• December 27, 2024
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Dangote Refinery Challenges Import Licenses Issued to NNPC, Matrix, A. A. Rano, Other Companies

Dangote Refinery Challenges Import Licenses Issued to NNPC, Matrix, A.

October 21, 2024

Dangote Petroleum Refinery and Petrochemicals FZE has filed a lawsuit at the Federal High Court in Abuja, seeking to invalidate import licenses granted to the Nigeria National Petroleum Company (NNPC) Limited, Matrix Petroleum Services Limited, A. A. Rano Limited, and four other companies.  The refinery argued that these licenses, which allow the importation of refined […]Read More

Nigeria Approves Seplat’s $1.28bn Purchase of ExxonMobil’s Onshore Assets

Nigeria Approves Seplat’s $1.28bn Purchase of ExxonMobil’s Onshore Assets

October 21, 2024

The Federal Government has given the green light to Seplat Energy’s purchase of Exxon Mobil Corp’s onshore assets, more than two years after the $1.28 billion deal was first agreed, according to the head of the country’s upstream regulatory body on Monday. The deal, initially announced in February 2022, had been under regulatory review, awaiting […]Read More

Shelf Drilling Secures $234 Million in Contracts for Nigerian Offshore Operations

Shelf Drilling Secures $234 Million in Contracts for Nigerian Offshore

October 21, 2024

Shelf Drilling, an Oslo-listed drilling contractor, has secured contracts worth around $234 million for two jack-up rigs set to operate off the coast of Nigeria. The Dubai-based company confirmed a three-year contract for its rig, the Shelf Drilling Achiever, with operations expected to begin in October 2024. The contract also includes an option to extend […]Read More

Afenifere Urges NNPC to Address Soaring Energy Costs, Revive Refineries

Afenifere Urges NNPC to Address Soaring Energy Costs, Revive Refineries

October 20, 2024

The pan-Yoruba socio-political group, Afenifere, expressed concern on Saturday about the rising cost of energy, stating that it negatively affects not only the economy but also health and security. Afenifere’s comments follow the sharp increase in petrol prices, with a litre now costing between N1,000 and N1,400, while the price of cooking gas has risen […]Read More

Egbin Power Calls for Partnership to Boost Nigeria’s Energy Sector

Egbin Power Calls for Partnership to Boost Nigeria’s Energy Sector

October 20, 2024

Egbin Power, Nigeria’s largest power generation company, has highlighted the need for stronger collaboration among stakeholders in the energy sector to drive the country’s socio-economic growth. Speaking at the 2024 Nigeria Energy Conference in Lagos, Egbin Power’s CEO, Mokhtar Bounour, stressed the importance of unity in the sector during a panel session themed “Gas to […]Read More

CNG Explosion in Benin City Injures Several, Sparks Safety Concerns

CNG Explosion in Benin City Injures Several, Sparks Safety Concerns

October 18, 2024

A compressed natural gas (CNG) tank explosion at a NIPCO station in Aduwawa, Benin City, Edo State, has left several people injured. Although no fatalities have been reported, the incident has sparked serious safety concerns. Footage of the aftermath, shared widely on X (formerly known as Twitter), shows the devastating scene. A station wagon, with […]Read More

Oil Companies Blame Host Communities for Theft, Pipeline Vandalism

Oil Companies Blame Host Communities for Theft, Pipeline Vandalism

October 18, 2024

Oil companies operating in Nigeria have pointed to host communities as the main culprits behind oil theft and pipeline vandalism in the region. This claim was made during a public hearing on oil theft, pipeline vandalism, and their effects on oil-producing states, held by the House of Representatives in Abuja. The companies highlighted that environmental […]Read More

Nigerian Regulator Blocks $1.3bn Sale of Shell’s Onshore Oilfields Over Buyer’s Ineligibility

Nigerian Regulator Blocks $1.3bn Sale of Shell’s Onshore Oilfields Over

October 16, 2024

The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has rejected the proposed $1.3 billion sale of onshore oilfields to the Renaissance Group, citing the buyer’s lack of qualification to manage the assets, according to a Reuters report. Shell, which owns the assets via Shell Petroleum Development Company (SPDC), stated it was providing […]Read More

Libya Oil Output Rises to 1.3 Million Bpd

Libya Oil Output Rises to 1.3 Million Bpd

October 14, 2024

Libya’s crude oil production has recovered to 1.3 million barrels daily, the National Oil Corporation has reported, following the resolution of a political dispute over the appointment of a new governor to the nation’s central bank. “Efforts are still ongoing to increase production levels,” NOC also said. Crude production at most Libyan oilfields was suspended […]Read More

Dangote Seeks Vessel for Oil Production in 2024

Dangote Seeks Vessel for Oil Production in 2024

October 12, 2024

Dangote Group has announced its search for a floating production, storage, and offloading (FPSO) vessel with a capacity of 650,000 barrels to support its planned oil production. The company anticipates beginning production at its two Nigerian oil assets, Oil Mining Leases (OMLs) 71 and 72, in the fourth quarter of 2024 (October to December), following […]Read More

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