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Cross River hosts about 35trn untapped cubic feet of gas, says Pana Holdings boss Akobo

By Obinna Uballa Cross River State holds vast untapped natural resources, including an estimated 35 trillion cubic feet (TCF) of gas and extensive solid mineral deposits, the Group Chief Executive Officer of Pana Holdings, Dr. Daere Akobo, has disclosed. Akobo made the revelation during the signing of a strategic partnership agreement between the Cross River…

Dangote: Ojulari pledges to revive NNPC’s refineries, position them for Optimum Performance

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…

FG Vows to revoke idle oil licences as Minister warns against ‘suit-wearing’ speculators

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…

US Crude Oil Inventories—and Prices—Contract

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…

EU Scrambles to Stay Relevant as Trump-Putin Alaska Summit Looms

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…

U.S. Oil Giants Fight Over Guyana’s 11-Billion Barrel Treasure Trove

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…

Electricity Must Be Fixed To Grow Nigeria’s $1trn Economy — Elumelu

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…

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Cross River hosts about 35trn untapped cubic feet of gas, says Pana Holdings boss Akobo

By Obinna Uballa Cross River State holds vast untapped natural resources, including an estimated 35 trillion cubic feet (TCF) of gas and extensive solid mineral deposits, the Group Chief Executive Officer of Pana Holdings, Dr. Daere Akobo, has disclosed. Akobo made the revelation during the signing of a strategic partnership agreement between the Cross River…

Dangote: Ojulari pledges to revive NNPC’s refineries, position them for Optimum Performance

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…

FG Vows to revoke idle oil licences as Minister warns against ‘suit-wearing’ speculators

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…

US Crude Oil Inventories—and Prices—Contract

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…

EU Scrambles to Stay Relevant as Trump-Putin Alaska Summit Looms

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…

U.S. Oil Giants Fight Over Guyana’s 11-Billion Barrel Treasure Trove

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…

Electricity Must Be Fixed To Grow Nigeria’s $1trn Economy — Elumelu

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…

Unlocking Opportunities in the Gulf of Guinea during UNGA80
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