Galp Unveils Significant Light Oil Discovery Offshore Namibia Portuguese oil and gas company, Galp, has declared a significant breakthrough with the discovery of light oil at the Mopane-1X well offshore Namibia. This development marks the sixth oil and gas discovery in Namibia since 2022, enhancing the country’s status as a frontier market in the energy…
Seven Prominent Marketers Approved to Sell Dangote Fuel Seven notable oil marketers in Nigeria have registered with the Dangote Petroleum Refinery to handle the lifting and distribution of refined petroleum products from the $20 billion facility. Dealers, operating under the Major Oil Marketers Association of Nigeria (MOMAN), stated on Sunday that upon completion of the…
Otedola’s Geregu Power Plc Crosses N1 Trillion Market Capitalization For the first time, Geregu Power Plc has crossed the N1 trillion market capitalization level, joining the SWOOT group. At the close of trading on January 15, 2024, the only power company listed on the NGX appreciated 7.52% to close at a share price of N429,…
NNPC seeks O&M Company to Operate, Maintain Port Harcourt Refinery The Nigerian National Petroleum Company (NNPC) Limited is seeking to engage an Operations & Maintenance (O&M) company to operate and maintain the Port Harcourt Refining Company (PHRC). This, the national oil firm said, is to ensure reliability and sustainability towards meeting the nation’s fuel supply…
SAIPEC 2024
Programme Unveiled for Eighth SAIPEC 2024 The eighth edition of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) returns to the Eko Convention Center in Lagos from 13-15 February 2024. This premier industry event, is hosted by PETAN in strategic partnership with the Nigerian Content Development & Monitoring Board (NCDMB), Nigerian Upstream Petroleum Regulatory…
MOSOP Advocates Oil Resumption in Ogoniland to Propel Economic Development Movement for the Survival of Ogoni People Cites Unemployment and Infrastructure Gaps as Catalysts for Decision The Movement for the Survival of Ogoni People (MOSOP) has expressed its willingness to allow the resumption of oil exploration in Ogoniland, citing extreme unemployment and a lack of…
Afreximbank Disburses $2.25 Billion to NNPC in Historic Crude Oil Prepayment Deal – Boosting Nigeria’s Economic Stability In a significant financial development, the African Export-Import Bank (Afreximbank), Africa’s leading multilateral trade finance institution, has officially disbursed an initial sum of $2.25 billion to the Nigerian National Petroleum Company Limited (NNPC). This follows NNPC’s announcement in…
Red Sea attacks: US, UK launch strikes against Houthis The United States and United Kingdom have launched strikes against Houthi targets in Yemen to disrupt and degrade the capabilities of rebels to attack shipping in the Red Sea and protect global trade. The US and UK, with support from Australia, Bahrain, Canada, and the Netherlands,…
Dangote Refinery Begins Production Dangote Refinery has started production. The largest single-train refinery in the world located in Nigeria’s commercial hub began operations in the early hours of Friday. This followed the delivery of six million barrels of crude supply to the refinery this week. It had earlier also received other batches. Although it was…
