NARTO warns that banning 60,000-liter fuel tankers could result in N300 billion in losses. The association urges the government to find a balanced solution.
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Elliott Management has acquired a 5 percent stake in BP and is urging the company to sell assets and cut costs to boost profitability.
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BP announces a major strategy reset as profits fall by 35 percent, with CEO Murray Auchincloss promising cost cuts and improved financial performance.
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Estonia, Latvia, and Lithuania have fully disconnected from Russia’s power grid and joined the EU system, strengthening their energy security and independence.
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Suncor Energy CEO says the company can handle potential U.S. tariffs, citing strong production and a diversified export strategy.
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Africa Energy Bank is set to launch mid-2025 with $5 billion in funding to support oil and gas projects across the continent.
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Iraq’s parliament approves an oil subsidy plan, increasing payments to $16 per barrel to restart Kurdish exports and resolve the Baghdad-Erbil dispute.
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Africa faces increasing power blackouts due to aging infrastructure, surging demand, climate change impacts, and governance issues.
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Oilfield service firms are struggling as drilling activity slows and prices decline, forcing many into rising debt and potential bankruptcy.
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Africa’s ambitious renewable energy goals aim to significantly increase capacity and connect millions to sustainable power by 2030.