Shell declares force majeure to clients who buy Qatari LNG:
Shell, the world’s largest liquefied natural gas trader, has declared force majeure on LNG cargoes…
Japan promises 80 million barrels of oil to support 400 million-barrel global intervention
An unprecedented 400 million barrels of stockpiled oil will be released into the market by 32 countries, including Japan, the International Energy Agency said Wednesday, as the war in the Middle East threatens supply and rattles markets.Investors remain unconvinced by the move. “The oil market challenges we are facing are unprecedented in scale, therefore I…
Shell declares force majeure to clients who buy Qatari LNG:
Shell, the world’s largest liquefied natural gas trader, has declared force majeure on LNG cargoes it buys from QatarEnergy and sells to its clients worldwide, three sources told Reuters Qatar, the world’s second-largest exporter of LNG, announced a production halt at its 77 million tons per annum (mtpa) facility last week and declared force majeure…
NMDPRA Grants Six Permits for Petrol Importation to Ensure Market Stability.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has granted import permits for petrol to six depot owners and petroleum marketers. Industry insiders view this as a strategic step by the Federal Government to ensure stability and balance in the country’s downstream fuel sector. According to multiple sources in the industry, the regulator recently…
Nigeria rolls out $750 million mini-grid solar initiative
Nigeria has launched an ambitious $750 million renewable electrification programme aimed at expanding electricity access through solar mini-grids and off-grid power systems, a move officials say could unlock over $1.1 billion in private investment and reshape the country’s energy landscape. The initiative, being implemented by the Rural Electrification Agency (REA), is expected to deploy 1,350…
Tinubu approves FID, $20B Deepwater Investment for Bonga Southwest project
President Bola Ahmed Tinubu has approved a targeted fiscal incentive designed to unlock the long-awaited Final Investment Decision (FID) for the Bonga Southwest Aparo (BSWA) deepwater project. The move, which is expected to attract about $20 billion in Foreign Direct Investment (FDI), positions Nigeria for a new era of deepwater production. This development was confirmed…
Nigeria has suspended gasoline import licenses
Nigeria has suspended the issuance of gasoline import licenses, a move that strengthens the position of billionaire Aliko Dangote, owner of Africa’s largest petroleum refinery, who has long argued that fuel imports are no longer necessary. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that nearly all the gasoline supplied in…
Tinubu Inaugurates 11-man Committee on Grid Asset Management Company
President Bola Tinubu on Friday constituted an 11-member committee to ensure a hitch-free incorporation of the Grid Asset Management Company Limited (GAMCO). The inauguration of the high powered committee came barely 48 hours after the Federal Executive Council (FEC), at its inaugural meeting in 2026, approved the memo presented by the president for the establishment…
The Attorney-General of the Federation, Lateef Fagbemi (SAN), has assumed control of the prosecution of a former AGF, Abubakar Malami (SAN), and his son, Abdulaziz, over alleged terrorism-related offences and unlawful possession of firearms.
The development emerged on Wednesday at the Federal High Court in Abuja when the Director of Public Prosecutions of the Federation, Mr Rotimi Oyedepo (SAN), informed the court that the case file had been transmitted from the Department of State Services to the Office of the Attorney-General of the Federation.
NCDMB, Radisson, Edison Sign Management Deal for Yenagoa Hotel
The Nigerian Content Development and Monitoring Board (NCDMB) on Monday signed an international management agreement (IMA) with Radisson Hospitality Belgium, and Edison Hotel and Property Development Company, in respect of the Board’s 204 rooms hotel and conference center, developed adjacent the Nigerian Content Tower, Swali, Yenagoa, Bayelsa State. According to the Manager, Corporate Communications Division,…
TotalEnergies transfer OLO Oilfield host community obligation to Aradel
In pursuit of the Petroleum Industry Act (PIA), TotalEnergies has handed over the OLO Oilfield Host Community Development Trust (HCDT) to Aradel Holdings Plc. This transition follows Aradel’s earlier acquisition of the Olo and Olo West marginal fields (formerly part of OML 58) from the TotalEnergies/NNPCL Joint Venture. The handover, which took place in Abuja…
