News and Updates

Since assuming office in April 2022, Opoku-Ahweneeh Danquah, CEO of the Ghana National Petroleum Corporation (GNPC), has been leading the organization’s efforts to maximize the country’s benefits from its oil and gas resources. Mr. Danquah, who previously served as Deputy CEO, ascended to the position of CEO at GNPC following Dr. K.K. Sarpong’s tenure. Dr. […]

The Nigerian Gas Association (NGA) has commended the federal government for the recent gazetting of three policy directives in the oil and gas sector. The directives, issued on March 1, include introducing fiscal incentives for non-associated gas, midstream, and deepwater developments, as well as reducing the contracting cycle from 36 months to six months. According

Oil Rises on Signs of Strong Demand, Rate Cut Hopes Oil rose on Wednesday, supported by signs of strong global demand including from top consumer the United States while hopes that the Federal Reserve might start cutting rates soon also buoyed sentiment despite somewhat sticky US inflation. In an indication of healthy demand, US crude

FX Devaluation, Increased Production Spurs 37% Growth In Nigeria’s Oil Export In 2023 Nigeria recorded a total crude oil export revenue of N29 trillion in 2023, a 37% increase compared to N21.1 trillion recorded in the previous year. This is contained in the recently released foreign trade report by the National Bureau of Statistics (NBS).

Olu Verheijen, the special adviser on energy to President Bola Tinubu, has stated that the recent oil and gas reforms by President Bola Tinubu are geared towards revamping the economy and improving revenue generation from the sector. Verheijen made this statement in Abuja on Friday while speaking at ministerial press briefings. According to her, Nigeria

In December 2022, the leading trade body for the UK’s offshore energy industry, Offshore Energies UK (OEUK) published a report highlighting an industry-wide skills shortage. Component production is one area where a lack of skills could hold back the UK’s transition to cleaner energy. However, additive manufacturing (AM) can help firms overcome this skills shortage

Top IOCs are reaffirming their dedication to African oil and gas, which is encouraging for drilling contractors, service providers, and the sector as a whole. High-ranking officials from TotalEnergies, Shell, and Chevron confirmed multimillion-dollar investment initiatives in the works, ranging from advancing frontier exploration to supplying gas from developed markets, during speeches earlier this month

The Nigerian and African oil and gas industry is currently grappling with the effects of the new energy world order which comes with its challenges. The Chief Financial Officer (CFO) of Lekoil Nigeria Limited, Mr. Edward During, shared his thoughts on the issues with Peter Uzoho, on the sidelines of the just-concluded 7th Nigerian International

Solutions already exist to drive down global methane emissions – they just have to be properly utilised by oil and gas companies for the industry to keep to their pledges, says Mark Brownstein, senior vice president of energy transition at the Environmental Defense Fund (EDF), a global non-profit organisation focused on tackling climate change and

The oil and gas industry saw heavyweight M&A deals in 2023, including massive deals like ExxonMobil‘s acquisition of Pioneer Natural Resources and Chevron‘s acquisition of Hess Energy. And industry analysts and executives expect the strong momentum of M&A activities in 2023 to continue into 2024. Industry experts estimate that continued consolidation in the U.S. shale