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By Obinna Uballa Nigeria has secured another landmark investment in its energy sector as Shell Petroleum Development Company (SPDC) announced a Final Investment Decision (FID) worth $2 billion for a new offshore gas project in the HI Field, located in Oil Mining Lease (OML) 144. President Bola Tinubu, in a statement released by his Special…
October 14, 2025
By Obinna Uballa Nigeria lost an estimated 13.5 million barrels of crude oil valued at $3.3 billion to theft and pipeline sabotage between 2023 and 2024, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. Executive Secretary of NEITI, Dr. Ogbonnaya Orji, disclosed this on Thursday at the 2025 Association of Energy Correspondents of Nigeria…
October 9, 2025
By Abiola Olawale Nigeria is negotiating a $2 billion loan from China's Export-Import Bank to construct a "super grid" to ease the country’s power shortages. This was made known by the Minister of Power, Adebayo Adelabu, at the Nigerian Economic Summit in Abuja. The Minister said the loan, when approved, would be used to dismantle…
October 7, 2025
Oil prices recovered slightly in early Asian trading on Wednesday after two straight sessions of steep declines, as traders weighed the prospect of a larger OPEC+ output increase against signs of tighter U.S. crude inventories. At the time of writing, Brent futures for December delivery had climbed to $66.17 while WTI was trading at $62.50, up 0.21% on the…
October 1, 2025
By Obinna Uballa TotalEnergies’ plan to scale back its presence in Nigeria’s troubled onshore oil sector has hit a major roadblock after the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revoked approval for the sale of its 10 per cent stake in the Shell Petroleum Development Company (SPDC) joint venture to Chappal Energies. The $860 million…
September 24, 2025
Crude oil prices were on course to close a second week of gains in a row despite declines earlier in the week on persistent worry about oversupply, despite the continued drone attacks of Ukrainian forces on Russian refineries. At the time of writing, Brent crude was trading at $67.40 per barrel, with West Texas Intermediate changing hands for $63.49…
September 19, 2025
By Obinna Uballa Nigeria’s Dangote refinery has entered the global spotlight with its first shipments of petrol to the United States, underscoring the facility’s potential to reshape international fuel flows, even as African leaders press for stronger regional collaboration on energy security. Vessel-tracking data showed that top trader Vitol and US distributor Sunoco took delivery…
September 17, 2025
By Obinna Uballa The Federal government of Nigeria is pushing a twin agenda of attracting record upstream investments andy fostering regional energy integration, with applicable officials in the energy sector insisting that the continent must unite to tackle energy poverty and reduce its dependence on hydrocarbon imports. At the ongoing Africa Oil Week (AOW) holding…
September 17, 2025
By Abiola Olawale Africa's richest man and President/Chief Executive, Dangote Petroleum Refinery, Aliko Dangote, has declared an end to what he described as Nigeria's decades-long nightmare of fuel queues. This is as Dangote maintained that his $20 billion mega-refinery, operational since September 3, 2024, has transformed the nation's energy landscape, eliminating chronic shortages that plagued…
September 16, 2025
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By Obinna Uballa Nigeria has secured another landmark investment in its energy sector as Shell Petroleum Development Company (SPDC) announced a Final Investment Decision (FID) worth $2 billion for a new offshore gas project in the HI Field, located in Oil Mining Lease (OML) 144. President Bola Tinubu, in a statement released by his Special…
October 14, 2025
By Obinna Uballa Nigeria lost an estimated 13.5 million barrels of crude oil valued at $3.3 billion to theft and pipeline sabotage between 2023 and 2024, the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed. Executive Secretary of NEITI, Dr. Ogbonnaya Orji, disclosed this on Thursday at the 2025 Association of Energy Correspondents of Nigeria…
October 9, 2025
By Abiola Olawale Nigeria is negotiating a $2 billion loan from China's Export-Import Bank to construct a "super grid" to ease the country’s power shortages. This was made known by the Minister of Power, Adebayo Adelabu, at the Nigerian Economic Summit in Abuja. The Minister said the loan, when approved, would be used to dismantle…
October 7, 2025
Oil prices recovered slightly in early Asian trading on Wednesday after two straight sessions of steep declines, as traders weighed the prospect of a larger OPEC+ output increase against signs of tighter U.S. crude inventories. At the time of writing, Brent futures for December delivery had climbed to $66.17 while WTI was trading at $62.50, up 0.21% on the…
October 1, 2025
By Obinna Uballa TotalEnergies’ plan to scale back its presence in Nigeria’s troubled onshore oil sector has hit a major roadblock after the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revoked approval for the sale of its 10 per cent stake in the Shell Petroleum Development Company (SPDC) joint venture to Chappal Energies. The $860 million…
September 24, 2025
Crude oil prices were on course to close a second week of gains in a row despite declines earlier in the week on persistent worry about oversupply, despite the continued drone attacks of Ukrainian forces on Russian refineries. At the time of writing, Brent crude was trading at $67.40 per barrel, with West Texas Intermediate changing hands for $63.49…
September 19, 2025
By Obinna Uballa Nigeria’s Dangote refinery has entered the global spotlight with its first shipments of petrol to the United States, underscoring the facility’s potential to reshape international fuel flows, even as African leaders press for stronger regional collaboration on energy security. Vessel-tracking data showed that top trader Vitol and US distributor Sunoco took delivery…
September 17, 2025
By Obinna Uballa The Federal government of Nigeria is pushing a twin agenda of attracting record upstream investments andy fostering regional energy integration, with applicable officials in the energy sector insisting that the continent must unite to tackle energy poverty and reduce its dependence on hydrocarbon imports. At the ongoing Africa Oil Week (AOW) holding…
September 17, 2025
By Abiola Olawale Africa's richest man and President/Chief Executive, Dangote Petroleum Refinery, Aliko Dangote, has declared an end to what he described as Nigeria's decades-long nightmare of fuel queues. This is as Dangote maintained that his $20 billion mega-refinery, operational since September 3, 2024, has transformed the nation's energy landscape, eliminating chronic shortages that plagued…
September 16, 2025
