May 26 (THEWILL) — The Dangote Petroleum Refinery has emerged as a strategic lifeline for Nigeria’s economy, with S&P Global Ratings describing the facility as a critical buffer against growing supply disruptions and geopolitical tensions in the Middle East.
In...
May 04, (THEWILL) — Despite holding one of Africa’s largest crude oil reserves, Nigeria continues to underperform its production potential, highlighting deep structural weaknesses in the sector, according to recent data from the Organisation of the Petroleum Exporting Countries...
April 21, (THEWILL) — Global oil prices eased on Tuesday, offering cautious optimism to energy markets, as renewed diplomatic engagement between the United States and Iran strengthened expectations of improved crude supply from the Middle East.
Brent crude futures...
April 16, (THEWILL) — Nigerian crude grades rebounded in Asian trading on Thursday, recovering from earlier losses and trading at a notable premium over global benchmark Brent, supported by stronger-than-expected economic data from China.
Brass River, a key Nigerian...
April 14, (THEWILL) — Nigeria’s crude oil production remained below its quota set by the Organisation of the Petroleum Exporting Countries (OPEC), extending a streak of underperformance to eight consecutive months.
According to OPEC’s April Monthly Oil Market Report, the...
March 31, (THEWILL) — Nigeria could benefit from rising global oil prices in the week ahead, although geopolitical tensions and mixed signals from global policymakers may introduce fresh volatility into financial markets.
This outlook was shared by Lukman Otunuga, the...
March 11, (THEWILL) — The International Energy Agency (IEA) has approved the release of 400 million barrels of oil from emergency reserves of its 32 member countries, a historic move aimed at stabilizing global markets disrupted by the ongoing...
March 09, (THEWILL) — Nigerians are to embrace a fresh spate of cost-of-living crisis as crude oil soared past $110 per barrel in the international market on Sunday, March 8, 2026, amid ongoing war in the Persian Gulf. The...
February 26, (THEWILL) — Nigeria’s crude oil has staged a notable rally, climbing past the $70 per barrel mark and moving above the benchmark set by the Federal Government of Nigeria for its 2026 budget projections.
The surge comes as...
February 24, (THEWILL) — Nigeria’s state-owned oil company, the Nigerian National Petroleum Company (NNPC), is preparing to export a newly developed crude oil grade called Cawthorne starting in March 2026, in a move expected to further lift the country’s...
The President, Bola Ahmed Tinubu has flagged off the construction of the $3.5 billion Bakassi Deep Seaport in Cross River State, describing the project as a strategic investment that will reduce pressure on Lagos ports and reposition Nigeria’s maritime industry.
