Eterna Plc has announced the appointment of Olumide Adeosun as its new Managing Director and Chief Executive Officer, effective 3 February 2025. The disclosure, signed by company secretary David Edet, was shared via the Nigerian Exchange platform. Adeosun will succeed Abiola Lawal, who is set to step down on 31 January 2025. The Board expressed […]Read More
The Organisation of the Petroleum Exporting Countries (OPEC) has reported that increased petrol production from Nigeria’s Dangote Refinery is intensifying pressure on Europe’s already sluggish fuel market. In its latest monthly report, OPEC highlighted that the Dangote Refinery, which began exporting petrol in December 2024, has contributed to an oversupply situation in the European fuel […]Read More
PowerGen Renewable Energy (PowerGen) has partnered with leading international investors to establish a scalable, distributed renewable energy platform targeting the deployment of 120 megawatts (MW) of renewable power, including battery energy storage solutions across Africa. The platform is a collaboration between PowerGen and the Private Infrastructure Development Group (PIDG), the Danish Investment Fund for Developing Countries (IFU), EDFI Management Company, through […]Read More
Global oil markets are on track to face a significant surplus in 2026, according to the U.S. Energy Information Administration (EIA). OPEC’s decision to ramp up production, combined with steady output growth from countries like the United States, Canada, and Guyana, is driving the projected glut. In its latest report, released on January 14, 2025, […]Read More
Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, announced on Wednesday that the state-owned oil company has contributed ₦10 trillion to the federation account. He highlighted that this achievement makes NNPC the highest taxpayer in Nigeria and the only company in the country that consistently publishes 100% of its […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has confirmed that four state governments—Enugu, Ekiti, Ondo, and Imo—are now set to assume control of electricity generation, transmission, and distribution within their respective states. This follows the ongoing transfer of regulatory authority from NERC to state-level regulators. In an announcement shared on the social media platform X, NERC […]Read More
Coal continues to dominate South Africa’s energy portfolio, at over 80% of the country’s power generation mix JOHANNESBURG, South Africa – Just Energy Transition Partnerships (JETP) have been introduced in recent years to provide financial support to developing nations as they transition away from fossil fuels. In 2021, during the 26th UN Climate Change Conference of […]Read More
Oil prices climbed for a third consecutive session on Monday, with Brent crude surpassing $80 per barrel, marking its highest level in over four months. The rally is attributed to expanded U.S. sanctions targeting Russian crude exports to major buyers like China and India. Brent crude futures increased by $1.14 (1.43%) to $80.90 per barrel […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has issued an order transferring regulatory oversight of Niger State’s electricity market to the Niger State Electricity Regulatory Commission (NSERC). This decision aligns with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the revised Electricity Act 2023. Niger State joins Enugu, Ekiti, Ondo, Imo, Oyo, Kogi, […]Read More
Slovak Prime Minister Robert Fico has suggested he is open to the possibility of resuming natural gas transit through Ukraine after the current five-year transit agreement between Moscow and Kyiv expires. Fico has urged Ukrainian President Volodymyr Zelenskiy to restart the transit, citing the impact of elevated energy costs on Slovakia and the broader region. […]Read More
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