French oil group, TotalEnergies, said on Monday it was selling a 40-per cent stake in Nigerian offshore exploration licences to a subsidiary of US giant, Chevron. TotalEnergies signed an agreement to sell its stake in licences for two areas covering 2,000 square kilometres in the West Delta basin to Star Deep Water Petroleum Limited, subject…
The Organisation of the Petroleum Exporting Countries (OPEC) has maintained Nigeria’s crude oil production quota at 1.5 million barrels per day (bpd) until December 2026, reaffirming a previous decision taken in late 2024. The extension was announced after the 40th OPEC and non-OPEC Ministerial Meeting held on Sunday, where members agreed to retain overall production…
Dangote Petroleum Refinery will supply 50 million litres of petrol per day into the Nigerian market. The decision was taken to ensure that there is no shortage of the product during the festive season, the company said yesterday. This translates to 1.5 billion litres of Premium Motor Spirit (PMS) for the month of December. The…
Heineken Lokpobiri, Nigeria’s Minister of Petroleum Resources (oil) has announced that the Africa Energy Bank was ready to take off, with the completion of the facility dedicated for its use. Nigeria, in July 2024 was declared winner of the hosting right for the establishment of the bank’s headquarters after it competed with Ghana, Algeria, South…
.Olayemi Cardoso, governor of the Central Bank of Nigeria, on Friday, laid out the bank’s strategic priorities for 2026, declaring that the coming year will be defined by efforts to strengthen the banking system, protect depositors, deepen financial stability, modernise payments, and reinforce Nigeria’s economic resilience. Speaking at the Bankers’ Dinner organised by the Chartered…
OPEC+ is likely to leave oil output levels unchanged at its meetings on Sunday and to agree on a mechanism to assess members’ maximum production capacity, said by two delegates to Reuters The eight OPEC+ countries which have been gradually raising output in 2025 are expected to keep their policy to pause hikes in the…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is set to auction 50 oil and gas blocks spanning multiple basins and terrains as part of its 2025 petroleum licensing initiative. The move represents a significant push to attract fresh capital into Nigeria’s upstream petroleum sector under the framework established by the Petroleum Industry Act (PIA) 2021….
Nigeria LNG Limited (NLNG) and the Nigerian Content Development and Monitoring Board (NCDMB) engaged in productive discussions towards collaboration in support of NLNG’s planned revamp and enhancement of key operational facilities in Trains 1 to 6 of the NLNG Plant. The initiative is aimed at improving asset performance and overallSophia Horsfall,General Manager, External Relations and…
As the women in Energy Network, WIEN, inaugurates a new leadership and celebrate the legacy of incredible impact in five years of its inception, the organisation calls on women across the energy value chain to connect with the platform to grow and shape the future of the energy sector. The president of WIEN, Mrs. Eyono…
NNPC Limited declares its financial performance for the full year ended2024, reporting a Profit After Tax of ₦5.4 trillion on revenue of ₦45.1 trillion. This was contained in a statement by the Chief Corporate Communications Officer, Andy Odeh to the media. Building on this performance, the Company unveiled its strategic roadmap to drivesustained growth and…
