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NNPC Secures $1bn Crude-Backed Loan to Support Dangote Refinery
news Oil and Gas

NNPC Secures $1bn Crude-Backed Loan to Support Dangote Refinery

December 17, 2024

The Chief Corporate Communications Officer of Nigerian National Petroleum Company Limited (NNPC Ltd), Olufemi Soneye, announced on Monday that the company secured a $1 billion crude-backed loan to address liquidity challenges at the Dangote Refinery. Speaking during an energy stakeholders’ engagement session in Abuja, Soneye highlighted NNPC’s commitment to fostering public-private partnerships to drive national […]Read More

President Tinubu Hails Shell’s $5Bn Bonga North Investment Decision
news offshore Oil and Gas

President Tinubu Hails Shell’s $5Bn Bonga North Investment Decision

December 16, 2024

President Bola Ahmed Tinubu has applauded Shell and its partners for announcing the Final Investment Decision (FID) on the Bonga North Deep Offshore Field, marking a pivotal milestone in Nigeria’s oil and gas sector. According to an official statement, this project—the country’s first deepwater oil venture in over a decade—reflects the transformative impact of the […]Read More

Nigeria to Add 150MW to National Grid by Year-End, Says Adelabu
news power

Nigeria to Add 150MW to National Grid by Year-End, Says

December 12, 2024

The Minister of Power, Adebayo Adelabu, has revealed plans to boost Nigeria’s national grid capacity by an additional 150 megawatts (MW) before the end of 2024. Adelabu shared this update on Thursday while addressing State House Correspondents after a high-level meeting between German President Frank-Walter Steinmeier and Nigerian President Bola Tinubu at the Presidential Villa […]Read More

Seplat Energy Finalises Acquisition of ExxonMobil’s MPNU
news Oil and Gas

Seplat Energy Finalises Acquisition of ExxonMobil’s MPNU

December 12, 2024

Seplat Energy Plc has completed the acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil, marking a significant milestone for the company and Nigeria’s oil and gas industry. This transformative deal more than doubles Seplat Energy’s production capacity, positioning the company as a key driver of growth, profitability, and sustainable development in Nigeria’s energy sector. […]Read More

Rosneft to Supply 500,000 BPD to India’s Reliance Industries in Historic Deal
news Oil and Gas

Rosneft to Supply 500,000 BPD to India’s Reliance Industries in

December 12, 2024

Russia’s state-owned oil company, Rosneft, has finalised a landmark agreement to supply nearly 500,000 barrels of crude oil daily to India’s Reliance Industries. This deal, reported by Reuters on Thursday, marks the largest oil supply partnership between the two nations. The 10-year contract, valued at approximately $13 billion annually at current market prices, will see […]Read More

National Power Grid Collapses Again, Plunging Nigeria Into Darkness
news power

National Power Grid Collapses Again, Plunging Nigeria Into Darkness

December 11, 2024

Nigerians have experienced another nationwide blackout following the collapse of the national power grid, marking the first grid failure in December 2024. This incident is the fourth grid collapse in the past three months, leaving many parts of the country grappling with prolonged power outages. Some regions are still recovering from the previous total system […]Read More

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