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Dangote assures of petrol price stability

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…

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Savannah Energy posts 19% revenue growth

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…

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Protesting host communities urge Oriental Energy on compliance with NOGIC Act

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…

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NMDPRA: Trump’s tariff fueling oil market volatility

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…

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Walcot Group signs contract with Angola to operate oil blocks

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…

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Nigeria to shop for gas investors in China

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…

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‘Shell’s $2.4b asset acquisition significant milestone’

The recent completion of the acquisition of Shell Petroleum Development Company’s (SPDC) asset in Nigeria by the Renaissance Africa Energy Company, a consortium of ND Western, Aradel Holdings Plc, First Exploration and Petroleum Development Company Limited, Waltersmith Group and an international energy company, Petrolin Group, has been described as a “historic and the beginning of…

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NCDMB pushes for unified local content framework for continental cooperation

Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has advised oil and gas industry stakeholders in Africa to institute an Africa-wide local content framework that would harmonise policies and foster cross-border partnerships. He said such a framework would allow African nations to leverage collective strengths for mutual prosperity, arguing that…

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