Seplat Energy Plc has completed the conversion of its operated onshore assets to the Petroleum Industry Act fiscal regime, replacing the former Petroleum Profit Tax framework, in a move expected to support improved profitability and operational efficiency. The company disclosed in a notice filed on the Nigerian Exchange Limited on Tuesday that its subsidiaries, Seplat…
Seplat Energy says Saidu Mohammed has withdrawn his acceptance of its board appointment over his recent appointment as chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). On December 17, the company announced the appointment of Mohammed as an independent non-executive director, effective January 1. On the same day, President…
Vows Bold Reforms to Boost Nigeria’s Upstream Oil & Gas Sector Mrs. Oritsemeyiwa Eyesan has officially taken charge as the Commission Chief Executive (CCE) of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Eyesan, whose nomination by President Bola Ahmed Tinubu was confirmed by the Senate earlier in December following the resignation of the previous CCE,…
Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony O. Elumelu, CFR, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman…
Commends Dangote for its affordable petrol products The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on all its members nationwide to patronise the Dangote Refinery in their purchase of PMS products, noting that the refinery already offers the best affordable price for all marketers, even as free delivery commences in January 2026. The…
Conoil Plc has closed the 2024 financial year on a confident note, announcing a proposed dividend payout of ₦2.428 billion to shareholders. The dividend, set at 350 kobo per 50 kobo ordinary share, was presented at the Company’s 55th Annual General Meeting held on Friday, 19 December 2025, reinforcing Conoil’s steady performance in a demanding…
The Coalition of Civil Society for Transparency in the Extractive Industry, CCSTEI, has lauded the Nigerian National Petroleum Company Limited, NNPCL, under Group Chief Executive Officer, GCEO, Bayo Ojulari, for the milestone recorded by NNPC Exploration and Production Limited, NEPL, the upstream subsidiary, which hit a daily crude oil output of 355,000 barrels on December…
The Women in Energy Network (WIEN), a leading advocate for gender balance in energy sector leadership, has commended President Bola Ahmed Tinubu for appointing Oritsemeyiwa Eyesan as Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). In a statement congratulating Eyesan, WIEN President, Mrs Eyono Fatayi-Williams, said the appointment is both inspiring and historic,…
*Urge new NMDPRA chief to prioritise national interest The Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday opposed the uncontrolled importation of petroleum products as well as what it described as the ‘reckless’ issuance of import licenses by the downstream/midstream regulator. In a briefing in Abuja on recent happenings in the sector, National President of…
Outgoing Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has dismissed allegations that he spent about $5 million on his children’s education abroad, insisting that his income, scholarships and family support fully account for the expenses. This was as Senator Adams Oshiomhole (APC, Edo North) has revealed that…
