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A service for energy industry professionals · Thursday, May 8, 2025 · 810,773,857 Articles · 3+ Million Readers
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Nigeria Crude Oil News Monitoring

  • Published on May 6, 2025

    Nigeria: Naira depreciates as crude oil price falls below $60

    The Naira weakened further against major currencies on Monday following a sharp decline in global crude oil prices, which dipped below the $60 per barrel mark. This drop has heightened concerns about Nigeria’s economic stability, given the country’s …

    Source: Zawya - Indeterminate
  • Published on May 6, 2025

    Brent crude rally lifts some pressure off Naira

    The naira remained stable at N1610–N1615 on the unofficial market as oil prices recovered above $61 per barrel, while the dollar index stayed stable in the global currency market. Oil prices rebounded by over 1% on Tuesday, driven by technical corrections …

    Source: Nairametrics - Neutral
  • Published on May 7, 2025

    ExxonMobil to invest $1.5 billion in Nigeria’s deepwater oil fields between Q2 2025-2027 

    ExxonMobil has affirmed its long-term commitment to Nigeria’s oil and gas sector with a planned $1.5 billion investment in deepwater exploration and development projects, a move set to reinforce confidence in the country’s upstream potential. The planned …

    Source: Nairametrics - Neutral
  • Published on May 6, 2025

    NUPRC must act on crude oil diversions

    Recent reports indicating that about 60 million barrels of crude oil meant for local refineries have been stranded in the high seas and unsold has once again highlighted the challenges being faced by the Nigerian oil and gas sector in meeting the domestic …

    Source: Daily Trust - Pending
  • Published on May 7, 2025

    Why poverty is worsening in Nigeria, by Obi

    • CUPP urges action to address ‘dire’ poverty crisis • IMPI faults IMF’s 3% economic growth forecast Presidential candidate of Labour Party (LP) in the 2023 general elections, Peter Obi, has said poverty is worsening in Nigeria because governments at all …

    Source: The Guardian (Nigeria) - Indeterminate
  • Published on May 5, 2025

    Crude Oil Slips Below $60 As OPEC+ Signals Supply Increase

    Crude oil prices slipped below the $60 mark on Monday, following the announcement by the Organisation of Petroleum Exporting Countries and its allies (OPEC+) of a planned increase in production. The move, aimed at gradually reversing previous voluntary …

    Source: Biz Watch Nigeria - Indeterminate
  • Published on May 7, 2025

    IMPI dismisses IMF, World Bank growth forecasts, highlights Nigeria’s stronger outlook

    The Independent Media and Policy Initiative (IMPI) has expressed skepticism over the International Monetary Fund’s (IMF) downgraded economic growth forecast for Nigeria in 2025, which was revised from 3.2 percent to 3.0 percent, citing the global oil slump …

    Source: The Sun Nigeria - Indeterminate
  • Published on May 7, 2025

    Nigeria's Renaissance halts oil output via pipeline after spill

    Nigeria's Renaissance Africa Energy Company has halted oil shipments via its Okordia-Rumuekpe pipeline in the coastal Rivers state following a spill, the independent oil firm said on Tuesday. The pipeline, which transports crude oil south to the …

    Source: Times LIVE - Indeterminate
  • Published on May 7, 2025

    Policy group rejects IMF’s 3% growth forecast for Nigeria

    The Independent Media and Policy Initiative has questioned the rationale of the International Monetary Fund for downgrading its economic growth projection for Nigeria in 2025 from 3.2 per cent to 3.0 per cent on the back of the global oil slump. This, …

    Source: Punch - Indeterminate
  • Published on May 5, 2025

    Crude Oil Drops Below $60 as OPEC+ Moves to Increase Output

    Oil prices slid by more than 1% on Monday following a weekend decision by OPEC+ to accelerate production increases, heightening concerns about oversupply amid an already uncertain demand outlook. By 0946 GMT, Brent crude futures had fallen 87 cents (1.42%) …

    Source: News Central TV - Indeterminate
  • Published on May 6, 2025

    ExxonMobil confirms plan to invest $1.5bn in Nigeria’s deepwater oil fields

    ExxonMobil has confirmed plans to invest $1.5 billion in Nigeria’s deepwater exploration and development for the next two years, starting from the second quarter of 2025, the company announced late Tuesday. This financial commitment, which will be …

    Source: Business Day - Neutral
  • Published on May 6, 2025

    Nigeria worse off under Tinubu than in 1960 — AfDB President Adesina

    AfDB President Dr. Akinwumi Adesina has warned that Nigeria is economically worse off today, under President Bola Tinubu, than it was in 1960. In a statement issued following his keynote address at the 20th anniversary dinner of investment firm Chapel Hill …

    Source: NewsBreakNaija - Pending
  • Published on May 6, 2025

    Nigeria Faces Budget Blow as Global Oil Prices Dip Below $60: What It Means for the Economy

    As global oil prices plunge below $60 per barrel, Nigeria’s fiscal stability is under serious pressure, threatening the feasibility of the federal and state governments’ ambitious 2025 budgets.  With total spending plans estimated at over ₦75 trillion, the …

    Source: The News Chronicle - Neutral
  • Published on May 5, 2025

    BREAKING: Crude oil price falls below $60, stoking fears of weaker naira and wider deficits 

    Nigeria is staring down the barrel of twin macroeconomic shocks as Brent crude prices plunge below $60 per barrel. This development could destabilize the country’s fragile exchange rate regime and widen an already gaping fiscal deficit. The sharp drop in …

    Source: Nairametrics - Neutral
  • Published on 14:23 GMT

    Troops foil oil theft worth N1.93b, rescue 173 kidnap victims

    Troops of Operation DELTA SAFE, a military task force focused on curbing oil theft and securing the Niger Delta region, have intercepted stolen crude and dismantled illegal refining operations valued at over N1.93 billion in a weeklong crackdown, the …

    Source: The Guardian (Nigeria) - Indeterminate
  • Published on 16:34 GMT

    Foreign herders behind attacks on Benue, Plateau communities – DHQ

    The Defence Headquarters has attributed the recent spate of violent attacks on communities in Benue, Plateau, and other parts of the country to foreign herders who have infiltrated Nigeria through porous borders. Speaking at a press briefing in Abuja on …

    Source: Punch - Indeterminate
  • Published on 07:45 GMT

    After onshore divestment, ExxonMobil to invest $1.5bn in deepwater exploration

    ExxonMobil has disclosed plans to invest $1.5 billion in deepwater exploration and development. A statement by Nigerian Upstream Petroleum Regulatory Commission (NUPRC), said the significant financial commitment would be implemented between Q2, 2025 – 2027 …

    Source: Daily Trust - Pending
  • Published on 15:49 GMT

    Troops arrest notorious gunrunner, kill wanted IPOB leader in crackdown

    The Defence Headquarters (DHQ) has confirmed that Nigerian troops arrested a notorious gunrunner and kidnap kingpin, Buhari Umar, who had long been terrorising communities across Gombe, Bauchi, Plateau, and Kaduna States. The arrest was made as part of a …

    Source: Daily Post - Neutral
  • Published on 16:14 GMT

    Troops Recover N2b Stolen Crude In One Week

    Share The Defence Headquarters (DHQ) has announced that troops conducting anti-economic sabotage operations in the South-South region of Nigeria recovered stolen crude oil and illegally refined products worth N1.93 billion in the past week. According to …

    Source: New Telegraph - Pending

04 days 10:16:51

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