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…
Shell resumes production on its Bonga field ahead of scheduled time
Shell’s Nigerian deepwater subsidiary has resumed production at the Bonga field, one of sub-Saharan Africa’s most significant offshore oil developments, after completing a major maintenance overhaul eleven days ahead of schedule, a result that will ease pressure on Nigeria’s beleaguered crude output figures and deliver a fresh financial boost to Africa’s largest economy. Shell Nigeria…
Dangote Refinery again hikes petrol price to N1,175 per litre as crude oil surges to $100
IPMAN rejects fuel imports as Dangote Refinery denies supply disruption claims The Dangote Petroleum Refinery has reversed its recent price reduction, raising its ex-depot price for Premium Motor Spirit back to ₦1,175 per litre, a move that has prompted depot operators across the country to temporarily suspend sales transactions. A source at the refinery confirmed…
NUPRC enforces drill-or-drop rule for oil blocks
The Nigerian Upstream Petroleum Regulatory Commission has declared that the era of oil companies holding on to exploration licences for years without developing the assets is officially over, as new provisions under the Petroleum Industry Act compel operators to either develop their fields or relinquish them. The Commission Chief Executive of the NUPRC, Oritsemeyiwa Eyesan,…
Chevron Nigeria reaffirms commitment to Niger Delta
Chevron Nigeria Limited has reiterated its commitment to socio-economic development in the Niger Delta, signalling continued engagement with regional stakeholders over key infrastructure initiatives, including the proposed Escravos–Warri Road project. The company, operator of a joint venture with Nigerian National Petroleum Company Limited (NNPCL), said it remains actively involved in discussions surrounding the project and…
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…
