
Brent crude climbed towards $100 per barrel as US sanctions and disruptions to Iranian oil exports tightened global supply concerns. Iranian crude loadings have plunged to about 260,000 barrels per day from 1.7 million bpd a year ago,...
Business

NNPC Profit Drops 47.9 Percent to N279bn as Crude, Gas Output Weaken

Ogochukwu Onwaeze, THEWILL -
The decline reversed much of the strong earnings improvement recorded between March and June, when monthly profit rose from N276 billion to N481 billion in April, N462 billion in May and N535 billion in June.
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Latest News

NewsFelix Ifijeh, THEWILL -

Italy-Bound Businessman Intercepted With Cocaine Consignments In Shoe Soles, Bag Railings

Operatives of the National Drug Law Enforcement Agency (NDLEA) have intercepted a Milan-bound businessman with 4.80 kilograms of cocaine concealed in the soles of shoes and the railings of travelling bags at the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos.
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