Oil Prices Drop as Investor Confidence Weakens Over China’s Economic Woes Oil prices fell sharply on Monday, erasing last week’s gains as concerns about China’s economic outlook persisted and geopolitical tensions loomed over the market. Despite China’s recent stimulus measures, investors remained skeptical, while fears of potential Israeli attacks on Iran’s oil infrastructure kept markets…
Dangote Refinery and Petroleum Marketers to Finalize Petrol Pricing The Independent Petroleum Marketers Association of Nigeria (IPMAN) is preparing for discussions with Dangote Petroleum Refinery to finalize agreements on the pricing and distribution of petrol. The meetings are scheduled for Tuesday and Wednesday, aiming to solidify terms for the lifting of petrol from the $20…
Nigerians Struggle as Cooking Gas Prices Soar to N1,500 per Kilogram As the cost of essential fuels continues to climb, Nigerians are now facing a steep rise in the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, which has reached up to N1,500 per kilogram in certain areas, according to a Punch…
Nigeria Faces $5.7 Million Electricity Debt from International Customers The Nigerian Electricity Regulatory Commission (NERC) has disclosed that international electricity customers in Benin Republic and Togo owe Nigeria $5.79 million for energy consumed during the second quarter of 2024. This was revealed in NERC’s latest Q2 2024 report, highlighting payment shortfalls among Nigeria’s international energy…
Nigeria Customs Boosts Q3 2024 Exports to $937 Million The Nigeria Customs Service (NCS), Lilypond Export Command, has announced a significant increase in export activities for the third quarter of 2024, with a total export value of $937,357,129.90. This figure marks a remarkable 407.05% rise compared to the $184,880,029.35 recorded in Q2 2024. Comptroller Ajibola…
ESG and Regulatory Frameworks Drive Energy Investments in Africa – Seplat CFO Environmental, Social, and Governance (ESG) standards, along with regulatory frameworks in African countries, play a pivotal role in shaping the landscape of oil and gas investments across the continent. These frameworks influence project costs, compliance requirements, and risk profiles, guiding companies in their…
Prof. Ibrahim Gambari to Deliver Keynote at Realnews 12th Anniversary Lecture Realnews Magazine and Publications Limited, the publisher of Realnews Magazine Online, has announced that Prof. Ibrahim Agboola Gambari, former Chief of Staff to President Muhammadu Buhari and Nigeria’s ex-Permanent Representative to the United Nations, will deliver the keynote address at its 12th Anniversary Lecture….
Dangote Advocates for Nigeria as Africa’s Refining Hub, Aims to Save $17 Billion in Imports Nigeria has the potential to become a leading refining hub and save Africa $17 billion annually in petroleum imports, according to Aliko Dangote, Chairman of Dangote Refinery and Petrochemicals. Speaking at the Crude Oil Refinery Owners Association of Nigeria (CORAN)…
NNPC Raises Petrol Prices Amid Market Deregulation The Nigerian National Petroleum Company Limited (NNPCL) has announced a significant increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. In Abuja, the price has surged from N897 to N1,030 per liter, while in Lagos, it has risen from N868 to N998 per…
Seplat CEO: Africa’s Vast Gas Reserves Key to Addressing Immediate Challenges Africa’s abundant gas reserves offer a vital opportunity to tackle the continent’s pressing energy challenges, according to Mr. Roger Brown, CEO of Seplat Energy Plc. Speaking at the Africa Oil Week (AOW) Conference and Exhibition in Cape Town, South Africa, Brown emphasized the role…
