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Brent and WTI jumped roughly 3% in early Asian trading as traders priced in worsening Middle East supply risks. Saudi Arabia’s East-West Pipeline remains shut after drone attacks, putting export flows equivalent to roughly 4% of global oil supply at risk if operations do not resume soon. Houthi advances around Bab el-Mandeb and the postponement…
September 14, 2026
By Afolayan Sunday The House of Representatives Public Accounts Committee (PAC) has launched a full-scale investigation into the mounting financial liabilities owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and major oil marketing companies. The probe follows damning revelations from the Office of the…
September 9, 2026
By Obinna Uballa The Organisation of Petroleum Exporting Countries and its allies, OPEC+, have agreed to pause planned oil supply increases through the first quarter of 2026, choosing to maintain current production levels amid a growing global surplus and uncertainty over the future of Venezuelan oil output. The decision was taken at a brief virtual…
January 5, 2026
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
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Brent and WTI jumped roughly 3% in early Asian trading as traders priced in worsening Middle East supply risks. Saudi Arabia’s East-West Pipeline remains shut after drone attacks, putting export flows equivalent to roughly 4% of global oil supply at risk if operations do not resume soon. Houthi advances around Bab el-Mandeb and the postponement…
September 14, 2026
By Afolayan Sunday The House of Representatives Public Accounts Committee (PAC) has launched a full-scale investigation into the mounting financial liabilities owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by the Nigerian National Petroleum Company Limited (NNPCL) and major oil marketing companies. The probe follows damning revelations from the Office of the…
September 9, 2026
By Obinna Uballa The Organisation of Petroleum Exporting Countries and its allies, OPEC+, have agreed to pause planned oil supply increases through the first quarter of 2026, choosing to maintain current production levels amid a growing global surplus and uncertainty over the future of Venezuelan oil output. The decision was taken at a brief virtual…
January 5, 2026
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
