TotalEnergies EP Nigeria has entered into a Sale and Purchase Agreement with Vaaris for the divestment of its 10 per cent non-operated interest in the Renaissance Joint Venture (JV) licences in Nigeria. The Renaissance JV, formerly known as the Shell Petroleum Development Company of Nigeria (SPDC) JV, is an unincorporated partnership made up of the…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will on January 14, this year determine its procedures for the assessment of the 2025 Licensing Round. This was contained in the announcement of Lagos pre-bid conference the commission issued yesterday. NUPRC said: ” The focus areas of the upcoming pre-bid conference include: The implementation timetable, the bid…
Desirous of enhancing energy security and economic growth, the Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Saidu Aliyu Mohammed, alongside members of his management team, has paid a courtesy visit to the Nigerian Electricity Regulatory Commission (NERC) in Abuja. According to a post on the X, formerly Twitter, handle of the…
Non-member states of the Organisation of Petroleum Exporting Countries called OPEC+ opted for caution on Sunday, keeping its oil output policy unchanged after a short, tightly focused meeting that deliberately avoided the mounting political crises involving several of its members. The decision points to how the alliance is navigating one of its most complex operating…
Oil markets have recorded their steepest annual fall since the COVID pandemic and could be on track to plummet further as oil producers continue to pump more crude than needed by the global economy. Oil prices slumped by almost 20per cent in 2025, marking the biggest annual loss since 2020 and the first time that…
President Bola Tinubu has approved the cancellation of $1.42 billion and N5.57 trillion ($3.85 billion) in debts owed by state oil firm NNPC Ltd to the government, the Presidency said on Monday. The decision is part of Tinubu’s push to clean up NNPC’s books and boost transparency as Africa’s top oil producer deals with weak…
State-owned energy company of top African oil producer Nigeria, the Nigerian National Petroleum Company (NNPC) Limited plans to sell stakes in some of its oil and gas assets and has called for bids, according to an invitation document seen on Monday. NNPC owns some assets outright and others in partnership with international oil companies, including…
Nigeria and other African countries’ crude oil demand is set to more than double to 4.5 million barrels per day (bpd) by 2050 and will need more than $100 billion in investment in refining over the next decades, according to the African Refiners and Distributors Association (ARDA). Thanks to population growth, urbanization, and industrialization, Africa’s…
The House of Representatives Joint Committee on Petroleum Resources (Downstream and Midstream) stepped into the crisis between Dangote Refinery Group founder, Alhaji Aliko Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The joint committee has invited both parties to present the grievances before the joint committee for immediate resolution and appealed to…
