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

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

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

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

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

Kuwait’s Oil Firm to Boost Indonesia’s Natuna Sea Offshore Exploration

Kuwait’s Oil Firm to Boost Indonesia’s Natuna Sea Offshore Exploration

December 9, 2024

The Kuwait Foreign Petroleum Exploration Company (KUFPEC) has announced plans to bid for additional oil and gas blocks offshore Indonesia and ramp up hydrocarbon exploration in the Natuna Sea. This was disclosed by the CEO of Kuwait’s state oil firm during an interview with Reuters on Monday. KUFPEC operates as an international upstream company, focusing […]Read More

Equinor Exits Nigeria, Azerbaijan with $2 Billion Asset Sales

Equinor Exits Nigeria, Azerbaijan with $2 Billion Asset Sales

December 9, 2024

Norwegian energy giant Equinor has officially exited the upstream oil and gas markets in Nigeria and Azerbaijan after completing asset sales worth $2 billion, the company announced on Monday. Equinor revealed it will receive $745 million from the sale of its portfolio in Azerbaijan and up to $1.2 billion for its Nigerian assets. The deals, […]Read More

Argentina’s Vaca Muerta Shale Play Hits New Oil Production Record

Argentina’s Vaca Muerta Shale Play Hits New Oil Production Record

December 9, 2024

Argentina’s Vaca Muerta shale play reached a new oil production record of 400,000 barrels per day in the third quarter and is on track to hit one million barrels per day by 2030, according to Rystad Energy’s latest analysis. That’s what Rystad stated in a release sent to Rigzone by the Rystad team recently, adding […]Read More

Breaking: Sanwo-Olu Signs Lagos Electricity Bill Into Law To Boost Power Supply

Breaking: Sanwo-Olu Signs Lagos Electricity Bill Into Law To Boost

December 3, 2024

Lagos State Governor Babajide Sanwo-Olu has officially signed the Lagos Electricity Bill 2024 into law. This legislation represents a significant step towards the state government’s objective of delivering a 24-hour electricity supply across Lagos, marking a major advancement in its power sector reforms. The bill follows the 2023 decision by the Federal Government to grant […]Read More

Libya Hits Record Oil Output of 1.59mbpd Amid Political Stability

Libya Hits Record Oil Output of 1.59mbpd Amid Political Stability

December 2, 2024

Libya’s National Oil Corporation (NOC) has announced a new production record, reporting daily output of 1,386,030 barrels of crude oil and condensate, alongside 203,017 barrels of oil equivalent (boe) from gas. This brings the country’s total production to 1,589,047 barrels per day, marking a significant achievement for the oil-rich nation. The announcement coincides with stable […]Read More

Port Harcourt Refinery Scales Down Operations for Upgrades, Assures Ongoing Fuel Distribution

Port Harcourt Refinery Scales Down Operations for Upgrades, Assures Ongoing

December 1, 2024

The Port Harcourt Refining Company has clarified that its operations have not been fully suspended but scaled down to facilitate ongoing upgrades at the facility. Moyi Maidunama, Executive Director of Operations at the Nigerian Pipeline and Storage Company Limited, disclosed this on Sunday during a guided tour of the refinery led by the company’s Managing […]Read More

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