SweetCrude (Wednesday)
Nigeria's sub nationals share N141.4bn from 13% derivation in 10 months
Dublin, Ireland -- Oil and gas producing states in Nigeria received N141.395 billion in October 2025 under the 13 percent derivation fund, paid out from the country’s total earnings from the oil and gas sector, according to data obtained from the...
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Nigeria earns N12trn from gas exports in 9 months
Dublin, Ireland -- Nigeria earned N12.076 trillion from the export of natural gas and other gas products in nine months, between January and September 2025, according to recent data released by the National Bureau of Statistics, NBS. The NBS, in its...
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Nigeria poised for significant crude oil production surge by Q2 2026
Abuja – Nigeria’s oil production is on course for a substantial uplift in the second quarter of 2026, with analysts pointing to the concrete resumption of operations in the long-dormant Ogoni fields and a sustained focus on trunkline security as the...
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Lokpobiri says govt positioning oil production strategy to outperform budget assumptions
Port Harcourt -- Nigeria is positioning its oil production strategy to outperform budget assumptions with the aim of strengthening fiscal stability and revenue certainty ahead of 2026, the Minister of State for Petroleum Resources (Oil), Senator...
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Nigeria: Gas flaring worsens, as NOSDRA discontinues monitoring
DOil and gas companies operating in Nigeria flared 11.315 billion standard cubic feet, BSCF, of gas in September 2025, according to latest data released by the Nigerian National Petroleum Company Limited, NNPC, rising by 11.37 percent compared with...
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Nigeria’s oil earnings dip by 37% to N1.31trn
Dublin, Ireland -Nigeria earned N1.31 trillion from the petroleum industry in September 2025, dropping sharply by 36.62 percent, from N2.067 trillion recorded in August 2025, according to reports from the Federation Account Allocation Committee,...
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FG, subnationals share N2.094 trillion for the month of October
Lagos – Nigeria’s Federation Account Allocation Committee, FAAC, has, at its November 2025 meeting in Abuja, chaired by the Accountant General of the Federation, Shamsudeen B. Ogunjimi, shared a total sum of N2.094 trillion to the three tiers of...
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Nigeria to open 2025 Oil Licensing Round December 1
Port Harcourt -- The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has announced that the country’s 2025 Licensing Round will officially commence on December 1, 2025, marking a major push to unlock new investments into Nigeria’s upstream...
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Nigeria earns N2.067trn from oil, gas in one month
Dublin, Ireland -Nigeria’s revenue from the oil and gas industry grew by 10.89 percent to N2.067 trillion in August 2025, compared with N1.864 trillion recorded in July, according to the latest report by the Federation Account Allocation Committee,...
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Nigeria’s Q1 2025 oil earnings grew by 64% to N2.51trn – CBN Nigeria: Rig count soars 357% in one year
Dublin, Ireland — Nigeria earned N2.506 trillion from its oil and gas operations in the first quarter of 2025, rising by 63.68 percent compared with N1.531 trillion earned from the sector in the first quarter of 2024 This is according to latest data...
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FG, sub-nationals share N2.103 trillion in September
Lagos – The Federal Government received N711.314 billion, the States N727.170 billion and Local Government Councils N529.954 billion as the three tiers of government shared N2.103 trillion Federal Allocation for the month of September 2025. The...
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Nigeria’s rig count soars to 70 as NUPRC unlocks $18.2bn upstream investment
Port Harcourt — Nigeria’s upstream oil and gas industry is witnessing a strong revival as rig activity has surged from just eight in 2021 to 70 active rigs in 2025, following a wave of regulatory reforms and renewed investor confidence, according to...
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Revenue from solid minerals rises by 228% to N38bn in 8 months Nigeria opens first crude export terminal in 50 years
Dublin, Ireland -- Nigeria earned N38.233 billion from the solid minerals sectors in seven months, between January and July 2025, according to data released by the Ministry of Solid Minerals Development, MSMD. In its August 2025 report to the...
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Nigeria cuts crude oil losses by 90%, from $7m daily to $700,000
Lagos -- The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has revealed that crude oil losses in Nigeria have dropped by about 90 percent in the past four years, falling from an estimated $7 million per day in 2021 to about $700,000 daily...
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Nigeria records 100% pipeline availability for first time in 20 years
Port Harcourt -- Nigeria has achieved full pipeline availability for the first time in two decades, restoring confidence in the resilience of its oil and gas infrastructure, according to the Group Chief Executive Officer of NNPC Limited, Engr. Bashir...
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Nigeria: Gas flaring declining, achieves 7.38% reduction in July
Port Harcourt -- Nigeria’s gas sector has recorded a major breakthrough as the level of gas flaring is declining in its oil and gas operations. According to the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, the flaring level dropped from...
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Nigeria’s oil & gas sector records $0.12m foreign investment inflow
Dublin, Ireland -- Foreign capital inflow into the Nigerian oil and gas industry stood at $120,000 ($0.12 million) in the first quarter of 2025, unchanged from the same amount recorded in the fourth quarter of 2024, according to latest data released by...
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Port Harcourt officially crowned Nigeria’s Premier Energy City
Port Harcourt -- Port Harcourt has been formally declared Nigeria’s Premier Energy City by the Society of Energy Editors, SEE, in a ceremony held at the Government House. The event celebrated the city’s historic role in the national economy and set the...
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Nigeria approves N4trn electricity sector debt refinancing plan Nigeria’s oil & gas local content model takes centre stage in Namibia
Lagos -- Nigeria has approved a phased plan to refinance 4 trillion naira ($2.61 billion) in electricity sector debt to help stabilise the nation's ailing power industry and improve supply, Minister of Finance and the Coordinating Minister for the...
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Africa’s economy dangerously overexposed to fuel imports — ARDA
Dublin, Ireland – The African Refiners and Distributors Association, ARDA, has warned that Nigeria and the African continent, in general is dangerously overexposed to fuel imports, putting them at risk of shocks with farreaching consequences for the...
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60 days after, Port Harcourt Refinery inoperable despite $1.5bn revamp
Port Harcourt — Exactly 60 days have passed since the Nigerian National Petroleum Company Limited, NNPC Ltd, abruptly shut down the Port Harcourt refinery, barely six months after it was announced to have resumed operations on November 26, 2024,...
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Nigeria’s gas output rose by 4.08% to 186BSCF in May
Dublin, Ireland -Nigeria’s total gas output for the month of May 2025 grew by 4.08 percent to 186.302 billion standard cubic feet, BSCF, compared with 179 BSCF, produced in April 2025, data from the Nigerian National Petroleum Corporation Limited,...
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Oil firms in Nigeria burn N838.5bn gas in five months
Dublin, Ireland — Oil and gas companies operating in Nigeria flared 154.1 billion standard cubic feet, BSCF, of gas in five months, between January and May 2025, causing the country a loss of $539.2 million (an equivalent of N838.456 billion). This is...
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Nigeria earns N3.88trn from export of natural gas, LPG, others
Dublin, Ireland -- Nigeria earned N3.879 trillion from the export of natural gas, Liquefied Petroleum Gas, LPG, and other gas products, in the first quarter of 2025, rising by 108.31 percent from N1.862 trillion earned from the export of the same...
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Nigeria’s oil output to hover between 1.4 and 1.6mbd in Q3 – Energy Editors
Lagos — Nigeria’s crude oil production would be in the range of 1.4– 1.6 million barrels per day, mbd, in the third quarter, Q3, of this year - July to September 2025. This is according to the Nigeria Energy Sector Outlook: Q3 2025 by the Society of...
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Shell, Chevron pledge fresh multi-billion-dollar investments in Nigeria
Port Harcourt -- In a renewed vote of confidence in Nigeria’s energy sector, international oil giants Shell and Chevron, have pledged fresh multi-billion-dollar investments in the sector, following meetings with Nigeria’s Minister of State for...
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Nigeria loses N710bn to gas flaring in four months
Dublin, Ireland — Nigeria lost $443.8 million, about N710.08 billion, to gas flaring in four months, as oil and gas companies operating in the country flared 126.8 billion standard cubic feet, SCF, of gas between January and April 2025, latest flare...
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Nigeria earns N813bn from oil & gas in one month
Dublin, Ireland -- Nigeria earned N813.22 billion from the petroleum industry in February this yera, rising by 33.57 percent when compared with the N608.85 billion earning from the sector in January 2025, according to latest data by the Central Bank of...
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Nigeria targets 12Bscf gas output, eyes top 10 global ranking by 2030
Port Harcourt — The Nigerian government has issued a directive to major gas producers in the country to ramp up daily gas output by at least one billion standard cubic feet, bscf, annually from 2025 to 2030, as part of an aggressive strategy to hit a...
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Jonathan, Attah, Renaissance, others honoured at Champions of Nigerian Content Awards
Port Harcourt -- Former President Goodluck Ebele Jonathan and Renaissance Africa Energy’s Managing Director, Mr. Tony Attah, led a distinguished list of award recipients at the maiden Champions of Nigerian Content Awards, held at the Nigerian Content...
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Inaugural Champions of Nigerian Content Awards holds in Yenagoa today
Lagos — The inaugural Champions of Nigerian Content Awards, being organised by the Nigerian Content Development and Monitoring Board, NCDMB, in partnership with Sweetcrude Limited, holds today (Wednesday) in Yenagoa, the Bayelsa State capital. The...
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Nigeria’s oil earnings dip by 45% to N609bn in January
Oil rig ublin, Ireland -- A significant decline was in Nigeria’s earnings from the oil and gas sector in January 2025, dropping by 45.45 percent to N608.85 billion, from N1.116 trillion recorded in December 2024, according to the latest economic...
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Nigeria’s oil & gas earnings up 16% to N6.57trn in 2024 — CBN
Dublin, Ireland — Nigeria’s earnings from the oil and gas industry grew by 16.07 percent to N6.574 trillion in 2024, compared with N5.664 trillion earned from the sector in 2023, according to latest data released by the Central Bank of Nigeria,...
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Gas flaring from offshore operations costs Nigeria N118bn in 2 months – NOSDRA
Lagos -- The National Oil Spill Detection and Remediation Agency, NOSDRA, says gas flaring from offshore oil and gas operations led Nigeria to a loss of $78.2 million (about N118.864 billion) in January and February this year as oil and gas companies...
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Nigeria’s gas output dips by 17% to 150.734BSCF
Dublin, Ireland — Nigeria’s gas output dipped by 17.04 percent to 150.734 billion standard cubic feet, SCF, in February 2025, from 181.69 billion SCF, BSCF, of gas recorded in January, according to latest gas data released by the Nigerian National...
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Nigeria earns N7.68trn from gas exports in one year
Dublin, Ireland -- Nigeria earned N7.683 trillion from the export of natural gas, liquefied petroleum gas and other gas products in 2024, rising by 105.1 percent compared with N3.746 trillion earned from the sale of the commodities in 2023, according...
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NCDMB launches 'Champions of Nigerian Content Awards
'Lagos -- The Nigerian Content Development Monitoring Board, NCDMB, in partnership with Sweetcrude Limited, publishers of SweetcrudeReports, has announced the launch of the 'Champions of Nigerian Content Awards'. A statement released by the Board...
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Nigeria’s gas output rises by 8.9% to 182BSCF in one month
Dublin, Ireland -- Nigeria’s gas output appreciated by 8.91 percent to 181.691 billion standard cubic feet, BSCF, in January 2025, compared with 166.822 BSCF recorded in December 2024, latest data released by the Nigerian National Petroleum, Company...
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Nigeria targets eight deep seaport projects to boost maritime economy
Port Harcourt -- The Federal Government has unveiled plans to build eight new deep seaports across the country as part of strategy to position Nigeria as a leading maritime hub in Africa. The proposed deep seaports will be located in Badagry, Ilaje,...
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Nigeria eyes premier maritime status, sets sights on IMO Council seat
Port Harcourt -- The Federal Government has intensified efforts to position Nigeria as a leading maritime nation, with strategic reforms in port modernisation, aquaculture expansion, and international trade facilitation. Speaking at an interactive...
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Nigeria loses N1.7trn to gas flaring in 2024
Dublin, Ireland -- Despite biting economic hardship and shortages in gas supply to critical industries and household, Nigeria lost $1.1 billion, an equivalent of N1.696 trillion, to gas flaring in 2024, as oil and gas companies operating in the country...
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Petroleum Ministry allocates N43bn for personnel expenses in 2025
Dublin, Ireland — The Federal Ministry of Petroleum Resources and agencies under its purview will spend 89.02 per cent of the budgetary allocation for the 2025 fiscal year on personnel expenses; 7.13 per cent will be spent on overheads, while 3.86 per...
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Stakeholders tackle govt’s move to resume oil production in Ogoniland
Lagos -- Nigerian environmentalists are condemning the move by the Federal Government to resume oil exploration and production in the restive Ogoniland, demanding a halt until meaningful talks with local communities are completed. Stakeholders in...
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Stakeholders demand action as oil spill, fire devastate community
Port Harcourt — Community leaders and rights groups are demanding action from the Federal Government, Nigerian National Petroleum Company Limited, NNPC, and other relevant agencies over the catastrophic oil spill and fire from a wellhead operated by...
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Tinubu commits to Anambra Basin oil & gas development
Port Harcourt -- President Bola Tinubu has made a commitment that his administration will support the development of the Anambra oil Basin holding a significant energy reserve estimated at 1 billion barrels of crude oil and 30 billion cubic feet of...
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Oil firms burn N1.5trn gas in 11 months
Dublin, Ireland -- Nigeria lost $917.3 million (about N1.459 trillion) to gas flaring in eleven months, as oil and gas companies operating in the country’s offshore and onshore oil fields flared 262.1 billion standard cubic feet of gas, SCF, between...
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TechnipFMC awarded substantial subsea contract for Shell’s Bonga North
Lagos -- TechnipFMC has been awarded a substantial contract by Shell Nigeria Exploration and Production Company Limited, SNEPCo, to supply Subsea 2.0® production systems for the Bonga North development in Nigeria. The contract covers the design and...
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Nigeria’s oil output to increase by 30,000bpd with launch of $315m FPSO
Port Harcourt — Nigeria’s crude oil production is set to increase by 30,000 barrels per day, bpd, following the launch of a $315 million Floating Production, Storage, and Offloading, FPSO, vessel by Oriental Energy Resources Limited. The vessel, named...
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Nigeria: Oil & gas sector gets zero investment in Q3 2024
Port Harcourt -- Nigeria's oil and gas sector received no recorded inflows in the third quarter, Q3, 2024, as the country experienced a 51.90 percent decline in overall capital importation from $2.6 billion in Q2 2024 to $1.25 billion in the quarter...
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Nigeria: Gas output grows by 7.62% in October
DNigeria’sublin, Ireland -gas output rose by 7.62 percent to 166.892 billion standard cubic feet, SCF, in October 2024, compared with 155.079 billion SCF, BSCF, of gas in September 2024, according to data released by the Nigerian National Petroleum...
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Oando's recurring oil spills devastate environment in Bayelsa
Port Harcourt -- Ogboinbiri community in Bayelsa State is in crisis as recurring oil spills from Oando Plc’s Ogboinbiri/Tebidaba pipeline in Southern Ijaw Local Government Area of the state continue to wreak havoc on the environment and the livelihoods...
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FAAC disburses N1.4trn to federal, subnational govts in October
Port Harcourt -- The Federation Account Allocation Committee, FAAC, shared a total sum of N1.411 trillion to the three tiers of government as Federation Allocation for the month of October, 2024 from a gross total of N2.668 trillion. The Federal...
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Nigeria’s oil production to hit 2mbd before year-end, says NUPRC
Lagos –- Nigeria’s crude oil output will reach 2 million barrels per day, bpd, before the end of this year from 1.54 bpd in September, according to the Nigerian Upstream Petroleum Regulatory Commission, NUPRC. The Nigerian National Petroleum Company...
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Nigeria commits $69.1 million to Africa Energy Bank
Port Harcourt -- Nigeria has reaffirmed its commitment to hosting the Africa Energy Bank, AEB, by contributing $69.1 million in equity funding for the take-off of the bank, the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri,...
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Fresh oil spill from Shell facility rocks Ogoni community
Port Harcourt -- An oil spill from a pipeline operated by the Shell Petroleum Development Company of Nigeria Limited, SPDC, has again rocked Ebubu community in Eleme, an Ogoni area in Rivers State. The spill, on since Monday, October 21, according to...
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Communities tackle NLNG, Shell over environmental degradation
Port Harcourt – Two communities in Bonny Local Government Area of Rivers State - Park Akatikpo and Iloma – have accused two oil and gas companies - Nigeria LNG Limited, NLNG, and the Shell Petroleum Development Company, SPDC – of degrading their...
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90% of NNPC’s export revenue from Panama, others
Dublin, Ireland -Despite accusations and concerns of opacity in its operations and finances, the Nigerian National Petroleum Company Limited, NNPC, has shown no interest in allaying these concerns, as 96.81 percent of its export earnings were from...
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Nigeria plans joint regional gas pipeline with Libya
Port Harcourt – Nigeria’s Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has hinted of Nigeria's plans to strengthen energy cooperation with Libya through a potential gas pipeline deal. This follows a strategic meeting...
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$550m Ubeta upstream gas project takes off
Port Harcourt -- The $550 million upstream gas project between the NNPC Ltd. and TotalEnergies on the development of the Ubeta field has taken off. Special Adviser to the President on Energy, Olu Verheijen, disclosed this during an inaugural...
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Nigeria earns N1.53trn from oil, gas in three months
Dublin Ireland -- Nigeria earned N1.531 trillion from oil and gas in the first quarter of 2024, rising by 39.56 percent compared with oil and gas earnings of N1.097 trillion recorded in the fourth quarter of 2023, according to data by the Central Bank...
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