Author: Daniel Terungwa

Petroleum Ministry and Stakeholders Reaffirm Commitment to PPP Policy for Infrastructure and Economic Growth The Ministry of Petroleum Resources, in collaboration with key stakeholders in the oil and gas sector, has reiterated its dedication to advancing Nigeria’s Public-Private Partnership (PPP) framework as a sustainable strategy for economic growth and infrastructure development. During a stakeholders’ workshop…

NNPC Unveils Utapate Crude Grade, Targets 80,000 bpd by 2025 In a strategic move to bolster Nigeria’s oil production and revenue, the Nigerian National Petroleum Company Limited (NNPC) has officially unveiled its latest crude oil grade, the Utapate blend, to the international market. The announcement was made during the Argus European Crude Conference in London,…

Former NOGASA Chairman Sentenced to 21 Years for ₦43.5 Million Fraud Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja on Monday sentenced Fatuyi Philips, the former Chairman of the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), to 21 years imprisonment for defrauding his victims of ₦43.5 million. Philips was…

European Oil Giants Retreat from Renewables Amid Challenges European oil companies, including BP, Shell, and Equinor, are scaling back ambitious plans to pivot toward renewable energy, citing economic pressures and shifting market dynamics. The retreat marks a notable reversal from earlier commitments to transition away from fossil fuels toward low-carbon alternatives. BP’s Strategic Shift Nearly…

ERAN Raises Alarm Over Nigeria’s ₦3 Trillion Fuel Imports in 40 Days The Energy Reforms Advocates of Nigeria (ERAN) has expressed grave concerns over the importation of fuel worth over ₦3 trillion between October 1 and November 11, 2024, highlighting the detrimental impact on Nigeria’s energy sector. According to ERAN, oil marketers imported 1.5 million…

Oil Prices Dip Amid Weak Chinese Demand and U.S. Economic Developments Oil prices declined on Monday as concerns over demand in China, the world’s largest crude importer, outweighed supportive factors such as U.S. economic optimism, OPEC+ supply cuts, and geopolitical tensions in the Middle East. Brent crude futures fell by 18 cents (0.2%) to close…

Bold Leadership and Inclusivity Vital for Africa’s Energy Future – Olu Verheijen Mrs. Olu Verheijen, Nigeria’s Special Adviser on Energy to President Bola Ahmed Tinubu, has emphasized the need for transformative leadership and inclusive practices to shape Africa’s energy future. Speaking at the African Energy Week in Cape Town, she highlighted the urgent need to…