NNPC Fights Oil Theft, Seeks Help from Anti-Corruption Agency

NNPC Fights Oil Theft, Seeks Help from Anti-Corruption Agency

NNPC Fights Oil Theft, Seeks Help from Anti-Corruption Agency Nigeria’s national oil company, NNPC Ltd., is calling for help from the country’s anti-graft agency, the EFCC, to combat the widespread theft of crude oil. NNPC CEO, Mele Kyari, made the plea during a meeting with EFCC Chairman, Ola Olukoyede. Kyari described oil theft as a

Oil Rises on Signs of Strong Demand and Rate Cut Hopes

Oil Rises on Signs of Strong Demand and Rate Cut Hopes

Oil Rises on Signs of Strong Demand and Rate Cut Hopes Oil prices climbed on Wednesday, driven by indications of robust global demand, particularly from major consumer the United States. Additionally, optimism surrounding potential rate cuts by the Federal Reserve further boosted market sentiment, despite lingering concerns about inflation in the U.S. Evidence of strong

Digitalisation in the Nigerian Energy Sector: NLNG's Perspective

Digitalisation in the Nigerian Energy Sector: NLNG’s Perspective

Digitalisation in the Nigerian Energy Sector: NLNG’s Perspective Since the dawn of the century, digital technology has continued to  make enroute into key sectors of the global economy as efficiency and effectiveness drive growths. The energy sector which is the mainstay of the Nigeria’s economy, particularly the oil and gas industry, is not left out

Nigeria takes Steps to Attract Investments into its Oil&Gas Sector

Nigeria takes Steps to Attract Investments into its Oil&Gas Sector

Nigeria takes Steps to Attract Investments into its Oil&Gas Sector Africa’s largest oil and gas producer, Nigeria, has taken major steps towards making itself a destination for investments in the continent’s energy sector through executive orders on industry reforms. Despite having about 37 billion barrels of proven crude oil reserves and about 209 trillion cubic

Local Content: Matrix Energy Minimizes Carbon Footprint for Sustainable Upstream Operations - Dr. Bukola Olusola

Local Content: Matrix Energy Minimizes Carbon Footprint for Sustainable Upstream Operations – Dr. Bukola Olusola

Local Content: Matrix Energy Minimizes Carbon Footprint for Sustainable Upstream Operations – Dr. Bukola Olusola During a panel session titled “African Content and Opportunities” at the Nigeria International Energy Summit (NIES), Dr. Bukola Olusola, Managing Director of Matrix Energy Exploration and Production Company Limited, emphasized the crucial role of host communities in the operations of

Uganda Expecting First Oil in 2025

Uganda Expecting First Oil in 2025

Uganda Expecting First Oil in 2025 The National Content Specialist for Uganda National Oil Company (UNOC), Jessica Kyeyune, has said the country is expecting first oil in 2025. Kyeyune, disclosed this in an exclusive interview with Majorwaves on the sidelines of the 8th Sub-Saharan Africa International Petroleum Ex- hibition and Conference (SAIPEC), which held in

Cainergy Group appoints Ritchie Wingo as its New GCOO

Cainergy Group appoints Ritchie Wingo as its New GCOO

Cainergy Group appoints Ritchie Wingo as its New GCOO Cainery Group, an oil and gas service company, founded in Dubai, UAE and incorporated in Nigeria, has appointed Ritchie Wingo as its new Group Chief Operating Officer. Wingo will lead operations across all the company’s subsidiaries, including Cainergy International Limited, Subdrill, Cainergy Downstream, Cainergy Construction, and Data

TotalEnergies begins Production at Nigeria’s Akpo West Field

TotalEnergies begins Production at Nigeria’s Akpo West Field

TotalEnergies begins Production at Nigeria’s Akpo West Field TotalEnergies and its partners have begun production from the Nigeria’s Akpo West field on the Petroleum Mining Lease (PML) 2. This was disclosed by TotalEnergies in a statement obtained by Majorwaves. According to the company, Akpo West is tied back to the existing Akpo Floating Production Storage

Nigerian Oil Minister Heineken Lokpobiri Joins African Energy Week (AEW) 2024 as Reforms Strengthen the O&G Market

Nigeria’s Petroleum Minister Lokpobiri offers Clarity on Issues around OPL 245

Nigeria’s Petroleum Minister Lokpobiri offers Clarity on Issues around OPL 245 The Minister of State for Petroleum Resources (oil), Senator Heineken Lokpobiri, has offered clarity on Oil Prospecting Licence (OPL) 245. A key oil block, OPL 245, has been sub- ject to various litigations across different jurisdictions. It is estimated that the block holds over

IPPG Strongly Endorses President Tinubu's Executive Orders Regarding the Nigerian Oil and Gas Industry 

IPPG Strongly Endorses President Tinubu’s Executive Orders Regarding the Nigerian Oil and Gas Industry 

IPPG Strongly Endorses President Tinubu’s Executive Orders Regarding the Nigerian Oil and Gas Industry The Independent Petroleum Producers Group (IPPG) wholeheartedly endorses the recent Executive Orders signed by President Bola Ahmed Tinubu GCFR, aimed at revitalizing investment in Nigeria’s oil and gas sector and positioning the nation as Africa’s premier investment destination within the energy

Aramco Increases Dividend by 30% to $98 Billion Despite Profit Decline

Aramco Increases Dividend by 30% to $98 Billion Despite Profit Decline

Aramco Increases Dividend by 30% to $98 Billion Despite Profit Decline Saudi Arabia’s state-owned oil giant Aramco (2222.SE) has announced a significant increase in dividends, reaching $97.8 billion for the year, up 30% from the previous year, even as its net profit declined by 24.7% to $121.3 billion in 2023. The decrease in profit was

Shell Urged to Ensure Safe Decommissioning of Assets Before Nigeria Exit

Shell Urged to Ensure Safe Decommissioning of Assets Before Nigeria Exit

Shell Urged to Ensure Safe Decommissioning of Assets Before Nigeria Exit A recent report on the environmental impact of multinational companies has called on Shell (SHEL.L) to safely dismantle its old infrastructure or bear the cost of removal from the Niger Delta before exiting Nigeria’s oil and gas sector. Shell’s planned exit from Nigeria’s onshore

Shell Completes Supply of 475,000 Crude to Port Har- court Refinery

Shell Completes Supply of 475,000 Crude to Port Harcourt Refinery

Shell Completes Supply of 475,000 Crude to Port Harcourt Refinery The Shell Petroleum Development Company of Nigeria Limited (SPDC) has completed the supply of over 475,000 barrels of crude oil to the Port Harcourt Refining Company Limited (PHRC) from the Bonny Oil and Gas Terminal, a joint venture as set operated by SPDC. This energy

Oil prices steady as Middle Eastern supply concerns ease

Oil prices steady as Middle Eastern supply concerns ease

Oil prices steady as Middle Eastern supply concerns ease Oil prices were little changed on Monday as concern eased that fighting in the Middle East would disrupt supply and Chinese data suggested weak demand, while an increase in U.S. refining limited any selling. Brent futures for May delivery settled at $82.21 a barrel, gaining 13

SNEPCo MD, Elohor Aiboni wins Energy Personality Award

SNEPCo MD, Elohor Aiboni wins Energy Personality Award

SNEPCo MD, Elohor Aiboni wins Energy Personality Award Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Elohor Aboni has won the 2023 Energy Personality Award at the just-concluded 2024 edition of the Nigeria International Energy Summit in Abuja. Elohor recorded the highest number of online votes in that category from industry participants ahead of

MEMAN Advocates for Denominating Downstream Supply Chain in Local Currency

MEMAN Advocates for Denominating Downstream Supply Chain in Local Currency

MEMAN Advocates for Denominating Downstream Supply Chain in Local Currency The Major Energies Marketers Association of Nigeria (MEMAN) has called for the dedolarization of transactions within the petroleum products distribution and supply chain due to the increasing complexities posed by fluctuations in the foreign exchange market. Mr. Clement Isong, the Executive Secretary of MEMAN, conveyed

Heirs Energies Fuels Power Generation in Nigeria

Heirs Energies Fuels Power Generation in Nigeria

Heirs Energies Fuels Power Generation in Nigeria Key Points: Heirs Energies, a major Nigerian energy company, is supplying natural gas to the new 188-megawatt Geometric Power Plant in Aba. This adds to their existing portfolio, providing gas to TransAfam (966MW) and First Independent Power (541MW) plants, significantly impacting national power generation. Heirs Energies is committed

Tinubu Enacts Executive Order for Overhaul of Oil and Gas Sector

Tinubu Enacts Executive Order for Overhaul of Oil and Gas Sector

Tinubu Enacts Executive Order for Overhaul of Oil and Gas Sector President Bola Tinubu has taken decisive action to reform primary legislation, introducing fiscal incentives to stimulate oil and gas projects, streamline contracting processes, and bolster local content efficiency. This move aims to catalyze investment, reduce costs, and enhance Nigeria’s position as a premier destination

Seplat Energy Honored as Oil & Gas Company of the Year by Leadership Newspaper

Seplat Energy Honored as Oil & Gas Company of the Year by Leadership Newspaper

Seplat Energy Honored as Oil & Gas Company of the Year by Leadership Newspaper In a significant nod to its outstanding contributions to the Nigerian energy landscape, Seplat Energy Plc, a prominent independent energy firm with listings on the Nigerian Exchange Limited (NGX) and the London Stock Exchange (LSE), has been bestowed with the prestigious

Guyana Energy Conference: Oando's GCE Offers Strategic Roadmap for Oil and Gas Triumph

Guyana Energy Conference: Oando’s GCE Offers Strategic Roadmap for Oil and Gas Triumph

Guyana Energy Conference: Oando’s GCE Offers Strategic Roadmap for Oil and Gas Triumph At the 3rd Guyana Energy Conference and Supply Chain Expo, Mr. Adewale Tinubu, Group Chief Executive of Oando PLC, delivered an enlightening keynote address titled “The Winning Oil & Gas Industry Strategy.” He shared profound insights into navigating the intricacies of the

Dangote Refinery Plans to Launch Trading Division

Dangote Refinery Plans to Launch Trading Division

Dangote Refinery Plans to Launch Trading Division Aliko Dangote, Africa’s wealthiest individual, is gearing up to establish an oil trading arm, potentially headquartered in London, to oversee crude and product supply operations for his new refinery in Nigeria, according to six sources familiar with the matter. This strategic move aims to diminish the reliance on

NCDMB Host Oil Industry Players, Academia, on Research and Innovation Imperatives

NCDMB Host Oil Industry Players, Academia, on Research and Innovation Imperatives

NCDMB Host Oil Industry Players, Academia, on Research and Innovation Imperatives Oil and gas industry stakeholders and leading academics on Tuesday began a three-day Research and Development (R&D) Zonal Workshop at the Niger Delta University (NDU), Amassoma, with special focus on needs-driven research and deepening of collaboration and linkages, sponsored by the Nigerian Content Development

Eni announces a major discovery in block CI-205, offshore Côte d'Ivoire

Eni announces a major discovery in block CI-205, offshore Côte d’Ivoire

Eni announces a major discovery in block CI-205, offshore Côte d’Ivoire The President of Côte d’Ivoire, Alassane Ouattara, and Eni’s CEO, Claudio Descalzi, have jointly announced a significant discovery in block CI-205, offshore Côte d’Ivoire. Named Calao, this discovery marks the second largest in the country, following Eni’s Baleine field discovery in September 2021. The

Tinubu signs Executive Orders to Offer Incentives for Oil, Gas Projects

Tinubu signs executive orders to offer incentives for oil, gas projects

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

NLNG Launches Awareness Campaign to Promote LPG Usage and Reduce Health Risks

NLNG Launches Awareness Campaign to Promote LPG Usage and Reduce Health Risks

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 faces calls to safely decommission old assets before Nigeria exit

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

Pecan Energies Undergoes Rebranding, Commits to Unlock Prosperity for Africa

Pecan Energies Undergoes Rebranding, Commits to Unlock Prosperity for Africa

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,

Gbenga Komolafe, NUPRC Chief Executive

NUPRC’s Efforts towards Effective Implementation of PIA for Oil and Gas Reserve Growth – Komolafe

NUPRC’s Efforts towards Effective Implementation of PIA for Oil and Gas Reserve Growth – Komolafe Engr. Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), emphasized the importance of staying updated on developments and challenges within the oil and gas industry, particularly regarding regulatory frameworks and investment strategies. Speaking at the 7th

Joint operation dismantles oil theft operation in Ondo`

Joint operation dismantles oil theft operation in Ondo

Joint operation dismantles oil theft operation in Ondo Nigerian security forces collaborated to dismantle an illegal oil storage facility in Ondo state. Joint effort: Tantita Security Services Nigeria Limited (TSSNL) and the Nigeria Security and Civil Defence Corps (NSCDC) conducted the operation. Location: The operation took place in Awoye, Ilaje Local Government Area, near the Alowe seashore.

Nigerian Navy apprehends vessel suspected of crude oil theft

Nigerian Navy apprehends vessel suspected of crude oil theft

Nigerian Navy apprehends vessel suspected of crude oil theft In a recent operation, the Nigerian Navy intercepted a vessel named “Motor Tanker SWEET MIRI” suspected of illegal crude oil activities. The vessel, carrying a crew of 13 individuals (1 Ghanaian and 12 Nigerians), was apprehended on February 25, 2024, while sailing towards Benin Republic. Key

Gas is Nigeria’s logical transition fuel, says Seplat Energy

Seplat Energy- Gas is Nigeria’s logical transition fuel

Seplat Energy- Gas is Nigeria’s logical transition fuel Seplat Energy asserts that gas serves as Nigeria’s logical transition fuel, addressing immediate challenges while paving the way for long-term solutions. Effiong Okon, Director of New Energy at Seplat Energy, highlighted this perspective during the Gas Stakeholders Conversation at the 2024 Nigeria International Energy Summit in Abuja.

NLNG Issues Clarification on LPG Supply to Domestic Market

NLNG Issues Clarification on LPG Supply to Domestic Market

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

The Role of Gas in Advancing Africa’s Industrialization –  NLNG’s Perspective

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

NUPRC Unveils Regulatory Framework for Asset Divestment in Oil and Gas Sector

NUPRC Unveils Regulatory Framework for Asset Divestment in Oil and Gas Sector

NUPRC Unveils Regulatory Framework for Asset Divestment in Oil and Gas Sector The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has released the terms and conditions necessary for asset divestment, outlining the commission’s role and the due diligence processes that exiting International Oil Companies (IOCs) must adhere to for approval by the commission. As mandated by

FG targets 2.5 million barrels per day crude oil production

FG targets 2.5 million barrels per day crude oil production

FG targets 2.5 million barrels per day crude oil production Brent, the global benchmark for crude oil, has seen a notable price increase over the past three days, reaching over $84 per barrel on Friday. This surge follows weeks of trading at an average of $80 per barrel. The price hike coincides with Nigeria’s announcement

Seplat Energy Reports Strong 2023 Performance and Positive Outlook for 2024

Seplat Energy Reports Strong 2023 Performance and Positive Outlook for 2024

Seplat Energy Reports Strong 2023 Performance and Positive Outlook for 2024 Financial Highlights: Revenue increased 12% to $1.06 billion from $951.8 million in 2022. Gross profit rose 14.5% to N349.3 billion from N197.2 billion. Production averaged 47,758 boepd, up 8% from 2022, and within guidance. Year-end cash at bank strengthened to $450 million. Net debt

Seplat Energy Appoints Udoma Udo Udoma as Independent Non-Executive Chairman, Bello Rabiu as Senior Independent Non-Executive Director

Seplat Energy Appoints Udoma Udo Udoma as Independent Non-Executive Chairman, Bello Rabiu as Senior Independent Non-Executive Director

Seplat Energy Appoints Udoma Udo Udoma as Independent Non-Executive Chairman, Bello Rabiu as Senior Independent Non-Executive Director Seplat Energy, a prominent Nigerian energy firm listed on both the Nigerian Exchange Limited and the London Stock Exchange, has named Mr. Udoma Udo Udoma as its new Independent Non-Executive Chairman, succeeding Mr. Basil Omiyi, who will retire on March

NNPC Urges Collaborative "War Room" to Address Challenges of Independent Oil Producers

NNPC Urges Collaborative “War Room” to Address Challenges of Independent Oil Producers

NNPC Urges Collaborative “War Room” to Address Challenges of Independent Oil Producers  The Nigerian National Petroleum Company (NNPC) is calling for deeper collaboration among oil and gas companies, particularly independent producers, to tackle issues hindering the development of divested assets in the country. Mrs. Oritsemeyiwa Eyesan, NNPC’s Executive Vice President of Upstream, made this statement

TotalEnergies Clinches 'Upstream Company of the Year' Award at 2024 NIES, Reinforcing Commitment to Sustainability and Growth in Nigeria

TotalEnergies Clinches ‘Upstream Company of the Year’ Award at 2024 NIES, Reinforcing Commitment to Sustainability and Growth in Nigeria

TotalEnergies Clinches ‘Upstream Company of the Year’ Award at 2024 NIES, Reinforcing Commitment to Sustainability and Growth in Nigeria TotalEnergies, a multinational energy company, has been honored with the prestigious title of “Upstream Company of the Year (2023)” at the ongoing Nigeria International Energy Summit (NIES) in Abuja. This notable recognition was announced during the

Niger Delta Women Protest Shell's On-Shore Asset Sale, Demand Environmental Cleanup

Niger Delta Women Protest Shell’s On-Shore Asset Sale, Demand Environmental Cleanup

Niger Delta Women Protest Shell’s On-Shore Asset Sale, Demand Environmental Cleanup Women from the Niger Delta region staged a peaceful protest against Shell’s unilateral decision to sell its onshore assets, neglecting the communities that have borne the brunt of decades of environmental degradation due to their operations. Organized by the Kebetkache Women Development & Resource

Chevron Nigeria Clinches Sustainable Energy Business Award at NIES 2024

Chevron Nigeria Clinches Sustainable Energy Business Award at NIES 2024

Chevron Nigeria Clinches Sustainable Energy Business Award at NIES 2024 Abuja, Nigeria – Chevron Nigeria Limited (CNL), operator of the NNPC/CNL joint venture, secured the coveted “Sustainable Energy Business Award” at the 7th Nigeria International Energy Summit (NIES) on February 27, 2024. Presented by the Minister for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, the award

NNPC Ltd. and OPEC Forge Alliance to Bolster Investment and Production in Nigeria

NNPC Ltd. and OPEC Forge Alliance to Bolster Investment and Production in Nigeria

NNPC Ltd. and OPEC Forge Alliance to Bolster Investment and Production in Nigeria Abuja, Nigeria – In a move aimed at bolstering Nigeria’s oil and gas sector, the Nigerian National Petroleum Company Limited (NNPC Ltd.) and the Organization of the Petroleum Exporting Countries (OPEC) have pledged to collaborate on attracting investments and increasing the nation’s

Namibian Minister Seeks Collaboration with Nigeria on Oil and Gas Development

Namibian Minister Seeks Collaboration with Nigeria on Oil and Gas Development

Namibian Minister Seeks Collaboration with Nigeria on Oil and Gas Development: Key Points and Additional Details  A high-level meeting between Namibia and Nigeria took place on the sidelines of the Nigeria International Energy Summit in Abuja. Key Points: Namibian Delegation: Minister of Mines and Energy, Hon. Tom Alweendo, and Petroleum Commissioner, Mrs. Maggy Shino. Nigerian Counterpart: Minister

NNPC and OPEC commit to collaborating to draw in investments.

NNPC and OPEC commit to collaborating to draw in investments.

NNPC and OPEC commit to collaborating to draw in investments. The Nigerian National Petroleum Company Limited (NNPC Ltd) and the Organization of the Oil Exporting Countries (OPEC) have pledged to collaborate closely to fulfill the nation’s goals of attracting investments and enhancing production. This commitment was revealed by Olufemi Soneye, the chief corporate communications officer

OPEC Secretary General Hails Nigeria's Leadership at NIES 2024

OPEC Secretary General Hails Nigeria’s Leadership at NIES 2024

OPEC Secretary General Hails Nigeria’s Leadership at NIES 2024 The 7th edition of the Nigeria International Energy Summit (NIES) witnessed a significant address from the Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais. His speech focused on Nigeria’s crucial role in the organization and the energy sector at large.

Nigeria's President Tinubu Addresses Energy Challenges at NIES 2024

Nigeria’s President Tinubu Addresses Energy Challenges at NIES 2024

Nigeria’s President Tinubu Addresses Energy Challenges at NIES 2024 President Bola Tinubu of Nigeria delivered a keynote address at the 7th edition of the Nigeria International Energy Summit (NIES 2024), highlighting the crucial issues of energy security, the removal of petroleum subsidies, and the need for a just energy transition. Represented by the Minister of

Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas)

Gas Industry must tread the Right Path for Nigeria’s Economic Transformation- Ekpo

Gas Industry must tread the Right Path for Nigeria’s Economic Transformation- Ekpo In his Gas Industry Address, Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, speaking at the opening ceremony of the 7th edition of Nigeria International Energy Summit (N.I.E.S 2024), called it a pivotal event that brings together key stakeholders in the

Oil Prices Dip Despite Production Cut Hopes as Unexpected Inventory Build Emerges

Oil Prices Dip Despite Production Cut Hopes as Unexpected Inventory Build Emerges U.S. crude oil inventories unexpectedly surged, pushing oil prices lower despite anticipation of extended production cuts by OPEC+. The American Petroleum Institute (API) reported a significant rise of 8.428 million barrels for the week ending February 23, following a previous increase of 7.168

N.I.E.S 2024: A Crucial Platform for Energy Sector Recovery - Ogbeifun

N.I.E.S 2024: A Crucial Platform for Energy Sector Recovery – Ogbeifun

N.I.E.S 2024: A Crucial Platform for Energy Sector Recovery – Ogbeifun Ms. Iroghama Ogbeifun, the Managing Director/Chief Executive Officer of Starzs Investments Company Limited (SICL), has highlighted the importance of the forthcoming Nigeria International Energy Summit (N.I.E.S) 2024 as a crucial platform for strategizing the recovery of the Nigerian energy sector. Speaking to journalists in

Nigeria Secures 60% Share of Afreximbank's $30 Billion Oil and Gas Funding

Nigeria Secures 60% Share of Afreximbank’s $30 Billion Oil and Gas Funding

Nigeria Secures 60% Share of Afreximbank’s $30 Billion Oil and Gas Funding The African Export-Import Bank has disclosed that it has emerged as the primary financier of oil and gas projects across Africa.  The bank noted that it has invested $30 billion in industry projects, with Nigeria receiving 60% of this investment despite reduced global

Goldman Sachs Raises Brent Oil Summer Price Forecast to $87 per Barrel

Goldman Sachs Raises Brent Oil Summer Price Forecast to $87 per Barrel

Goldman Sachs Raises Brent Oil Summer Price Forecast to $87 per Barrel Oil prices are expected to rise this summer, according to Goldman Sachs, which has revised its forecast for Brent crude oil to $87 per barrel. This is $2 higher than their previous prediction and is due to faster-than-anticipated declines in oil inventories on

OPEC+ Expected to Extend Oil Production Cuts into Next Quarter

OPEC+ Expected to Extend Oil Production Cuts into Next Quarter

OPEC+ Expected to Extend Oil Production Cuts into Next Quarter OPEC+ is anticipated to prolong its current oil production cuts into the next quarter to prevent a surplus and bolster prices. Saudi Arabia and its partners are set to decide early next month whether to extend approximately 2 million barrels per day (MMbpd) of curbs

Petrol Importation Sees 3.29% Drop in 2023, NBS Reports

Petrol Importation Sees 3.29% Drop in 2023, NBS Reports

Petrol Importation Sees 3.29% Drop in 2023, NBS Reports The National Bureau of Statistics (NBS) has released its “First Half 2023 Petroleum Products Report,” revealing a 3.29% decrease in the importation of Premium Motor Spirit (PMS) compared to the same period in 2022. According to the report, the volume of PMS imported in the first

Shell deploys first unmanned vessel for pipeline route survey in Nigeria

Shell deploys first unmanned vessel for pipeline route survey in Nigeria

Shell deploys first unmanned vessel for pipeline route survey in Nigeria The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has deployed an Uncrewed Surface Vessel (USV) for a pipeline route survey in the Niger Delta. The USV innovation saves time and cost and reduces exposure to personnel and the environment. Last month, the remotely

Shell staff at the just concluded 8th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) where SNEPCo emerged the winner of the International Oil Company of the Year 2024 Award, which the organisers of the conference, Petroleum Technology Association of Nigeria (PETAN) handed out at the awards dinner.

Shell Expands Use of Nigerian Companies in Oil and Gas Operations

Shell Expands Use of Nigerian Companies in Oil and Gas Operations  Shell’s commitment to “Nigerian content” has resulted in increased involvement of indigenous companies in key oil and gas projects both onshore and offshore. Local contractors have successfully implemented innovative technologies like automated tank cleaning at the Bonny Terminal, while locally manufactured components like stud

How Batoil Has Enriched the Oil &Gas Sector through Local Content Delivery

How Batoil Has Enriched the Oil &Gas Sector through Local Content Delivery

How Batoil Has Enriched the Oil &Gas Sector through Local Content Delivery Committed to offering quality ser- vices delivery to Oil, Gas, Power and Infrastructure sectors of the economy within Nigeria and the African coun- tries at large, Batoil Services Nigeria Limited has been championing Local Content Delivery against all odds. From Hydrography to Offshore

NUPENG Joins Forces with EFCC to Tackle Oil Bunkering

NUPENG Joins Forces with EFCC to Tackle Oil Bunkering

NUPENG Joins Forces with EFCC to Tackle Oil Bunkering The National Union of Petroleum and Natural Gas Workers (NUPENG) has forged a partnership with the Economic and Financial Crimes Commission (EFCC) to combat the widespread issue of illegal oil bunkering in Nigeria. This collaboration represents a significant milestone in addressing a major economic drain and

Aradel CEO Adegbite Falade Honored with 2023 WIEN Gender Advocate Award

Aradel CEO Adegbite Falade Honored with 2023 WIEN Gender Advocate Award

Aradel CEO Adegbite Falade Honored with 2023 WIEN Gender Advocate Award Aradel Holdings Plc is celebrating the esteemed recognition of its Managing Director and CEO, Adegbite Falade, who has been honored with the prestigious 2023 WIEN Gender Advocate of the Year Award. Presented by the Women in Energy Network (WIEN), the award acknowledges Falade’s steadfast

Qatar Set to Unveil Significant Announcement in Oil and Gas Industry on Sunday

Qatar Set to Unveil Significant Announcement in Oil and Gas Industry on Sunday Excitement mounts within the oil and gas industry as QatarEnergy, the state-owned behemoth and one of the world’s largest LNG exporters, prepares for a “highly significant announcement” scheduled for Sunday. Anticipation among industry insiders suggests a considerable impact on the sector, with

ARDA to Seek Investments at Invest in African Energy Forum

ARDA to Seek Investments at Invest in African Energy Forum

ARDA to Seek Investments at Invest in African Energy Forum The African Refiners & Distributors Association (ARDA) is set to participate in the upcoming Invest in African Energy (IAE) forum, aiming to showcase investment opportunities within Africa’s downstream oil sector. Scheduled for May 14-15 in Paris, the event provides a vital platform for ARDA to

Cooking Gas Exports Halted in Nigeria

Cooking Gas Exports Halted in Nigeria

Cooking Gas Exports Halted in Nigeria – Government Aims to Curb Price Surge In a bid to tackle the scarcity and rising price of cooking gas (LPG) in Nigeria, the federal government has announced a ban on the export of the product. This decision, revealed by Minister of State, Petroleum Resources, Ekperikpe Ekpo, was made

Oil Prices Close Lower, Marking Weekly Decline Amid Dimming Hopes for US Rate Cut

Oil Prices Close Lower, Marking Weekly Decline Amid Dimming Hopes for US Rate Cut

Oil Prices Close Lower, Marking Weekly Decline Amid Dimming Hopes for US Rate Cut Oil prices experienced a significant decline of nearly 3% on Friday, resulting in a weekly decrease, following remarks from a U.S. central bank policymaker suggesting a delay in interest rate cuts by at least two months. Brent crude futures concluded the

US Greenlights Expansion of E15 Gasoline Sales Across Midwest from 2025

US Greenlights Expansion of E15 Gasoline Sales Across Midwest from 2025

US Greenlights Expansion of E15 Gasoline Sales Across Midwest from 2025 On Thursday, the U.S. government announced its approval of a request made by Midwestern governors to expand sales of gasoline containing higher blends of ethanol in their respective states, commencing in 2025. Currently, the sale of E15 gasoline, which contains 15% ethanol, is restricted

Africa's National Oil Companies

Africa’s National Oil Companies Convene at NIES 2024 to Advance Continent’s Energy Agenda

Africa’s National Oil Companies Convene at NIES 2024 to Advance Continent’s Energy Agenda The 7th Nigeria International Energy Summit (NIES 2024) is gearing up to host the National Oil Companies (NOCs) Forum, bringing together esteemed CEOs and key stakeholders from various African NOCs. This session, falling under the sub-theme “Sustainable Strategies for Energy Leadership: Navigating

NUPRC Clarifies Relocation

NUPRC Clarifies Relocation: More Details on Efficiency Gains and Stakeholder Benefits

NUPRC Clarifies Relocation: More Details on Efficiency Gains and Stakeholder Benefits The Nigerian Upstream Regulatory Commission (NUPRC) has recently been the subject of speculation regarding a potential move from Abuja to Lagos. However, the agency has clarified that this is not the case. The NUPRC, which plays a crucial role in the nation’s oil and

Nigeria's Active Oil Rigs Reach 30, Reports NUPRC

Nigeria’s Active Oil Rigs Reach 30, Reports NUPRC

Nigeria’s Active Oil Rigs Reach 30, Reports NUPRC Gbenga Komolafe, the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has revealed that Nigeria’s oil rig count has surged to 30 from 11 in 2011. He attributed this increase to the concerted efforts of NUPRC and other government stakeholders in instilling confidence and

Nigeria Highlights Gas Potential at Invest in African Energy Forum in May

Nigeria Highlights Gas Potential at Invest in African Energy Forum in May

Nigeria Highlights Gas Potential at Invest in African Energy Forum in May Nigeria will showcase its burgeoning gas sector at the forthcoming Invest in African Energy (IAE) Forum in Paris, where Minister Ekperikpe Ekpo will underscore investment prospects and outline ambitious production targets. Key Highlights: Nigeria aims to ramp up gas production to 5.5 billion

Fuel Price Surge in Rivers State Leads to Doubled Transport Fares

Fuel Price Surge in Rivers State Leads to Doubled Transport Fares

Fuel Price Surge in Rivers State Leads to Doubled Transport Fares Despite the suspension of the planned strike by the National Association of Road Transport Owners (NARTO), the pump price of Premium Motor Spirit (PMS) has continued to surge in Port Harcourt and its environs, reaching between N900 and N1,000 per litre. A survey conducted

Ardova's New LPG Facility Boosts Nigeria's Energy Future, Says Regulator

Ardova’s New LPG Facility Boosts Nigeria’s Energy Future, Says NMDPRA

Ardova’s New LPG Facility Boosts Nigeria’s Energy Future, Says NMDPRA Nigeria’s energy infrastructure received a significant boost with the upcoming launch of Ardova Plc’s upgraded Liquefied Petroleum Gas (LPG) facility in Ijora, Lagos. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) commended the development and highlighted its impact on gas supply and accessibility. Increased

MEMAN: No Conflict with Transport Unions

MEMAN:No Conflict with Transport Unions

MEMAN: No Conflict with Transport Unions, Focus on Fair Rates and Fuel Affordability The Major Energies Marketers Association of Nigeria (MEMAN) issued a statement today clarifying their position regarding the ongoing strike by transport unions NARTO and PTD. They emphasized: 1. No Conflict Exists: MEMAN denies any conflict with the transport unions, stating individual marketers

Women in Energy to lead conversations on breaking barriers at NIES 2024

Women in Energy to Lead Conversations on Breaking Barriers at NIES 2024

Women in Energy to Lead Conversations on Breaking Barriers at NIES 2024 The Nigeria International Energy Summit (NIES) is excited to announce the inclusion of the Women in Energy Roundtable as a central component of its highly anticipated 7th edition, scheduled to take place from February 26th to March 1st, 2024. The session, set for

Nigerian Oil and Gas Marketers Push Back Against 'Dollarisation' of NPA and NIMASA Charges Amid Rising Energy Costs

Nigerian Oil and Gas Marketers Push Back Against ‘Dollarisation’ of NPA and NIMASA Charges Amid Rising Energy Costs

Nigerian Oil and Gas Marketers Push Back Against ‘Dollarisation’ of NPA and NIMASA Charges Amid Rising Energy Costs The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) expressed concern on Tuesday over the ongoing “dollarization” of the Nigerian economy, particularly the imposition of charges by the Nigerian Ports Authority (NPA) and the Nigerian Maritime

Oil rises 1% on signs of tightening supplies

Oil rises 1% on signs of tightening supplies

Oil rises 1% on signs of tightening supplies Oil prices climbed by 1% on Wednesday amid escalating geopolitical tensions in the Middle East and evaluations of imminent supply constraints. U.S. West Texas Intermediate crude futures (WTI) surged by 87 cents, or 1.1%, settling at $77.91 per barrel, while Brent crude increased by 69 cents, or

Saudi Aramco likely to issue a bond in 2024 - CFO

Saudi Aramco likely to issue a bond in 2024 – CFO

Saudi Aramco likely to issue a bond in 2024 – CFO Saudi Aramco intends to issue a bond this year, with a focus on longer maturities extending up to 50 years, according to Chief Financial Officer Ziad Al-Murshed. Al-Murshed mentioned during the Saudi Capital Markets Forum in Riyadh that this issuance is part of the

Oil and gas industry shows resilience amidst shifting market dynamics

Oil and gas industry shows resilience amidst shifting market dynamics

Oil and gas industry shows resilience amidst shifting market dynamics GlobalData, a leading data and analytics company, reports a 16% quarter-on-quarter decline in disclosed contract volume in the oil and gas industry from 1,401 contracts in Q3 2023 to 1,172 contracts in Q4 2023. However, amidst this downturn, there was a marginal uptick in overall

NDDC to Complete Signature Projects in Niger Delta

NDDC to Complete Signature Projects in Niger Delta

NDDC to Complete Signature Projects in Niger Delta The Niger Delta Development Commission (NDDC) has reaffirmed its dedication to completing all ongoing development projects, particularly those with significant impact potential, in the Niger Delta region. During an inspection of the 21-kilometer Okossi-Mfokpo Eyokan Ubodung-Etebi Road and bridges in Okossi, Urue-Offong/Oruko Local Government Area of Akwa

NNPC Sports Fiesta Kicks Off, Ex-Super Eagles Stars to Face Company Team

NNPC Sports Fiesta Kicks Off

NNPC Sports Fiesta Kicks Off, Ex-Super Eagles Stars to Face Company Team The 13th NNPC Ltd. Sports Fiesta kicks off tomorrow at the Moshood Abiola National Stadium, with employees competing in 13 sports for bragging rights and a chance to represent the company in the upcoming Nigeria Oil & Gas Industry Games (NOGIG). Key Points:

Nigerian Youth Group Casts Doubt on Ending Gas Flaring by 2030

Nigerian Youth Group Casts Doubt on Ending Gas Flaring by 2030

Nigerian Youth Group Casts Doubt on Ending Gas Flaring by 2030 The Youths and Environmental Advocacy Centre (YEAC-Nigeria) has raised doubts about the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) assertion that routine gas flaring in the nation’s oil and gas activities will cease by 2030. NUPRC‘s Chief Executive Officer, Gbenga Komolafe, recently unveiled plans aimed

NNPC/TotalEnergies JV Achieves Zero Routine Gas Flaring

NNPC/TotalEnergies JV Achieves Zero Routine Gas Flaring

NNPC/TotalEnergies JV Achieves Zero Routine Gas Flaring, Boosting Nigeria’s Climate Goals The Nigerian National Petroleum Company Limited (NNPC Ltd) and TotalEnergies joint venture (JV) have announced a significant milestone in their sustainability efforts, achieving zero routine gas flaring across all their assets. This accomplishment marks a major step forward in reducing greenhouse gas emissions and

Shell Goes Big in Nigeria: Bonga Boos

Shell Goes Big in Nigeria: Bonga Boost, Gas Expansion, and Renewable Push

Shell Goes Big in Nigeria: Bonga Boost, Gas Expansion, and Renewable Push Shell is making a major statement in Nigeria, announcing a three-pronged strategy to boost its presence in the country: extending the life of the iconic Bonga FPSO, expanding its gas portfolio, and investing heavily in renewable energy solutions. Bonga Main Life Extension Project:

Gas Infrastructure: FG calls for Collaboration to Support existing Government Initiatives

Gas Infrastructure: FG calls for Collaboration to Support existing Government Initiatives

Gas Infrastructure: FG calls for Collaboration to Support existing Government Initiatives With critical gas infrastructure  such as the Ajaokuta-Kaduna-Kano (AKK) gas pipeline under construction, and the expansion of the Lagos-Escravos pipeline to Morocco and further to Europe, in pipeline, the Federal Government of Nigeria has called for collaboration to support existing government initiatives. The Minister

NUPRC canvasses for Establishment of African Petroleum Regulatory Forum 

NUPRC canvasses for Establishment of African Petroleum Regulatory Forum. To work collaboratively in shaping the regulatory landscape of Africa as well as have a unified voice for stronger and more influential representation on the global stage, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has canvassed for the establishment of African Petroleum Regulatory Forum (AFRIPERF). The

NARTO Urges Minister to Address Challenges Threatening Petroleum Distribution

NARTO Urges Minister to Address Challenges Threatening Petroleum Distribution

NARTO Urges Minister to Address Challenges Threatening Petroleum Distribution The National Association of Road Transport Owners (NARTO) has called on the Minister of State for Petroleum, Heineken Lokpobiri, to urgently address challenges facing the transportation of petroleum products across the country. In a letter dated February 6, 2024, NARTO President Yusuf Lawal Othman warned that

Navy Uncovers Illegal Refinery with 2.7 Million Litre Capacity in Rivers State

Navy Uncovers Illegal Refinery with 2.7 Million Litre Capacity in Rivers State

Navy Uncovers Illegal Refinery with 2.7 Million Litre Capacity in Rivers State The Nigerian Navy Ship, NNS Pathfinder, has made a significant discovery in Bokokiri, Ke community, Degema Local Government Area of Rivers State, uncovering 15 illegal refining camps, each comprising six refineries. These clandestine operations possessed the capability to refine an astonishing 2.7 million

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