The Managing Director of Renaissance Africa Energy Company Limited, Engr. Tony Attah has predicted that many indigenous oil and gas operators in Nigeria will within the next decade consolidate strategically and form consortiums to take advantage of emerging opportunities. He stated this when he made a presentation at the Nigerian Content Academy Lecture on Thursday,…
OPEC on Sunday agreed to boost oil production by another 206,000 barrels daily, which will be theoretical only as production in the Middle East remains constrained by the Strait of Hormuz crisis. The move was expected, with reports saying the eight OPEC members that are managing their production stand ready to start adding barrels quickly…
In keeping with its mandate, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, is committed to improving upstream sector performance, enhancing the growth of oil and gas reserves, and ensuring stable production for shared prosperity via operationalisation of the Petroleum Industry Act, 2021 (PIA), and implementation of the strategic pillars of the Commission. The commission’s spokes…
The Federal Government and power generation companies have disagreed over the reconciliation of debts in Nigeria’s electricity market, with both sides offering differing accounts of the actual liabilities owed to the GenCos. The Minister of Power, Adebayo Adelabu, said the actual debt owed to generation companies may be significantly lower than widely reported, as ongoing…
The Nigerian Electricity Regulatory Commission (NERC) has inaugurated a new forum aimed at enhancing coordination and effectiveness in electricity regulation across Nigeria. The forum was inaugurated during the first quarter 2026 Regulatory Meeting with State Electricity Regulators (SERs) in Lagos. This was disclosed in a statement shared on X by NERC on its official handle…
The Central Bank of Nigeria has approved the full repatriation of export proceeds by international oil companies, allowing them unrestricted access to 100 per cent of their foreign exchange earnings through authorised dealer banks. This is a significant departure from the phased framework that has governed their forex access since 2024. The directive, contained in…
The Nigerian National Petroleum Company (NNPC) Limited has thrown its weight behind Executive Order 9, arguing that it will improve financial transparency in the energy sector. NNPC Limited’s Group Chief Executive Officer (GCEO), Bayo Ojulari, said this on the sidelines of the CERAWeek by S&P Global in Houston, United States. “Regarding Executive Order 9, the…
Esso Exploration and Production Nigeria Limited, an affiliate of ExxonMobil, broke ground Tuesday on a permanent Shore Base facility at the Lagos Deep Offshore Logistics Base, becoming the first international oil company to fully fund the construction of such infrastructure within Nigeria’s premier deepwater logistics hub. The ceremony at LADOL’s Apapa Port complex drew senior…
The Executive Secretary ofthe Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has expressed confidence that the five-star Radisson Hotel and Conference Centre, Yenagoa, Bayelsa State, would be completed and commissioned in December 2026, just as South Africa’s Edison Corporation, incorporating Radisson Hotels Group, assured of world-class services. Addressing visiting top executives…
The Federal Government said it has progressed in its plan on the proposed transcontinental gas pipeline aimed at delivering its vast natural gas to European markets. The proposed pipeline, still at an early development stage, is being advanced by a consortium of global industry players and will be subject to extensive technical, commercial, and regulatory…
