Tag: #OilAndGas
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SAO TOME’S REJECTED OIL BIDS HIGHLIGHT URGENT DIVERSIFICATION LESSONS FOR NIGERIA
The decision by Sao Tome and Príncipe to reject bids for three offshore oil blocs is raising important questions about the future of oil investment and what it means for Nigeria’s economy. Despite offering investors highly attractive terms, including up to 85 per cent ownership stakes, the Central African nation received bids from only two…
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NIGERIA EXCEEDS OPEC OIL PRODUCTION QUOTA AS OUTPUT HITS 74-MONTH HIGH
Nigeria’s crude oil and condensate production rose to an average of 1.735 million barrels per day (bpd) in June 2026, marking the fourth consecutive month of growth and pushing the country above its Organisation of the Petroleum Exporting Countries (OPEC) production quota. Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that crude…
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CSOs CALL FOR NUPRC REFORMS, GREATER BENEFITS FOR OIL HOST COMMUNITIES
Civil society organisations in Akwa Ibom have called for the unbundling of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to improve efficiency and strengthen benefits for oil-producing host communities. The groups made the call in a communique issued after a two-day advocacy workshop for traditional rulers on impact assessments in oil-producing regions. The organisations also…
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DANGOTE SETS SIGHTS ON IPO, TO SELL 10% OF REFINERY
Africa’s biggest refinery is heading to the market — and investors could soon own a slice of Dangote’s $20bn oil giant. Washington D.C., April 16, 2026 — The Dangote Group has unveiled plans to sell a 10 per cent stake in its 650,000 barrels-per-day refinery through a Pan-African Initial Public Offering (IPO) in 2026. President…
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INSURANCE CASH SURGE: SECTOR RAKES IN ₦2.3BN AS OIL & GAS TAKES THE LEAD
Nigeria’s insurance industry just had a solid quarter—think of it as a financial “rainy day fund” that actually saw sunshine, pulling in billions while oil & gas and fire cover stole the spotlight. The Nigerian insurance sector recorded a strong performance in Q4 2025, with gross premium hitting ₦2.301 billion, according to the National Insurance…
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FOCUS ON FUEL SUPPLY, NOT PRICE CONTROL – EXPERT TELLS FG
As global tensions shake oil markets, an energy expert is warning Nigeria—keeping fuel flowing matters more than fixing prices. Energy economist Wumi Iledare has advised the Federal Government to prioritise stable fuel supply over price control, saying it’s the key to economic stability amid global oil market disruptions. Speaking in Lagos, Iledare warned that trying…
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NUPRC REMINDS INVESTORS: PRE-QUALIFICATION FOR 2025 LICENSING ROUND CLOSES FEB 27
Time is running out for companies looking to grab a slice of Nigeria’s oil and gas sector—50 blocks up for grabs in the 2025 Licensing Round. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has warned that registration and submission for Pre-Qualification under the Nigeria 2025 Licensing Round will close at 4:30 p.m. on Friday, February…
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*PENGASSAN URGES LEGISLATIVE SCRUTINY OF EXECUTIVE ORDER *
Oil and gas workers warn that bypassing lawmakers could threaten sector stability, investment, and jobs. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the government to submit proposed changes under Executive Order 9 to the National Assembly for proper legislative review. President Festus Osifo said the Feb. 13 order,…
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NNPC POSTS N60.5TRN REVENUE, N5.7TRN PROFIT IN 2025
Despite operational hiccups, Nigeria’s oil giant stays profitable. The Nigerian National Petroleum Company Limited has announced N60.5 trillion in revenue and N5.76 trillion profit after tax for 2025, according to its December report. Average crude oil output was 1.54 million barrels per day, while natural gas production averaged 6,914 mmscfd, peaking mid-year at over 7,500…
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AFRICAN ENERGY BANK TO RAISE $15BN FOR CONTINENTAL OIL & GAS BY 2030
Africa aims to fuel its energy future while creating half a million jobs! The African Energy Bank (AEB) is set to mobilize $15 billion by 2030 to finance oil and gas projects across Africa, creating over 500,000 direct jobs in the midstream sector, the Association of Petroleum Producers’ Organisation (APPO) has announced. APPO Secretary-General Farid…
