News and Updates

Flows of gas from Libya to Italy and production at Libya’s Wafa field resumed on Monday after being shut down last week by protesting Petroleum Facilities Guard (PFG) forces over non-payment of salaries. On Sunday, Libya’s interim prime minister Abdulhamid Dbeibah approved a decision to increase salaries for PFG forces, responsible for the security of […]

Nigeria’s petrol subsidy has returned and is now bigger than the amount being paid before President Bola Tinubu stopped the costly practice last May. BusinessDay’s analysis has revealed that the country is paying about N907.5 billion subsidy on premium motor spirit (PMS) popularly known as petrol monthly as the country’s foreign exchange crisis pushed the

There are assurances by the Federal Government to fix Nigeria’s power crises by settling outstanding debts of about $2.16 billion to energy producers and tackling gas supply shortages to generating firms. Nigeria has about 12,500 megawatts of installed capacity but only produces about a quarter of that, forcing households and businesses, including manufacturers to resort

The 13th Nigerian National Petroleum Company Limited, NNPCL Sports Fiesta will kick-off today Sunday, February 18th, 2024) at the Moshood Abiola National Stadium in Abuja as the Company strives to retain its legendary status of the team to beat in the Nigeria Oil & Gas Industry Games (NOGIG) coming up later in April, this year.

Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe with Chairman of the Committee, Senator Natasha Akpoti-Uduagha at the first interactive session between the Senate Committee on Local Content and the leadership of the NCDMB at the Senate Building at Abuja. The Senate Committee on Local Content and the Nigerian Content

While global oil demand is predicted to decline in 2024, a bright spot emerges in the East. India, one of the largest buyers of Nigeria’s crude oil, is expected to see rising demand, driven by its growing population and economy. This raises a crucial question for Nigeria, Africa’s biggest oil producer: is it ready to

The Nigerian National Petroleum Company Limited (NNPC) paid cash amounting to $325.09 million (N140.559 billion) for the acquisition of Oando-branded retail stations and a reception jetty in Apapa, among other facilities, its latest financial statements show. The NNPC announced in October 2022 that it had acquired OVH Energy Marketing, owner and operator of the Oando

Wison New Energies country manager in Nigeria Fan Jian said the company was “confident that our FLNG EPCIC experience will guarantee a successful and efficient delivery. We are excited about advancing to the next stage in the near future.” Wison New Energies has begun design work on two 3 million tonne per year floating LNG

Africa Oil expects to reach a point of inflection by mid-2024, with no capital expenditure commitments and no debt – opening up the possibility of M&A, CEO Roger Tucker has said. The executive was speaking at Pareto’s annual E&P conference in London. The aim is to “derisk the portfolio”, he said. Africa Oil will farm