Oil Prices Remain Nearly Flat as Market Evaluates Chinese Demand and North America Supply Increase Oil prices were little changed on Thursday as markets weighed new economic data from China against increasing supply from the Western Hemisphere. Brent crude futures settled flat at $82.96 a barrel. U.S. West Texas Intermediate crude futures ended 20 cents…
Tinubu signs Executive Orders to Offer Incentives for Oil, Gas Projects President Bola Tinubu has taken decisive steps to enhance Nigeria’s investment climate and position the country as the premier destination for oil and gas investments in Africa. According to Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, these directives stem…
NPA Unveils $1 Billion Reconstruction Plan for Tincan Island, Apapa, Rivers, Onne, Warri, and Calabar Port Complexes The Nigerian Ports Authority (NPA) also allocated funds for similar reconstruction as part of the new port development plan for the Badagry deep seaport, Snake Island, Burutu, and Ondo deep seaports. The plans were disclosed on Wednesday, in…
TotalEnergies and QatarEnergy Enter Joint Venture for South African Oil Exploration Block TotalEnergies and its partner QatarEnergy have bolstered their positions in the South African sector of the Orange Basin by farming into offshore Block 3B/4B, the two companies announced on March 6. Situated 200 km off the western coast of South Africa and adjacent…
NLNG Launches Awareness Campaign to Promote LPG Usage and Reduce Health Risks In a concerted effort to drive widespread adoption of cleaner cooking practices, Nigeria LNG Limited (NLNG) has unveiled a comprehensive awareness campaign aimed at promoting the use of Liquefied Petroleum Gas (LPG) across the country, with a particular focus on rural communities. The…
Shell faces calls to safely decommission old assets before Nigeria exit Shell is facing mounting pressure to ensure the safe decommissioning of its aging infrastructure or bear the costs of removal from Nigeria’s Niger Delta region before its anticipated exit. This comes as a report by the Centre for Research on Multinational Corporations (SOMO) highlights…
Transcorp Power Reveals 18% of Income from West African Countries, Lists 7.5 Billion Shares on NGX Transcorp Power, a prominent gas-fired power generation firm in Nigeria, has taken a significant stride by listing its shares on the Nigerian Exchange (NGX), thereby opening up ownership to the public. This move has sparked considerable investor interest, propelling…
Pecan Energies Undergoes Rebranding, Commits to Unlock Prosperity for Africa Pecan Energies, formerly known as Aker Energy, has completed its rebranding, marking the beginning of a new era dedicated to fostering prosperity and enabling growth for African communities. Here are the key highlights of the rebranding: New Identity: The company has adopted a fresh name,…
NLNG Issues Clarification on LPG Supply to Domestic Market Nigeria LNG Limited (NLNG), a major player in the liquefied petroleum gas (LPG) industry, has released a statement to address misconceptions surrounding its LPG production and distribution operations. The clarification aims to provide accurate information to stakeholders and the public regarding NLNG’s role in the domestic…
The Role of Gas in Advancing Africa’s Industrialization – NLNG’s Perspective Nigeria LNG Limited (NLNG) has emphasized the crucial role of clean energy, particularly gas, in propelling Africa’s industrialization forward. With a youthful population, abundant natural resources, and emerging internal markets, the continent stands on the brink of significant growth, provided it can harness the…
