OIL AND GAS

The Nigerian National Petroleum Company Limited has restored the Escravos–Lagos Pipeline System to full operations, weeks after an explosion disrupted gas supply along the critical infrastructure corridor in Delta State. NNPC NNPCL Chief Corporate Communications Officer, Andy Odeh said on Monday in a statement that the pipeline, which suffered an unexpected explosion on December 10,…

Nigeria National Petroleum Company (NNPC) is in discussions to secure $2 billion in financing for critical pipeline infrastructure repairs, marking the latest step in an ambitious capital-raising campaign designed to revive the country’s flagging petroleum sector. NNPC is negotiating the financing with Nexus Alliance, a firm specialising in pipeline infrastructure support, people familiar with the…

The NNPC has completed welding the main line of the pipeline, including the critical River Niger crossing – a feat that has stalled progress for years. Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, accompanied by the Group Chief Executive Officer, NNPC Limited, Engr. Bashir Bayo Ojulari, and the Company’s Executive Vice…

President Bola Ahmed Tinubu has authorized the cancellation of significant debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, erasing obligations totaling $1.42 billion and ₦5.57 trillion. The decision follows a detailed reconciliation between government agencies aimed at resolving long-standing financial discrepancies. The approval was documented by the Nigerian…

The NNPC Limited has concluded plans to sell stakes in some of its oil and gas assets and has invited bids from interested parties. The general secretary of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Jerry Amah, confirmed the development to Reuters. According to Reuters, the company announced the call for bids…

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Seplat Energy says Saidu Mohammed has withdrawn his acceptance of its board appointment over his recent appointment as chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum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…