KEY POINTS Oil prices jumped sharply on Monday as tensions intensified in the ongoing US-Israel war with Iran. Brent crude, the global benchmark, rose more than 3 percent to trade …
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KEY POINTS The Nigerian National Petroleum Company Limited, NNPC, has announced plans to significantly increase Nigeria’s proven gas reserves from about 210 trillion cubic feet to approximately 600 trillion cubic …
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KEY POINTS The Nigerian Navy has uncovered and dismantled an active illegal refining site in Allison Community, Bonny Local Government Area of Rivers State, recovering more than 20,000 litres of …
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Energy TransitionIn the News
Power Sector Reforms Attract $2 Billion Investment as Liabilities drop to N146bn
KEY POINTS The Federal Government has announced that ongoing reforms in Nigeria’s power sector have attracted about $2 billion in fresh investments while reducing sector liabilities to approximately N146 billion. …
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Energy TransitionIn the News
AfDB Approves $5.65 Million Grant for Mini-Grid Projects Across 14 African Countries
KEY POINTS The African Development Bank, AfDB, has approved a $5.65 million grant to support Peace Renewable Energy Certificate mini-grid projects across 14 African countries, targeting improved electricity access for …
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KEY POINTS The Nigerian National Petroleum Company, NNPC, has said Nigeria is witnessing increased demand for its liquefied natural gas cargoes, as global energy disruptions create new commercial opportunities. The …
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KEY POINTS The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has signed Petroleum Exploration Licence No. 5 with SeaSeis Geophysical Limited to advance offshore exploration activities. The agreement authorises the company, …
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KEY POINTS The Central Bank of Nigeria, CBN, has approved full repatriation of export proceeds by international oil companies, granting them unrestricted access to 100 percent of their foreign exchange …
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KEY POINTS The Nigerian Electricity Regulatory Commission, NERC, has inaugurated a new forum designed to strengthen coordination and improve effectiveness in electricity regulation across Nigeria, as the country continues to …
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In the NewsOil & Gas
Oil Producers Get Faster Approvals to Revive Idle Nigerian Wells as Output Push Intensifies
KEY POINTS Oil producers operating in Nigeria are now receiving significantly faster approvals to revive idle wells, as authorities move to boost crude output and strengthen the country’s position in …