KEY POINTS Oil prices extended their decline on Wednesday, clinging to five-month lows amid mounting anxiety over a renewed US-China trade spat and forecasts of an impending supply glut that …
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Energy TransitionIn the News
Nigeria Strikes ₦4 Trillion Deal to Settle Power Sector Debts and Reignite Investor Confidence
KEY POINTS Nigeria’s Federal Government has sealed a landmark agreement with power generation companies, GenCos, and gas suppliers to clear outstanding debts worth about ₦4 trillion, marking one of the …
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In the News
Shell Greenlights $2 Billion Offshore Gas Project With Sunlink to Boost Nigeria LNG Supply
KEY POINTS Shell Plc has approved a $2 billion offshore gas development in Nigeria, deepening its investment footprint in the West African nation’s energy sector as it pivots further toward …
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In the NewsMarketsOil & Gas
Algeria Inks $5.4 Billion Oil and Gas Pact With Saudi Arabia’s Midad Energy to Boost Production
KEY POINTS Algeria has signed a sweeping $5.4 billion oil and gas production-sharing agreement with Saudi Arabia’s Midad Energy, marking one of the North African nation’s largest energy pacts in …
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KEY POINTS South Africa’s state-owned power utility, Eskom, is planning to cut electricity tariffs after returning to profitability for the first time in eight years, a turnaround that its chairman, …
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In the NewsMarketsOil & Gas
Brent Crude Slides 6% in October as US-China Tensions and Rate Expectations Weigh on Oil
KEY POINTS Global oil markets are under renewed pressure as Brent crude prices dropped more than 6% in October, slipping toward $62 a barrel and struggling to hold above the …
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KEY POINTS Eskom has officially kicked off its long-awaited smart meter installation drive in KwaZulu-Natal, marking the start of a sweeping plan to modernise South Africa’s electricity network and tackle …
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Energy TransitionIn the NewsOil & Gas
Eni Targets 2026 Launch for Petronas Gas Venture as LNG Expansion Gathers Pace
KEY POINTS Italian energy giant Eni is gearing up to kick off its joint gas venture with Malaysia’s state-owned Petronas by 2026, marking another milestone in its strategy to expand …
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KEY POINTS Nigeria’s Bonny Light crude held firm around $67 a barrel on Monday as a wave of renewed optimism swept through global oil markets, driven by hopes that the …
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In the NewsMarketsOil & Gas
NNPC Raises Petrol Price to N992 in Lagos as Nigerians Brace for Tougher Times
KEY POINTS Nigeria’s state-owned oil company, the Nigerian National Petroleum Company, NNPC, has raised the pump price of petrol to N992 per litre in Lagos, up from N865, marking yet …