Uganda is gearing up to start producing oil by 2025, but the ambitious plan faces many challenges and controversies. The country has discovered about 6.5 billion barrels of crude oil…
In the News
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The Nigerian National Petroleum Company Limited (NNPCL) plans a significant change. It aims to import 110,000 barrels of crude oil daily from Venezuela or Saudi Arabia. This move will support…
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South Africa’s state-owned power utility, Eskom, has inaugurated Africa’s largest battery energy storage system (BESS), marking a major milestone for the country and the continent. The project in Worcester in…
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Saudi Arabia’s energy minister has blamed speculators for the recent drop in oil prices, saying that they are “pretending” that demand is weak and “abusing” numbers. Prince Abdulaziz bin Salman…
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Africa’s burgeoning geothermal sector will attract a remarkable $35 billion in investments by 2050. Rystad Energy’s recent report highlights this significant growth trajectory, emphasizing the focus on Kenya and Ethiopia…
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Nigeria has signed a memorandum of understanding (MoU) with Saudi Arabia to boost cooperation in the oil and gas sector. The MoU was signed at the Saudi-Arab-African Economic Conference in…
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The global oil market is facing a turbulent period as the war in Ukraine has triggered an energy crisis that has disrupted trade flows and exposed the weakness of the…
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Two years into the enactment of Nigeria’s Petroleum Industry Act (PIA), the anticipated benefits for the oil and gas sector and the broader economy remain unrealized. Political interference and selective…
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GovernmentIn the News
How Europe’s Energy Crisis Boosts Nigeria’s Oil Exports Amid Russia-Ukraine War
The ongoing war between Russia and Ukraine has disrupted the global oil market, affecting Nigeria’s crude exports to Asia. However, Nigeria has also benefited from the increased demand from Europe,…
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The New Economy Forum in Singapore brought together global leaders from China, Saudi Arabia, and Singapore to discuss the challenges and opportunities of the new economy. They emphasized the need…