Oando Plc has sealed a $650 million deal with Nigerian Agip Oil Company, backed by risk management solutions from AfrexInsure, the speciality insurance subsidiary of the African Export-Import Bank. The agreement further strengthens the business relationship between Oando and Afreximbank, ensuring the company’s investment in Nigeria’s energy sector is safeguarded through tailored insurance solutions. A…
Many Nigerians face daunting social and economic challenges against the backdrop of renewed importation of petroleum products in the country, nearly six months after the practice was officially suspended. Lately, there were concerns about the far-reaching impact on the nation’s foreign reserves which would ultimately push the naira into deeper depreciation and stoke inflation. There…
The Federal Government, through the Ministry of Petroleum Resources, has officially endorsed the Gas Investment Forum (GIF) 2025, scheduled to take place on October 7-8, 2025, in Lagos. In a letter confirming the endorsement, Mrs. Ruth Nunghe, Director (Gas) of the Ministry of Petroleum Resources, reaffirmed government’s commitment to leveraging GIF 2025 as a strategic…
Seplat Energy reaffirmed its leadership in driving gender equity in STEM at the Society of Petroleum Engineers Women Leadership Lecture Series (SPEWLLS) 2025, themed “March Forward: Advancing Equity and Creating Opportunities in STEM and Beyond”. The event which held on March 21, 2025 at the Capital Club, Victoria Island Lagos brought together industry leaders, changemakers,…
The program for the 2025 edition of the Offshore Technology Conference (OTC) under the Nigerian Pavilion powered by the Petroleum Technology Association of Nigeria (PETAN) on behalf of the Nigerian National Petroleum (NNPC) Ltd. and the Federal Ministry of Petroleum Resources has been announced by the Association. Under the Central Theme: “Africa’s Energy Renaissance: Leveraging…
Dangote Petroleum Refinery has temporarily halted the sale of petroleum products in Naira. According to a statement by the management, the decision is necessary to avoid a mismatch between its sales proceeds and crude oil purchase obligations, which are currently denominated in U.S. dollars. “To date, our sales of petroleum products in Naira have exceeded…
The federal government has commissioned Nigeria’s first modular Liquefied Petroleum Gas (LPG) extraction plant and a 20-megawatt gas-to-power project. The projects were commissioned by the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo at the Otakikpo field in Rivers State. In a post on his official X account, the minister said the…
The Nigerian National Petroleum Company Limited (NNPC Ltd) has refuted reports of an explosion at the Port Harcourt Refining Company (PHRC) in Rivers State. The company clarified that what occurred was a flare incident, which has since been fully contained. There is no danger or health hazard to staff, the surrounding communities, or the environment….
An explosion has struck the Trans-Niger Pipeline, one of Nigeria’s largest oil pipelines, causing significant disruption and raising concerns about environmental damage and economic losses. The incident, which occurred in Rivers State, is the latest in a series of political crises plaguing the country’s oil infrastructure. The explosion, reported late Monday evening sent plumes of…
Amid speculations that Nigeria exported 300 trucks of the Premium Motor Spirit (PMS) to the Niger Republic, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian National Petroleum Company Limited (NNPCL) and Nigeria Customs Service (NCS) said yesterday they were oblivious of the development. NMDPRA’s Head of Public Affairs George Ene-Ita, NNPCL’s Chief Corporate…
