News and Updates

Ghana is proposing to import refined petroleum products from Nigeria to boost the country’s energy security and sustain business cooperation with her neighbours.The Chief Executive Officer (CEO) of National Petroleum Authority of Ghana, Dr. Mustapha Abdul-Hamid, at the opening panel session at the 18th Africa Downstream Energy Week (OTL) in Lagos, with the the theme, […]

The Managing Director of Shell Petroleum Development Company Limited (SPDC) and Chairman of Shell Companies in Nigeria, Osagie Okunbor, shared an optimistic outlook on the future of Nigeria’s oil and gas industry during a panel session at the just concluded Nigeria Economic Summit in Abuja. Speaking on the theme “Fuelling Growth: The Future of Oil

India’s role in global oil and gas markets is expected to expand substantially, with the energy demand projected to double by 2050, fueled by strong economic and population growth. India is expected to receive investments worth $87 billion in the next decade to meet the nation’s rising demand for petrochemicals, the country’s oil minister Hardeep

Oil and gas investors shouldn’t sweat the polls, Morningstar stated in a new report sent to Rigzone. “During the last nine presidential terms, there is no relationship between energy returns and what political party controls the White House or Congress,” Morningstar said in the report, adding, “we do not expect that to change in 2024”.

Nigerian National Petroleum Corp. (NNPC) and partners including Shell, TotalEnergies and Agip struck a landmark deal to sell gas to the methanol-manufacturing project of the country’s Brass Fertilizer & Petrochemical Co. Ltd. The gas sales-and-purchase agreement was signed on Friday in the capital, Abuja, nine years after the project was first announced. “The signing represents

Nigeria is hoping to increase production capacity and possibly meet its OPEC quota with a fresh investment commitment by oil major ExxonMobil. ExxonMobil is proposing a $10 billion investment in Nigeria’s deep-water oil operations. The Vice President Kashim Shettima has welcomed the proposal describing it as a clear testament to the administration’s economic reforms and

UBS has cut its oil price forecasts for 2024, citing a weaker global demand outlook especially driven by a slowing Chinese economy. It lowered its price view for both Brent and WTI by $4 to $80 per barrel and $76 per barrel respectively. “The key downside risks would be a recession, which would in turn

The $550 million upstream gas project between the NNPC Ltd and TotalEnergies on the development of the Ubeta field has taken off, the Presidency announced on Tuesday. Special Adviser to the President on Energy, Olu Verheijen, disclosed thisduring an inaugural US-Nigeria Strategic Energy Dialogue, hosted by theU.S. State Department in Washington, DC. The signing ceremony

The Etyfa Prometheas LNG carrier was converted into a floating storage and regasification unit for use at Cyprus’s first LNG import terminal at Vasilikos, which is currently on hold. Chevron and its partners in the long-delayed Aphrodite gas project in Block 12 of Cyprus’ Exclusive Economic Zone in the eastern Mediterranean have submitted an updated

Nigeria is expecting emerging local payers to ramp up production to support efforts of Government to meet its oil production aspiration. Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, said Oando’s acquisition of Eni’s Subsidiary, Nigerian Agip Oil Company (NAOC) would help the county recover and improve crude oil production to two million barrels