News
Industry updates and insights from Raffles Energies.
Tinubu urges IOCs to give local firms more energy contracts
President Bola Tinubu has urged international oil companies operating in Nigeria to give competent Nigerian engineering and manufacturing firms greater opportunities to take part in major energy projects.
Read moreUN hails Nigeria-Morocco gas pipeline project as booster of Africa’s energy security
The United Nations Economic Commission for Africa (ECA) has hailed the Nigeria–Morocco gas pipeline project as a major initiative to expand energy access across Africa.
Read moreFG begins mass revocation of idle oil blocks next week
The Federal Government will begin a mass revocation of idle oil blocks next week as the Nigerian Upstream Petroleum Regulatory Commission moves to recover assets from operators who have failed to commence development within stipulated timelines.
Read moreForeign oil firm eyes Nigeria’s 2026 oil licensing round
Indonesia’s state-owned oil company, Pertamina, is considering investment opportunities in Nigeria’s upstream oil and gas sector, including producing assets and projects nearing final investment decisions, as the Nigerian Upstream Petroleum Regulatory Commission moves to attract more international capital into the industry.
Read morePetrol price hike looms as oil hits $110/barrel
•Marketers warn of higher distribution costs •Refiners seek cheaper crude Nigeria faces fresh pressure on petrol and diesel prices following a sharp rally in global crude oil prices to nearly $110 per barrel at the weekend.
Read moreArtisans urge CNG operators to cut fares
The Coalition of Nigerian Artisan Associations (CONAA) has urged commercial transport operators using Compressed Natural Gas (CNG) vehicles to reduce fares below those charged by petrol-powered vehicles, while declaring support for President Bola Tinubu’s re-election bid ahead of the 2027 general elections.
Read moreFAAC allocation rises to N2.43tn as oil revenue rebounds
The Federal Government, 36 states and 774 local government councils shared N2.428tn from the Federation Account in October 2026, representing an increase of N90bn, or 3.85 per cent, from the N2.338tn distributed in September.
Read more‘Host communities key to 2mbpd oil target’
The Pipeline Infrastructure Nigeria Limited (PINL) has said host communities and stakeholders along the Trans Niger Pipeline (TNP) and Eastern Gas Network (EGN) will play a decisive role in Nigeria’s efforts to achieve its oil and gas production targets for 2027 and 2030.
Read moreNigeria’s oil output hits 1.53 million bpd, maintains OPEC quota for fifth month
Nigeria maintained compliance with its production quota set by the Organization of the Petroleum Exporting Countries (OPEC) for the fifth consecutive month in September, as crude oil output rose to 1.53 million barrels per day (bpd) from 1.50 million bpd in August.
Read moreNUPRC targets recovery of 788,000bpd shut-in oil from 63 operators
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it is targeting the recovery of more than 788,000 barrels per day of shut-in oil production across 63 operators. The Commission Chief Executive, NUPRC, Mrs.Oritsemeyiwa Eyesan, disclosed this at the annual conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos with the theme:”Access to Assets:Empowering Players & Driving Growth”.
Read more215 TCF gas reserves meaningless without infrastructure, investment –Minister
Nigeria’s 215 trillion cubic feet (Tcf) of proven gas reserves will have little economic value unless the country overcomes infrastructure, financing, regulatory and market-access constraints limiting their development, Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has said.
Read moreNUPRC: 2025 oil licensing round could add 500 million barrels to Nigeria’s reserves
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says assets offered in its 2025 oil licensing round could add about 500 million barrels to Nigeria’s crude oil reserves and at least 300,000 barrels per day (bpd) of crude oil and condensate production within five years.
Read moreRepositioning the national oil company to create greater value for Nigeria in a changing petroleum industry
In 1956, at Oloibiri, Nigeria’s oil story began with a commercial discovery. Two years later, the first Nigerian crude was exported. Oil entered the national economy as a resource to be explored, produced and sold. Nigeria’s challenge was to secure a lasting stake in that business. To participate in production, build its own petroleum expertise and capture greater value from the crude beneath its soil. That is where the story of NNPC begins.
Read moreNigeria’s CNG supply to overtake petrol availability soon
Nigeria’s supply of Compressed Natural Gas (CNG) could soon surpass the availability of petrol as the Federal Government expands gas infrastructure and accelerates vehicle conversions across the country.
Read moreNNPC commits N473.8bn to major gas infrastructure
The Nigerian National Petroleum Company Limited committed N473.8bn to gas infrastructure projects, including the proposed Nigeria-Morocco Gas Pipeline, in 2025, while N25.7bn in interest on the facility remained outstanding at the end of the year.
Read more‘Sustained investment, infrastructure development will position Nigeria as Africa’s gas leader’
President of the International Gas Union (IGU), Andrea Stegher, has urged the Federal Government to sustain investment in gas and gas infrastructure development at the right scale and pace to unlock Nigeria’s vast natural gas potential and position the country as a gas-driven powerhouse in Africa.
Read moreNLNG to raise cooking gas output by 50%
The Nigeria Liquefied Natural Gas company is planning to increase its Liquefied Petroleum Gas (cooking gas) production by 50 per cent by the end of 2027, as the firm seeks to meet rising demand for cooking gas in Nigeria.
Read moreAsiko unveils 5,000MT tri-fuel terminal, eyes LNG expansion
Asiko Energy Holdings Limited has completed the first phase of its tri-fuel terminal in Ijora, Lagos, unveiling a fully mounded 5,000-metric-ton LPG and propane storage facility as part of efforts to deepen investment in Nigeria’s gas infrastructure. The terminal was developed as part of the company’s broader vision of establishing a world-class tri-fuel facility capable of handling LPG, propane and LNG.
Read moreNNPC’s profit rose 33.3% to N7.2trn in 2025
NNPC Limited says its profit after tax rose by 39 per cent to N7.2 trillion in 2025, from N5.4 trillion in 2024, driven by improved operational efficiency, while crude oil and condensate production reached a five-year high of 1.77 million barrels per day.
Read moreNigeria’s oil and gas sector receives major boost with NIPCO’s $3bn FLNG project
NIPCO Gas Limited has announced plans to develop a Floating Liquefied Natural Gas project in Nigeria, with the proposed development estimated to require more than $3 billion in investment.
Read moreOil production reaches 307m barrels in six months – FG
Nigeria produced about 307 million barrels of crude oil and condensate between March and August 2026, according to data from the Nigerian Upstream Petroleum Regulatory Commission.
Read morePresidency: $800m Ima gas project reaches FID, 53 years after discovery
A GAS resource discovered offshore Nigeria in 1973 is set for development after AMNI International and TotalEnergies reached a Final Investment Decision (FID) on the $800 million Ima Gas Project, the Presidency has said.
Read moreFG plans Nigeria-Libya gas pipeline revival, opens new LNG markets
Nigeria has stepped up efforts to unlock new international markets for its vast gas reserves, with a plan to take the proposed Nigeria-Libya Gas Pipeline beyond the conceptual stage towards a formal project framework.
Read moreIndonesia Commits to Help Achieve Nigeria’s 3m Barrels Daily Oil Production Target
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has opened discussions with Indonesia on petroleum investments even as the Indonesian national oil company, Pertamina signaled an interest in the upcoming 2026 licensing round and indicated commitment to help realise Nigeria’s three million barrels per day (bpd) oil production target by 2030.
Read moreNUPRC: Nigeria’s gas exports rise 19% to 733,778 MMSCF in eight months
Nigeria’s natural gas exports rose by 19 % year-on-year to 733,778 million standard cubic feet (MMSCF) in the first eight months of 2026. This is according to Nairametrics’ analysis of data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Read moreNLNG urges global gas producers to cut methane emissions
Nigeria Liquefied Natural Gas has urged the global gas industry to make methane reduction a business priority, calling emissions lost gas and lost revenue. The company disclosed this in a statement on Wednesday. NLNG’s managing director, Adeleye Falade, made the call at the ongoing Gastech 2026 Exhibition and Conference in Bangkok, Thailand.
Read moreNLNG: $10 Billion Train 7 LNG Project to Begin Operations by End of 2027
Nigeria Liquefied Natural Gas Limited (NLNG) has said its $10 billion Train 7 project is expected to commence operations by the end of 2027, as the company works to raise production and address persistent gas supply constraints. Managing Director of NLNG, Adeleye Falade, disclosed this yesterday on the side-lines of the Gastech conference in Bangkok, Reuters reported.
Read moreNNPC targets 12bcf/d gas output by 2030
In a fresh push to position the country as a major global gas supply hub, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has unveiled an ambitious plan to more than double Nigeria’s gas resource potential while also increasing national production.
Read moreNigeria’s oil output rises 0.4% in August
Nigeria’s crude oil and condensate production rose by 0.4 per cent to 1,677,777 barrels per day (bpd) in August 2026. The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its crude oil and condensate statistics report released on Sunday.
Read moreNNPC to deploy 70 self-service filling stations nationwide
The Nigerian National Petroleum Company Limited has announced plans to deploy between 50 and 70 smart, self-service filling stations across the country within the next six months.
Read moreLEKOIL targets 100,000 bpd output, production growth
LEKOIL Nigeria Limited, an Africa-focused oil and gas exploration and production company, has outlined its next phase of growth, focusing on advancing its portfolio towards production, developing reserves and commercialisng its gas resources.
Read moreDiesel races to N2,000, refiners seek govt rescue
As the price of diesel nears N2,000 per litre, the Crude Oil Refinery Owners Association of Nigeria has called on the Federal Government to urgently intervene, warning that the development could worsen production costs, food inflation and the cost-of-living crisis.
Read moreNNPC Posts N25.13tn Revenue in Seven Months, Records N2.55tn Profit
The Nigerian National Petroleum Company Limited (NNPC) generated a cumulative revenue of N25.133 trillion between January and July 2026, mainly driven by relative growth in crude oil output, sustained natural gas production, and expanding operational receipts, a THISDAY analysis has shown.
Read moreTantita: New investments, pipeline security are pathways to achieving 2.5mbpd oil target
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is leading the push to hit the 2.5 million barrels per day (mbpd) goal. The Commissions officials plan to revive dormant oil fields, unlock deepwater resources, and attract new foreign investments to the sector. The sustainance of Tantita Security Services Nigeria Ltd (TSSNL) operations in the protection of national assets, especially oil pipelines in the Niger Delta region equally come handy in the quest to achieve these targets.
Read moreNigeria eyes faster growth as oil production recovers
Nigeria is targeting faster economic growth in 2026 as recovering crude oil production, structural reforms, and improved macroeconomic conditions strengthen prospects despite prevalent risks.
Read moreThe long wait for Nigeria-Morocco gas pipeline
It has been nearly a decade since the vision of a transcontinental gas pipeline linking Nigeria’s vast reserves to Morocco and, ultimately, European markets were conceived. What began as a historic diplomatic overture by King Mohammed VI of Morocco in 2016 has now been rebranded as the African Atlantic Gas Pipeline (AAGP), secured the endorsement of the Economic Community of West African States (ECOWAS)how, and accumulated a staggering price tag exceeding $25 billion.
Read moreDuke Dismisses Fuel Subsidy Debate As Scam, Says Petrol Can Sell For N200
Former Cross River State Governor and presidential candidate of the Peoples Redemption Party, Donald Duke, has dismissed Nigeria’s fuel subsidy debate as a “scam”, arguing that petrol could sell for about N200 per litre if the country properly harnesses its crude oil resources and other petroleum products.
Read moreGive local refineries 450,000bpd crude allocation, Falana tells govt
As debates over the removal of fuel subsidies intensify, human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Federal Government to deploy the 450,000 barrels of crude oil it sets aside daily for domestic consumption to local refineries, saying the move could significantly reduce the price of petrol in the country.
Read moreTop 10 largest oil refineries in Africa in 2026
Africa is home to some of the continent’s largest oil-refining facilities, with countries such as Nigeria, Algeria, Egypt, Libya and South Africa playing major roles in the refining sector. NigerianPartnership Consulting.
Read morePENGASSAN seeks expansion of domestic refining capacity
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called for sustained policies and investments to expand Nigeria’s domestic refining capacity.
Read moreAs Nigeria’s Dangote refinery nears record IPO, investors focus on oil supply costs
Nigeria’s Dangote Refinery, the largest on the continent, is expected in October to seek to raise around US$5 billion in Africa’s biggest IPO listing yet, after months of strong earnings, boosted by the disruption caused by the Iran war.
Read moreNigeria’s H1 Gas Output Jumps 18.36% as NAG Surges 40.42%
Nigeria’s gross natural gas production increased by 18.36 per cent between the first half of 2024 and H1 2026, rising from 1,205,000.81 Million Standard Cubic Feet (MMSCF) to 1,426,237.86 MMSCF, but posted a 3.08 per cent growth from 1,383,656.28 MMSCF year-on-year, a THISDAY review of data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has shown.
Read moreTantita: Leveraging Tech, Partnerships for Oil Assets Protection
Technology and partnerships are playing a crucial role in ensuring effective and proactive protection of oil assets in today’s dynamic security landscape. Tantita Security Services Nigeria Limited (TSSNL) is combining both in ensuring that oil assets are efficiently protected and production quota met.
Read moreExxonMobil’s Esso to add 40,000bpd to Nigeria’s oil output
Nigeria’s oil production is set for a boost as Esso Exploration and Production Nigeria (Offshore East) Limited, an ExxonMobil subsidiary, begins a new drilling campaign expected to add up to 40,000 barrels per day (bpd) to output within 18 months.
Read moreNigeria’s oil output could top 1.7mbpd, NESG sees fiscal relief from higher prices
Nigeria’s crude oil production is expected to exceed 1.7 million barrels per day (mbpd) in the second half of 2026, while higher crude oil prices could improve the country’s fiscal outlook.
Read moreTantita links oil production gains to pipeline security, 60,000 jobs
Tantita Security Services Nigeria Limited has linked the recent improvement in Nigeria’s crude oil production and economic activities in the Niger Delta to sustained pipeline surveillance and community-based security measures, including the employment of over 60,000 youths.
Read moreNigeria’s budget under pressure as offshore oil output falls
Nigeria’s fiscal position remains under pressure despite a strong rally in international oil prices, as persistent weaknesses in offshore crude production leave output below the level assumed in the 2026 federal budget, MoneyAfrica said in its newsletter on Monday.
Read moreCNG can cut mobility costs, create jobs, drive industrial growth – NADDC DG
The National Automotive Design and Development Council (NADDC) and the National CNG Forum (NCNG-F) have called for stronger collaboration among government, the private sector and other industry stakeholders to maximise the economic and industrial opportunities presented by compressed natural gas (CNG) in Nigeria.
Read moreOil output, reforms sustain Nigeria’s economic growth – OPEC
Nigeria’s economic outlook remains positive as improved macroeconomic stability, steady oil production, recovering private-sector activity and continued reforms support economic expansion, the Organisation of the Petroleum Exporting Countries has said.
Read moreSPE pushes for oil industry policy certainty, cheaper capital
Nigeria’s ambition to turn its vast hydrocarbon resources into sustainable economic growth is facing a defining test: whether the country can create the policy certainty, financing environment, technology base and human capital needed to convert resources into bankable projects.
Read moreNigeria contributes to OPEC’s July production rise of 1.17mbpd
OPEC’s total oil production jumped by 1.17 million barrels per day (bpd) in July from June as many Gulf producers restored some output that was shut in for three months due to the closed Strait of Hormuz.
Read moreNUPRC: Local refineries receive 53.7 million barrels of crude in Q2 2026
Domestic crude oil and condensate supply to local refineries reached 97.4% in the second quarter of 2026, with 53.7 million barrels supplied between April and June, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Read morePipeline security is key to Nigeria’s energy future
The Pipeline Infrastructure Nigeria Limited (PINL) has stated that the continued protection of oil pipelines is the major element to guarantee Nigeria’s energy future.
Read moreAKK pipeline reaches Abuja as NNPC eyes inauguration
The Ajaokuta-Kaduna-Kano gas pipeline has reached Abuja, with the Nigerian National Petroleum Company Limited targeting phased commissioning of the major gas project later this year.
Read moreNigeria eyes $50bn from 22 offshore oil, gas projects
Nigeria is positioning itself for a fresh wave of upstream investment, with 22 major offshore oil and gas projects expected to attract between $30 billion and $50 billion in investments over the next five years, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed.
Read moreNLNG, CORA celebrate 11 poets on Nigeria Prize longlist
The Nigeria LNG Limited, in partnership with the Committee for Relevant Art, on Sunday celebrated the 11 poets longlisted for the 2026 edition of The Nigeria Prize for Literature at the annual CORA Book Party held in Lagos.
Read moreSPE sees Nigeria hitting 3mbpd oil output by 2030
Nigeria’s oil and gas industry is regaining global investor confidence as reforms, transparent licensing rounds and accelerated gas development reposition the country as an attractive investment destination towards the prospects of achieving three million barrels of oil production per day by 2030, the Society of Petroleum Engineers (SPE) Nigeria Council has said.
Read moreNigeria earns N24tn from crude exports in six months
Nigeria exported an estimated 182.2 million barrels of crude oil worth N24.02tn in the first half of 2026, as elevated international oil prices lifted the value of the country’s crude shipments despite concerns over inadequate feedstock for domestic refineries.
Read moreIdris: Nigeria Will Deploy Gas as Catalyst for Industrial Growth
Nigeria will deploy its over 200 trillion cubic feet of natural gas reserves as a catalyst for industrial growth, the Minister of Information and National Orientation, Mohammed Idris has declared, stressing that the quantity of gas reserves in the country ranks the nation among the largest in Africa.
Read moreNigeria’s gas ambitions should begin at home
In 2021, Nigeria declared a Decade of Gas, positioning natural gas as the bridge fuel for industrialisation and the centrepiece of its energy strategy. The ambition was, and remains, the right one. With more than 200 trillion cubic feet of proven reserves, Nigeria possesses Africa’s largest gas endowment and one of the world’s most significant untapped energy resources.
Read moreNigeria retains Africa’s upstream investment lead despite capital decline
Nigeria has retained its position as one of Africa’s dominant oil and gas investment destinations despite a sharp decline in upstream capital flowing into the continent, with the International Energy Agency revealing that the country and four other major producers still account for 70 per cent of Africa’s upstream investment and 80 per cent of its crude oil and gas production.
Read moreUS-Iran war: Nigeria tops Africa in petrol price surge
Nigeria recorded the sharpest increase in petrol prices across Africa during the first half of 2026, with pump prices surging by 39.5 per cent as the Middle East conflict disrupted global crude oil supplies.
Read moreNLNG eyes Trains 8-10, generates $150bn revenue
NLNG has unveiled plans to expand its liquefied natural gas (LNG) production beyond the ongoing Train 7 project, announcing that it has begun preliminary work on Trains 8, 9 and 10.
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