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
Oil and gas giant Seplat has announced its ambition to double its crude oil production capacity within six months. This follows their acquisition of assets previously held by ExxonMobil, who have withdrawn from Nigeria’s onshore oil sector. Seplat’s Chief Financial Officer, Eleanor Adaralegbe, outlined this target in an interview with the Financial Times on Tuesday. […]Read More
Shell has signed a significant engineering, procurement, and construction (EPC) contract with China’s Offshore Oil Engineering Company (COOEC) to advance Nigeria’s gas production. COOEC will deliver a platform jacket and topsides for the HI gas and condensate project in Nigeria’s Offshore Mining Licence (OML) 144. Key Milestones in Offshore DevelopmentSituated 50 kilometres offshore in the […]Read More
The management of BUA Refinery and Petrochemicals has refuted reports claiming its 200,000 barrels per day (bpd) refinery in Akwa Ibom is 90 percent complete. In a statement shared via the Group’s official X account (formerly Twitter) on Sunday, the company acknowledged significant progress in the project while clarifying that the facility has not yet […]Read More
Oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have called on the Federal Government to privatise state-owned refineries, including the 125,000 barrels per day Warri and Kaduna refineries, as part of broader reforms to enhance transparency, competition, and operational efficiency in the downstream petroleum sector. In a report titled 2024 […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has announced that the Port Harcourt Refinery, with a capacity of 150,000 barrels per day (bpd), and the Kaduna Refinery are undergoing extensive rehabilitation to achieve world-class operational standards. This was revealed in a statement issued by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., in response […]Read More
Bharat Petroleum Corporation Ltd (BPCL), India’s second-largest fuel retailer, has unveiled plans to invest up to $11 billion in constructing a state-of-the-art refining and petrochemical complex in southern India. This development was revealed by the company’s chairman in a recent interview with Reuters. “We feel there is a big opportunity in refining sector. India’s primary […]Read More
The Nigerian National Petroleum Company Limited (NNPC), under the leadership of Mele Kyari, has unveiled the Production Monitoring Command Centre (PMCC), a cutting-edge initiative to revolutionise hydrocarbon operations. Spearheaded by NNPC Upstream Investment Management Services (NUIMS), the PMCC builds on the achievements of the Command and Control Centre, aiming to improve monitoring, operational efficiency, and […]Read More
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