Nigeria has tendered 50 oil and gas blocks, eyeing $10 billion in new investments over the next ten years and 400,000 barrels daily in additional production capacity, local media report. The blocks on offer include 15 offshore deposits, 19 frontier fields, and one deepwater block, the head of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, […]
Nigeria opens 50 oil blocks, targets $10bn investment Read More »
Exports of liquefied natural gas from the United States are on track to book a 40% annual increase this month, hitting 10.7 million tons, projections from Kpler have shown, as cited by Bloomberg. An ample supply of liquefied gas has already pushed natural gas prices down in Europe, with prices reaching the lowest in over a
U.S. LNG Exports to Jump 40% as Europe Hits Record Demand Read More »
Crude oil and natural gas from overseas, including Russia, are important for Japan’s energy security, the country’s economy ministry told Reuters this week, noting the Sakhalin-1 oil and gas project in Russia’s Far East. “Japan government continues to recognize that securing energy from overseas, including the Sakhalin Project, is extremely important for Japan’s energy security,” the statement
The Federation owes the Nigerian National Petroleum Company Limited (NNPCL) a staggering N17.5 trillion for pipeline protection, under-recovery, and other energy-security operations carried out on behalf of the government in the 2024 financial year. The figures—contained in NNPC’s 2024 Consolidated Financial Statements—have sparked widespread concern, as analysts and industry experts call for a full forensic
NNPCL spends N17.5tn on pipeline security in one year Read More »
The Nigerian National Petroleum Company (NNPC) and its partner, Heirs Energies, have doubled natural gas production from the strategic OML 17 oil block— a major boost for Nigeria’s domestic gas supply and electricity generation efforts. The milestone was achieved through a rigless well intervention, which unlocked an additional 135 million standard cubic feet per day
Nigeria Boosts Gas Supply With OML 17 Output Surge Read More »
Former federal lawmaker, Senator Shehu Sani, has demanded clarification from the Nigerian National Petroleum Company Limited (NNPCL) and the Minister of Finance, Wale Edun, over the reported N7 trillion fuel subsidy payment in 2024. According to NNPCL’s financial statement for the year ending December 2024, the company spent N7.1 trillion on what it described as
N7trn subsidy: Shehu Sani seeks answers from NNPCL, minister Read More »
Nigeria’s imports of refined petroleum products from Malta have plunged by 60 percent in 2024, signalling a shift in the country’s downstream fuel supply dynamics as the Dangote refinery ramps up output. Data from TradeMap show that Nigeria’s imports of Malta petroleum oils and oils obtained from bituminous minerals dropped to approximately $818 million in
Petrol imports from Malta drop by 60% after Dangote refinery Read More »
The Nigerian National Petroleum Company Limited has declared a profit after tax of N5.4tn for the financial year ended 2024, marking one of its strongest performances since its transition into a limited liability company. The Group Chief Executive Officer of NNPCL, Bayo Ojulari, announced the financial results during a press briefing on Monday in Abuja.
About 149,500 metric tonnes of Premium Motor Spirit — equivalent to 194.35 million litres of petrol — arrived or is expected to arrive in Nigeria between Friday, 21 November, and Tuesday, 25 November 2025, according to shipping data from the Nigerian Ports Authority (NPA). The deliveries come days after the Federal Government postponed the introduction
Nigeria’s petrol shipments surge after suspending import duty Read More »
Three persons have been confirmed dead in a gas explosion that rocked the Biodun Alaadun area of Ona Ara local government area of Ibadan, the Oyo state capital, on Friday night. Although unconfirmed reports said many lives were lost in the explosion, the Oyo State Fire Service team, led by the General Manager, Mr. Akinyinka
