Nigeria Targets $10 Billion Investment from 50 Oil Blocks to Boost 400,000 BPD Output
Nigeria is set to lease 50 oil blocks to investors in a bid to raise $10 billion and increase oil…
Category: Energy
FG Launches $100 Million Equity Investment Scheme to Boost Nigerian Oil Companies
The Federal Government has announced a $100 million equity investment scheme to strengthen the capacity of Nigerian companies operating in…
Nigerian Crude Oil Surges Above $65 Amid Geopolitical Tensions and OPEC+ Decisions
Nigerian crude oil prices climbed above the $65 per barrel mark on Monday, driven by growing geopolitical tensions and supply…
Nigeria Launches $100 Million Equity Fund to Boost Local Oil and Gas Producers
Nigeria is taking bold steps to strengthen its local oil and gas industry with the launch of a $100 million…
NUPRC Launches 2025 Oil Licensing Round with Fully Digital Bidding Portal
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially opened the 2025 Oil Licensing Round, unveiling a fully digital bidding…
TotalEnergies Sells 40% Stake in Nigerian Offshore Assets to Chevron to Boost Exploration
TotalEnergies has agreed to sell a 40% stake in its Nigerian offshore assets to Chevron, signaling a strategic reshuffle in…
Dangote Urges End to Fuel Imports, Says Nigeria Can Meet Local Demand
Aliko Dangote, President and CEO of Dangote Industries Limited, has called for an immediate end to Nigeria’s fuel imports, asserting…
Experts Urge Nigeria to Sell Aging Refineries Amid N2.92 Trillion Investment in 2024
As the Nigerian National Petroleum Company Limited (NNPCL) weighs the future of the country’s refineries, energy experts are urging the…
OPEC Maintains Nigeria’s 1.5 Million BPD Oil Quota Through 2026
The Organisation of the Petroleum Exporting Countries (OPEC) has confirmed that Nigeria’s crude oil production quota will remain at 1.5…
Dangote Refinery Pledges 1.5 Billion Litres of Petrol Monthly to Boost Nigeria’s Fuel Security
Dangote Petroleum Refinery has confirmed it will supply 1.5 billion litres of Premium Motor Spirit (PMS) monthly, equivalent to 50…
NNPCL’s Crude-for-Loan Burden Hits N8.07tn: Eagle, Gazelle, Yield Projects Drive Debt Exposure
The Nigerian National Petroleum Company Limited (NNPCL) is grappling with a staggering N8.07tn in crude-backed loan obligations, according to its…
Nigeria’s Refining Capacity Hits 62% Amid Crude Shortages and Technical Challenges
Nigeria’s oil refining sector continues to struggle with low utilisation despite having a combined installed capacity of 1.125 million barrels…
Nigeria Imports 828m Litres of Petrol as Dangote Refinery Falls Short in October
Nigeria’s fuel security weakened in October after the Dangote Petroleum Refinery supplied only a fraction of the nation’s petrol needs,…
NNPC Boosts Investment in Dormant Refineries to N2.92tn Amid Ongoing Revival Plans
The Nigerian National Petroleum Company Limited (NNPC) increased its investment in the country’s three non-operational refineries to N2.92 trillion in…
Nigeria Receives $21.57 Billion Boost for Clean Energy Development
Nigeria and several other developing nations have received a substantial $21.57 billion for clean energy development, marking a sharp increase…
NNPCL-Heirs Energies JV Doubles Gas Supply, Boosting Power Generation Across Eastern Nigeria
Nigeria’s domestic gas supply and electricity generation have received a major boost following a landmark development by the NNPCL/Heirs Energies…
NNPCL’s N17.5tn Pipeline Security Spending Sparks Audit Demands in 2024 Financial Review
Nigeria’s national oil company, the Nigerian National Petroleum Company Limited (NNPCL), has revealed that the Federation owes it an extraordinary…
Dangote Refinery Denies Claims of Exporting Off-Spec Diesel Amid Rising Quality Concerns
Dangote Refinery has firmly denied allegations that it exported off-specification diesel to European markets, following reports that buyers were rejecting…
GenCos Set to Gain Foreign Exchange from West Africa Power Pool Amid Market Shifts
Nigerian power generation companies (GenCos) are poised to reap foreign exchange (FX) benefits through participation in the West Africa Power…
NNPC/Heirs Energies OML 17 Boosts Gas Supply to 135MMscf, Powering Nigeria’s Eastern Network
The NNPC/Heirs Energies OML 17 Joint Venture (JV) has achieved a major breakthrough in Nigeria’s gas sector, doubling its gas…
Dangote Refinery Cuts Nigeria’s Malta Petrol Imports by 60% as Local Supply Surges
Nigeria’s petrol imports from Malta have fallen sharply, dropping by 60 percent in 2024, as the Dangote Petroleum Refinery ramps…
AfDB Approves $500m Loan to Boost Nigeria’s Energy Reforms and Fiscal Stability
The African Development Bank has approved a fresh $500 million loan to support Nigeria’s ongoing economic governance and energy transition…
Oil Prices Rise After One-Month Low Amid Signs of Ukraine-Russia Peace Progress
Oil prices edged higher on Wednesday, rebounding slightly after falling to a one-month low in the previous session, as markets…
Dangote, Honeywell Partner to Boost Refinery Capacity to 1.4m bpd by 2028
The Dangote Petroleum Refinery has taken a major step toward becoming the world’s largest single-location refining complex after sealing a…
Lontor Hi-Tech Invests N1.2B to Drive Sustainable Energy and Smart Living in Nigeria
LONTOR Hi-Tech Development Company has reaffirmed its dedication to sustainable energy and smart living in Nigeria with a landmark N1.2…
Nigerian Geochemist Pushes for Smarter, Sustainable Oil Production with New Scientific Evidence
Nigeria’s efforts to strengthen and modernise its energy sector are receiving a significant boost from new scientific insights, as petroleum…
NNPC Sets June 2026 Deadline to Seal New Refinery Partnerships as Nigeria Targets Global Standards
The Nigerian National Petroleum Company Limited (NNPCL) has set June 2026 as the deadline to select technical partners for its…
Africa’s Solar Potential Underutilized as EU Mobilizes €15.5 Billion for Renewable Energy
Africa is home to 60% of the world’s best solar resources, yet it receives a mere 2% of global energy…
Audit Reveals N61 Billion in Payment Breaches at NNPC Ltd
The Office of the Auditor-General for the Federation has uncovered major financial irregularities at the Nigerian National Petroleum Company Limited…
Nigeria Sees Surge in Petrol Shipments After Government Suspends Import Duty
Nigeria has recorded a significant surge in petrol shipments following the Federal Government’s decision to delay the implementation of a…