Nigerian Oil Industry Leaders Demand 3 Million Barrel Crude Reserve for Domestic Refineries
Nigerian Oil Industry Leaders Demand 3 Million Barrel Crude Reserve for Domestic Refineries The Petroleum Products Retail Outlets Association of Nigeria (PETROAN) has called for urgent government action to establish a sustainable crude oil supply framework for local refineries, proposing a strategic reserve of 3 million barrels annually for domestic processing facilities. PETROAN National President […]
ExxonMobil and Partners Secure Strategic Block 17 Extension in Angola’s Offshore Waters
ExxonMobil and Partners Secure Strategic Block 17 Extension in Angola’s Offshore Waters Energy giant ExxonMobil has successfully negotiated a production sharing contract extension for Block 17 offshore Angola, solidifying the consortium’s commitment to maximizing value from mature oilfields in the region. The renewed agreement includes partners TotalEnergies, Equinor, Azule Energy (a bp-Eni joint venture), and […]
Egypt’s Khalda Petroleum Set to Boost Production with Two New High-Yield Wells This Month
Egypt’s Khalda Petroleum Set to Boost Production with Two New High-Yield Wells This Month Khalda Petroleum is preparing to bring two promising new wells online in June 2025, with combined initial production estimated at 5,400 barrels of crude oil per day. The development represents a significant boost to Egypt’s domestic oil production capabilities as part […]
Nigerian Oil Prices Surge Toward $80 as Middle East Tensions Explode
Nigerian Oil Prices Surge Toward $80 as Middle East Tensions Explode Nigeria’s flagship crude oil grades are approaching the crucial $80 per barrel threshold as escalating conflict between Israel and Iran sends shockwaves through global energy markets. Brent crude futures jumped nearly 8% on Friday following Iran’s vow to retaliate against Israeli attacks. The geopolitical […]
NNPC Eyes Massive Investment Blitz with Five Major Project Decisions by Year-End
NNPC Eyes Massive Investment Blitz with Five Major Project Decisions by Year-End Nigeria’s state oil giant NNPC Ltd has announced an ambitious strategy to finalize investment decisions on five critical energy projects worth hundreds of millions of dollars by the fourth quarter of 2025. The announcement signals a major strategic shift under the company’s new […]
Nigeria’s Oil Production Plummets to 1.65 Million Barrels Daily as OPEC Quota Remains Elusive
Nigeria’s Oil Production Plummets to 1.65 Million Barrels Daily as OPEC Quota Remains Elusive Nigeria’s crude oil production has suffered another significant decline, dropping to 1.657 million barrels per day in May 2025, down from 1.683 million barrels recorded in April. The Nigerian Upstream Petroleum Regulatory Authority (NUPRC) confirmed the concerning trend on Friday, revealing […]
South Africa Leads Continental Green Hydrogen Revolution with Massive R1.49 Billion Investment
South Africa Leads Continental Green Hydrogen Revolution with Massive R1.49 Billion Investment South Africa is spearheading Africa’s green hydrogen transformation with a staggering R1.49 billion investment in its Hydrogen South Africa program, as President Cyril Ramaphosa announced that the continent is advancing 52 large-scale projects representing billions in total investment potential. Speaking at the inaugural […]
Tanzania Races to Finalize $42 Billion LNG Deal with Global Energy Giants by October
Tanzania Races to Finalize $42 Billion LNG Deal with Global Energy Giants by October Tanzania is accelerating high-stakes negotiations with international energy majors Shell, Equinor, and ExxonMobil for a massive $42 billion Tanzania LNG facility, with Deputy Minister of Energy Doto Mashaka Biteko announcing the government’s target to finalize the agreement by October 2025. The […]
Perenco Launches Revolutionary $200 Million Recycled Platform Project Off Congo Coast
Perenco Launches Revolutionary $200 Million Recycled Platform Project Off Congo Coast Anglo-French oil giant Perenco is pioneering sustainable offshore operations with a groundbreaking $200 million project that transforms a recycled mobile offshore production unit for deployment off Congo’s coast. The converted platform, dubbed Kombi 2, represents a revolutionary approach to environmentally conscious resource development. Construction […]
Nigeria Achieves 97% of OPEC Production Quota Despite Slight Monthly Decline
Nigeria Achieves 97% of OPEC Production Quota Despite Slight Monthly Decline The Nigerian Upstream Petroleum Regulatory Commission reported that Nigeria produced 97% of its 1.5 million barrels per day OPEC quota in May 2025, representing a slight 2% decline from April’s 99% output. The country’s combined crude oil and condensate production totaled 1.81 million barrels […]