Category: Media
The Nigerian National Petroleum Company Limited (NNPCL), in partnership with TotalEnergies and South Atlantic Petroleum (Sapetro), has signed a landmark Production Sharing Contract (PSC) for deepwater petroleum prospecting licences PPL 2000 and 2001—spanning approximately 2,000 square kilometers in the Niger Delta Basin. This agreement marks the first of its kind under the Petroleum Industry Act […]
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has officially appointed Mr. Andy Odeh as its new Chief Corporate Communications Officer, alongside Mrs. Morenike Adewunmi as Chief Relations Officer. The announcement was made in a company statement released earlier this week. Profile of Andy Odeh: Brings over 30 years of communications and business administration experience […]
Nigerian crude oil blends recorded a strong performance in international markets this week, with Bonny Light and Brass River trading above $71 per barrel during mid-week sessions. The price surge reflects sustained demand for Nigeria’s light, sweet crude, which remains attractive to refiners due to its low sulfur content and high yield of premium petroleum […]
The Bureau of Public Enterprises (BPE) has confirmed plans to launch an Initial Public Offering (IPO) for two electricity Distribution Companies (DisCos) and one Generation Company (GenCo) on the Nigerian Stock Exchange. The announcement comes as part of the federal government’s broader strategy to deepen private-sector participation in the power industry and raise critical funding […]
The Presidential Compressed Natural Gas Initiative (PCNGI) has formally refuted claims that the federal government removed subsidies or directed an increase in Compressed Natural Gas (CNG) pump prices, clarifying that recent price hikes are the consequence of decisions made by private operators. Matilda Johnson, PCNGI’s Brands and Corporate Communications Manager, emphasized: “For absolute clarity: while […]
The Dangote Refinery has achieved a historic milestone by exporting its first gasoline shipment to the United States, signaling Nigeria’s emergence as a global player in refined petroleum products. The cargo, estimated at 300,000 barrels, was transported aboard the vessel Gemini Pearl and is expected to arrive on the U.S. East Coast. Industry sources suggest […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has emphasized that a newly signed Production Sharing Contract (PSC) with TotalEnergies marks a major turning point in Nigeria’s energy trajectory—specifically in its shift toward a gas-powered economy. Key Highlights: First PSC Under PIA with Gas Focus: The PSC between NNPCL, TotalEnergies, and Sapetro, covering 2,000 square kilometers […]
In a significant diplomatic development, Nigerian President Bola Tinubu has announced the imminent return of Brazil’s state-owned oil company, Petrobras, to Nigeria. This move marks a pivotal step in revitalizing bilateral relations between the two nations. Petrobras had previously suspended its joint venture operations in Nigeria five years ago but is now poised to re-enter, […]
The Federal Government has officially implemented a uniform retail price of ₦380 per Standard Cubic Metre (SCM) for Compressed Natural Gas (CNG) in Lagos and Abuja, effective from September 1, 2025. This harmonization brings both major cities in line with the pricing already adopted nationwide. Context & Background Previously, CNG prices in Lagos and Abuja […]
Elektros Inc. has announced the discovery of substantial lithium resources in Africa, a critical component for electric vehicle batteries and renewable energy storage. This discovery positions Africa as a key player in the global energy transition.