Oil prices jumped to their highest level since 2022 after a report that the US military is set to brief President Donald Trump on new plans for potential action in the Iran war. Brent crude rose by almost 7% to more than $126 a barrel at one point, before falling back. US Central Command has…
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 could enter 2026 on its strongest economic footing in more than a decade, according to leading economist, Bismarck Rewane. He said a combination of easing inflation, rising investment, major corporate listings and stabilising monetary conditions will propel the country into a new and more durable cycle of growth. Presenting his projections at the Parthian…
THE Association of Mega Filling Station Owners of Nigeria (AMFSON) has called for a stronger partnership between the association and the management of the Nigerian National Petroleum Company (NNPC) Limited. The Association said it can transport fuel to the 774 local government headquarters in the country at a cheaper rate in order to make the…
The Nigerian National Petroleum Corporation (NNPC Ltd.) has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country. A short statement endorsed by Chief Corporate Communications Officer at NNPC Ltd. Olufemi Soneye, and posted on its official X handle, the oil…
On Thursday, Nigeria’s Nigerian National Petroleum Company Limited (60 percent) and TotalEnergies (40 percent), the operator of Oil Mining Lease 58 onshore license in Nigeria, signed a $550 million Final Investment Decision for the development of the Ubeta gas field. Located about 80 km northwest of Port Harcourt in Rivers State, the OML 58 licence…
The $550 million final investment decision for the Ubeta Field Development Project has been announced by the NNPC-TotalEnergies JV, which is a significant step towards increasing Nigeria’s oil and gas production. This milestone, according to NNPC aligns with President Bola Tinubu’s Presidential Executive Order on Oil and Gas Reforms, designed to improve the investment climate…
As part of efforts to monetise Nigeria’s vast natural gas resources, the Nigerian National Petroleum Company Limited has executed a project development agreement with Golar LNG for the deployment of floating liquefied natural gas offshore in the Niger Delta. The signing ceremony, which took place on Monday, was attended from the NNPC Limited side by…
The Nigerian National Petroleum Company Limited and its joint venture partner in Oil Mining Lease 85, First Exploration and Petroleum Development Company Limited, have commenced oil production from the asset also known as Madu Field. Production from the field which is located in shallow waters offshore Bayelsa State and operated by First E&P is expected…
