KEY POINTS Nigeria’s benchmark oil, Bonny Light, fell below $69 per barrel during the second trading session of the week. The drop in oil prices comes as escalating tensions between …
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KEY POINTS Conoil Plc reported its weakest annual profit in five years for 2025, as falling fuel sales, high borrowing costs, and growing short-term debt weighed heavily on the company. …
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In the NewsOil & Gas
Aiteo Breaks New Ground in Libya as Benedict Peters Expands African Energy Footprint
KEY POINTS Aiteo, one of Africa’s largest privately owned energy companies controlled by Nigerian billionaire Benedict Peters, has secured a rare exploration license in Libya, marking a major milestone both …
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In the NewsOil & Gas
NUPRC Calls on Global Investors to Tap Nigeria’s 2025 Oil and Gas Licensing Opportunities
KEY POINTS The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has urged international investors to take advantage of opportunities in Nigeria’s forthcoming 2025 petroleum licensing round. Speaking at the Sub-Saharan Africa …
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KEY POINTS The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, says the old Port Harcourt refinery has reached about 90 percent rehabilitation …
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In the NewsOil & Gas
Chevron and Azule Energy Block 14 Sale Stalled by Local Rival Etu Energias’ Ambitions
KEY POINTS Chevron, the U.S.-based oil major, and the BP–ENI joint venture, Azule Energy, initially planned a smooth divestment of two mature offshore licences in Angola’s Block 14. However, what …
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In the NewsOil & Gas
NNPC, Industry Leaders Reaffirm Commitment to African Energy Growth at SAIPEC 2026
KEY POINTS The Group Managing Director of NNPC Ltd., Mr. Bayo Ojulari, has reiterated the company’s dedication to strengthening partnerships, developing indigenous capacity, and positioning gas as a central driver …
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Energy TransitionIn the News
NERC Report Flags Grid Frequency Breaches as Power Availability Drops to 36% in January 2026
KEY POINTS Nigeria’s electricity grid continued to struggle with low generation availability and unstable system frequency in January 2026, highlighting persistent structural and operational weaknesses in the country’s power sector. …
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KEY POINTS Oil marketers have confirmed that the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has resumed issuing petrol and diesel import licences to prevent fuel shortages. The move …
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KEY POINTS SBM Offshore, a Netherlands-based deepwater ocean-infrastructure company, has sold its largest Guyana-operated floating production storage and offloading vessel (FPSO), FPSO ONE GUYANA, to ExxonMobil Guyana Ltd for US$2.32 …