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…
The Chief Executive Officer, Heirs Energies, Osayande Igiehon, has reiterated the firm’s commitment to continually contribute to the country’s oil production output. This commitment, he noted, ensured that within three months of acquiring OML 17 by the firm from its previous operator in 2021 doubled production from 25,000 barrels per day to over 50,000 barrels….
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…
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…
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has called for a robust and strategic policy framework to unlock Africa’s vast gas resources and ensure energy security, economic diversification, and sustainable industrialisation. Ekpo made the call while speaking at the Nigerian International Energy Summit (NIES) in Abuja and stated that with over 600…
The Federal High Court in Yenagoa, Bayelsa State, has ruled on the disputed OML 46 which has been in contention between Halkin Exploration and Production Limited and the Bayelsa Oil Company Limited, reaffirming that the former- Halkin Exploration and Production Limited, as the rightful owner and operator of the Atala Marginal Oil Field, OML 46….
The Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company Limited (NNPCL), Malam Mele Kyari has said the country has the potential to grow more than $1 trillion Gross Domestic Product (GDP) which is the target of President Bola Tinubu. Speaking at the ongoing 2025 Nigerian International Energy Summit (NIES) in Abuja, he said $1…
