FG, Navy Set Sights on 3 Million bpd Oil Production by 2025 – Lokpobiri The Federal Government is intensifying efforts to boost Nigeria’s crude oil production to 3 million barrels per day (bpd) by 2025, in collaboration with the Nigerian Navy. Nigeria currently produces approximately 1.8 million bpd, a notable improvement from the 1.4 million…
Tinubu Applauds Shell, Partners on $5 Billion Bonga North Investment President Bola Ahmed Tinubu has hailed the Final Investment Decision (FID) by Shell and its partners for the $5 billion Bonga North Deep Offshore Field, marking Nigeria’s first deepwater oil development in over a decade. Announced in a statement by the President’s Adviser on Information…
NMDPRA Debunks Reports of Gas Supply Directive to GenCos The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has refuted claims made in a recent news publication alleging that it issued directives to halt gas supply to power-generating companies (GenCos) due to payment failures. In a statement, the NMDPRA categorically dismissed the report as false…
Nigeria’s Infrastructure Deficit Projected to Reach $878 Billion by 2050, Report Warns A new report by Agusto & Co. has projected that Nigeria’s infrastructure deficit could skyrocket to an alarming $878 billion by 2050, underscoring the urgent need for transformative action in the sector. The 2024 Infrastructure Industry Report highlights the immense challenges posed by…
CISLAC Applauds Supreme Court’s Ruling on Anti-Corruption Agencies The Civil Society Legislative Advocacy Centre (CISLAC) has praised the Supreme Court of Nigeria for its landmark ruling affirming the legality and prosecutorial powers of the country’s key anti-corruption agencies. In a unanimous decision on Friday, a seven-member panel led by Justice Uwani Abba-Aji dismissed a suit…
Awards for Shell, staff at NAPE 2024 conference, as SNEPCo MD pledges sustained efforts towards energy security Shell companies in Nigeria and staff won awards in recognition of their robust participation at the 42nd Annual International Conference and Exhibition of the National Association of Petroleum Explorationists (NAPE) which ended in Lagos last night. This was as…
NCDMB Proposes Annual FID Week to Boost Oil and Gas Production As part of the strategies to increase Nigeria’s crude oil production and enhance revenue accruing to the national treasury, the Nigerian Content Development and Monitoring Board (NCDMB) has advocated for a week in each year to be dedicated to signing final investment decisions (FIDs)…
Ending Petrol Importation: Nigeria’s Path to Energy Independence and Economic Stability By Ikenna Omeje For years, petrol importation has been a heavy burden for Nigeria, costing the nation trillions annually. On his first day in office, President Bola Tinubu announced the removal of petrol subsidies on May 29, 2023, a move that quickly led to…
NCDMB to Launch New Contracting Cycle Guidelines for Oil & Gas Sector in Line with Presidential Directives The Nigerian Content Development and Monitoring Board (NCDMB) is set to introduce new Contracting Cycle Guidelines for the oil and gas industry, adhering to President Bola Ahmed Tinubu’s directives aimed at expediting contract timelines, boosting sector investments, and…
Nigeria Secures Major Gas Offtake Agreement with Jindal Group for Steel Plant Development In a groundbreaking move, Nigeria has secured a commitment from the Jindal Group to offtake 450 million metric standard cubic feet per day (MMscfd) of natural gas to support a $4 billion investment in a steel plant. The project, announced by Minister…
