In the News

The IEA predicts a surplus in global oil supply by 2025, driven by rising production from non-OPEC+ nations and slowing demand growth in China

US refiners sustained $5.2 billion in shareholder returns during Q3, maintaining their commitment amid declining profits due to weak refining margins.

NNPCL subsidiary NGML signs a gas supply agreement with Dangote Refinery to power production and support Nigeria’s industrial growth.

Oil prices edge up following OPEC demand forecast revision, with dollar gains and geopolitical tensions limiting market recovery

Ridgemar Energy seeks buyers for its Eagle Ford Basin assets, potentially valuing the U.S. oil producer at over $1 billion.

Nigeria’s removal of fuel subsidies raises fuel costs, sparking public protests and challenges for policymakers

Exxon Mobil is selling its mature Permian Basin assets to Hilcorp Energy for $1 billion, as it shifts focus to high-yield shale properties.

South Africa spent R17 billion on renewable energy imports in 2024, pushing for local manufacturing to support jobs and reduce costs

Dangote refinery exports gasoline amid local demand issues, as Nigeria faces challenges to meet domestic fuel needs

African nations face unique challenges and opportunities in pursuing net-zero emissions, balancing economic growth with environmental sustainability.