Energy Sector
Global Markets Decline as Middle East Tensions Drive Oil Price Surge
Global financial markets moved lower as rising tensions in the Middle East pushed oil prices higher, triggering widespread concern among investors. Major indices...
Gas Shortage Behind Nigeria Lingering Power Outages, System Operator Says
Nigeria lingering power outages are primarily the result of inadequate gas supply to thermal power plants, the Nigerian Independent System Operator announced on...
Iraqi Cabinet Approves Settlement With Russia’s Lukoil Over Oil Field Operations Transfer
Iraq’s cabinet has approved a negotiated settlement with Lukoil aimed at resolving outstanding disputes related to the transfer of operations at a major...
Former Ukrainian Energy Minister Detained at Border on Security Related Charges
Authorities in Ukraine confirmed that a former energy minister was detained at a border crossing on security related charges as part of an...
Egypt Announces Significant Oil and Gas Discoveries in Western Desert
Egypt’s Ministry of Petroleum confirmed the discovery of substantial new oil and natural gas reserves in the Western Desert, marking a notable development...
Otedola Predicts Naira Could Trade Below 1000 to Dollar as Dangote Refinery Hits Full Capacity
Billionaire businessman Femi Otedola has expressed strong optimism that the naira could appreciate to trade below 1000 to the dollar before the end...
NNPC Spent N13.2tn on State Refineries Despite Mounting Losses
The Nigerian National Petroleum Company Limited injected an estimated N13.2 trillion into the country’s three state owned refineries between 2023 and 2024, despite...
NNPC Plans Equity Partnerships to Revive State Refineries as Dangote Offers Supply Relief
Nigeria’s long troubled state owned refineries with a combined capacity of 445000 barrels per day may be headed for a reset as the...
Nigeria’s Electricity Generation Stagnates at 5000MW as NMDPRA Calls for Improved Gas Supply
The Nigerian Midstream and Downstream Petroleum Regulatory Authority NMDPRA has raised concerns over the slow progress of the country’s electricity generation over the...
Nigeria’s Oil and Gas Stakeholders Urge Innovation, Value Creation Amid Tax Reforms
Stakeholders in Nigeria’s oil and gas industry have highlighted the potential of recent fiscal reforms, particularly the Nigeria Tax Act 2025, to unlock...
