OANDO COMPLETES CRUCIAL PIPELINE REPAIRS FOLLOWING MULTIPLE OIL SPILLS IN BAYELSA STATE
Oando Plc, the indigenous energy firm that acquired Nigeria Agip Oil Company, has successfully completed repair works on ruptured pipelines following four operational oil spills recorded since October 2024. The repairs addressed incidents along the NNPC Exploration and Production Ltd/Oando pipeline in Bayelsa State, including a May 3 spill around Oando’s Ogboinbiri flow station in […]
LIBYA’S OIL LOGISTICS PARALYZED AS CEASEFIRE COLLAPSES AND TRIPOLI VIOLENCE INTENSIFIES
Libya’s oil sector is facing renewed disruptions after intense fighting resumed in Tripoli just hours after officials declared a ceasefire. The Sirte Oil Company, a key state-run energy operator, has suspended all land-based fuel and material transport operations due to escalating security concerns in western Libya. The capital erupted in violence following the assassination of […]
NIGERIA TURNS TO MINI-LNG AND FLOATING SOLUTIONS TO REVIVE GAS EXPORT AMBITIONS
Nigeria is increasingly embracing floating LNG (FLNG) and mini-LNG projects as strategic alternatives to overcome infrastructure challenges and fully capitalize on its vast gas resources, according to analysts at Rystad Energy. Despite holding significant gas reserves, Nigeria has experienced a drastic decline in LNG production efficiency, dropping from 90 percent in 2018 to just 60 […]
GHANA PLUMMETS IN AFRICAN FUEL PRICE RANKINGS DESPITE STABLE CURRENCY
Ghana has experienced a dramatic drop in its ranking among African countries with the lowest fuel prices, falling to 20th position from 13th position despite recent stability in the Ghanaian cedi against major foreign currencies. According to GlobalPetrolPrices.com, Ghana’s average petrol price of $1.211 per liter in May 2025 now ranks it 77th globally, down […]
NIGERIA ATTRACTS $8 BILLION ENERGY INVESTMENT WINDFALL IN JUST ONE YEAR
Nigeria has secured over $8 billion in investments for deepwater and gas projects within a single year, according to Olu Verheijen, Special Adviser to President Bola Tinubu on Energy. Speaking at the 2025 Africa CEO Forum in Abidjan, Côte d’Ivoire, Verheijen attributed this remarkable achievement to comprehensive government reforms that have transformed Nigeria’s investment landscape. […]
TURKEY’S STATE ENERGY FIRM MAKES HISTORY WITH FIRST INTERNATIONAL FSRU DEPLOYMENT TO EGYPT
In a landmark development for Turkey’s growing energy influence, the country’s state firm Turkish Petroleum Pipeline Corporation (BOTAŞ) will deploy a Floating Storage and Regasification Unit (FSRU) abroad for the first time under a new agreement with Egypt’s state energy firm EGAS. The historic announcement came during a meeting between Turkish Energy and Natural Resources […]
BRAZILIAN OIL GIANT PETROBRAS PLOTS COMEBACK TO NIGERIA’S DEEPWATER SECTOR
Brazilian state oil company Petrobras is actively pursuing a return to Nigeria’s oil sector, focusing on frontier deepwater exploration as part of strengthened bilateral relations between the countries. The company, which previously operated at Nigeria’s Agbami Field before withdrawing, now sees fresh opportunities amid economic reforms under President Bola Tinubu’s administration. The development emerged during […]
ETHIOPIA STRIKES GOLD WITH $1.6 BILLION IN ENERGY AND MINERAL INVESTMENT DEALS
Ethiopia has secured over $1.6 billion worth of investment agreements in its energy and minerals sectors, primarily with Chinese companies, following the conclusion of the Invest in Ethiopia High-Level Business Forum 2025. The landmark deals include a $500 million commitment from China’s Huawei Mining Processing Company Limited for mineral exploration and development of a minerals-focused […]
NIGERIA MAINTAINS CROWN AS AFRICA’S TOP OIL PRODUCER IN APRIL
Nigeria has successfully defended its position as Africa’s largest oil producer in April, according to OPEC’s latest monthly report. Production rose to 1.48 million barrels per day (bpd), up from 1.4 million bpd in March, outpacing Algeria’s 912,000 bpd and Congo’s 270,000 bpd. The increased output represents 99 percent of Nigeria’s 1.5 million bpd OPEC […]
IRANIAN NUCLEAR DEAL TALKS SEND NIGERIAN CRUDE PRICES TUMBLING
Nigerian crude oil prices have dropped significantly amid reports that Iran is ready to negotiate a nuclear deal with U.S. President Donald Trump, settling at approximately $68.34 on Tuesday – well below the Federal Government’s budget benchmark for 2025. The bearish outlook intensified as Brent oil futures for June delivery fell to $65 per barrel, […]