In the News

Russia halts gas supplies to Austria over a pricing dispute, with redirected volumes snapped up by European buyers amid market strains and colder weather

COP29 negotiates $1 trillion annual climate funding for developing nations while political tensions and financial hesitations slow progress.

Russia stopped gas deliveries to Austria over a payment dispute as OMV offsets €230 million arbitration damages. EU energy shifts continue

Orano warns of financial strain at Niger’s Somair uranium plant amid strained Franco-Niger relations and production challenges.

Butane Energy, with NCDMB, launches a 180MT LPG plant in Kaduna to expand gas accessibility and support cleaner energy goals

Nigeria’s crude output discrepancy with official figures highlights production challenges, despite being OPEC’s top producer in Africa.

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