The Federal Government has said it remained committed to deploying innovative and fiscally responsible financing strategies to optimise Nigeria’s oil assets, enhance external liquidity, and strengthen macroeconomic stability. The government made the clarification as conversations continue around a proposed crude-for-loan arrangement with Saudi oil giant, Aramco. In a statement, the Federal Ministry of Finance addressed…
Vice-President Kashim Shettima has said Nigeria is pursuing a $25 billion undersea gas pipeline project aimed at supplying natural gas to Europe through the West African coastline. Mr Shettima disclosed this during a meeting with Vitol Group, the world’s largest independent commodity trader, at the Presidential Villa in Abuja. The Nigeria-Morocco gas pipeline project will…
The Association of Nigerian Refineries Petroleum Marketers (ANRPM), in conjunction with its Board of Trustees, has hailed President Bola Tinubu, on his second anniversary in office. The association noted that over the period, Nigeria has witnessed notable strides across various sectors, driven by visionary leadership, including a renewed focus on the blue economy. In a…
Despite the fluctuations in global crude oil prices, Dangote Petroleum Refinery and Petrochemicals, yesterday assured that it will ensure a stable price of the commodity. The company, in a release, signed its Group Chief Branding and Communications Officer, Anthony Chiejina, said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian…
Savannah Energy Plc has announced its unaudited trading update for first quarter (Q1) 2025; revealing a 19 per cent year-on-year increase in total revenue to $73.3 million, up from $61.4 million in Q1 2024. This growth was driven by the successful acquisition of Sinopec International Petroleum Exploration and Production Company Nigeria Limited (SIPEC) and expansion…
Host communities of Oriental Energy Resources Ltd (OERL) have urged the oil company to comply with Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, specifically the Community Content Guidelines. Representatives of the Effiat/Mbo host communities in Akwa Ibom State, Committee for the Defense of Human Rights (CDHR), in a petition, averred that the…
The global crude oil market continues its turbulent descent, driven largely by the unpredictable tariff regime of United States (U.S) President Donald Trump, with rippling effects now hammering Nigeria’s oil-dependent economy, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Speaking at the State House yesterday during the Meet-the-Press series organised by the…
Nigerian-led energy company, Walcot Group, has signed a Production Sharing Contract (PSC) with the Angolan National Agency for Petroleum, Gas, and Biofuels (ANPG) to operate oil blocks. The agreement followed the company’s successful bid for three oil blocks in a competitive international licensing round, marking a significant step in its mission to expand its footprint…
The Nigerian Gas Association (NGA) said it plans to showcase Nigeria’s gas sector progress, highlight investment-ready opportunities, and promote strategic interests under the “Decade of Gas” initiative at the 29th World Gas Conference (WGC2025), scheduled to take place in Beijing, China from May 19–23. Speaking during a media engagement in Lagos, the NGA President, Akachukwu…
