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By Obinna Uballa The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries. While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work…
August 21, 2025
By Obinna Uballa Notable economist and Managing Director of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has cautioned that Nigeria’s plan to ramp up crude oil production to 2 million barrels per day (bpd) before the end of 2025 is inconsistent with its OPEC quota and could have serious implications for the country’s relationship with…
August 21, 2025
By Obinna Uballa The Federal Government has threatened to withdraw oil operating licences from companies that have failed to demonstrate the financial and technical capacity to produce crude, warning that idle assets undermine Nigeria’s push to ramp up output. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, issued the warning on Wednesday in Abuja…
August 20, 2025
By Obinna Uballa A new research by Wood Mackenzie (WoodMac) has revealed that the world must invest more than $1.2 trillion in battery storage capacity over the next decade to stabilise electricity grids dominated by renewables. The WoodMackenzie, a leading global research consultancy firm estimates that the power sector faces a 1,400 GW battery shortfall…
August 20, 2025
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, shrinking by 2.4 million barrels in the week ending August 15. Analysts had expected a 1.2-million-barrel draw. So far this year, crude oil inventories are up nearly 8 million barrels, according to Oilprice calculations of API data. Earlier…
August 20, 2025
The August 15 Trump-Putin meeting has caught Europe off guard, sparking urgent diplomatic moves to avoid being sidelined. EU leaders have set strict red lines on Ukraine, including a cease-fire and security guarantees, but face internal divisions, notably from Hungary. Despite threats of more sanctions and military proposals, Europe’s influence appears limited compared to Washington…
August 13, 2025
This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the world’s most lucrative oil projects. Guyana’s Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. Hess Corp, and…
May 28, 2025
By Kolawole Ojebisi Chairman of Transcorp Group, Tony Elumelu, has identified finding permanent solution to the protracted challenge of electricity as essential to realising Nigeria's ambition to build a $1trn economy. Elumelu, who spoke on Wednesday, at the company’s Annual General Meeting held in Abuja, said access to reliable power remains the single most critical…
April 10, 2025
By Kolawole Ojebisi Founder of Heirs Energies, Tony Elumelu, has said that ramping up oil production to generate revenue is crucial to the diversification of Nigeria's economic. Elumelu said this at the Heirs Enegies leadership forum on Thursday in Abuja. He emphasised the need for massive investment in oil and gas to power the country’s…
February 22, 2025
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By Obinna Uballa The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr Bashir Bayo Ojulari, has countered Africa’s richest man, Aliko Dangote, over the future of Nigeria’s government-owned refineries. While Dangote recently cast doubt on the viability of the Port Harcourt, Warri, and Kaduna refinerie, stating they may never work…
August 21, 2025
By Obinna Uballa Notable economist and Managing Director of Financial Derivatives Company Limited, Mr. Bismarck Rewane, has cautioned that Nigeria’s plan to ramp up crude oil production to 2 million barrels per day (bpd) before the end of 2025 is inconsistent with its OPEC quota and could have serious implications for the country’s relationship with…
August 21, 2025
By Obinna Uballa The Federal Government has threatened to withdraw oil operating licences from companies that have failed to demonstrate the financial and technical capacity to produce crude, warning that idle assets undermine Nigeria’s push to ramp up output. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, issued the warning on Wednesday in Abuja…
August 20, 2025
By Obinna Uballa A new research by Wood Mackenzie (WoodMac) has revealed that the world must invest more than $1.2 trillion in battery storage capacity over the next decade to stabilise electricity grids dominated by renewables. The WoodMackenzie, a leading global research consultancy firm estimates that the power sector faces a 1,400 GW battery shortfall…
August 20, 2025
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, shrinking by 2.4 million barrels in the week ending August 15. Analysts had expected a 1.2-million-barrel draw. So far this year, crude oil inventories are up nearly 8 million barrels, according to Oilprice calculations of API data. Earlier…
August 20, 2025
The August 15 Trump-Putin meeting has caught Europe off guard, sparking urgent diplomatic moves to avoid being sidelined. EU leaders have set strict red lines on Ukraine, including a cease-fire and security guarantees, but face internal divisions, notably from Hungary. Despite threats of more sanctions and military proposals, Europe’s influence appears limited compared to Washington…
August 13, 2025
This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the world’s most lucrative oil projects. Guyana’s Stabroek block has an estimated 11 billion barrels of oil in place discovered so far by the consortium of ExxonMobil, U.S. Hess Corp, and…
May 28, 2025
By Kolawole Ojebisi Chairman of Transcorp Group, Tony Elumelu, has identified finding permanent solution to the protracted challenge of electricity as essential to realising Nigeria's ambition to build a $1trn economy. Elumelu, who spoke on Wednesday, at the company’s Annual General Meeting held in Abuja, said access to reliable power remains the single most critical…
April 10, 2025
By Kolawole Ojebisi Founder of Heirs Energies, Tony Elumelu, has said that ramping up oil production to generate revenue is crucial to the diversification of Nigeria's economic. Elumelu said this at the Heirs Enegies leadership forum on Thursday in Abuja. He emphasised the need for massive investment in oil and gas to power the country’s…
February 22, 2025
