Industry News

Ramat and future of NERC: Separating fact from fiction
In recent days, several comments have circulated about the Nigerian Electricity Regulatory Commission (NERC) and the nomination of Engr Abdullahi Ramat Garba as its incoming Chairman. Read more…

Reps probe oil sector, Anchor Borrowers funds, abandoned properties
HOUSE of Representatives Ad-hoc Committee investigating pre-shipment inspection failures and the non-remittance of crude oil proceeds has vowed to halt the massive revenue leakages undermining Nigeria’s oil and non-oil export sectors. Read more…

MAN expresses concern over energy costs, multiple taxes, others 
THE Manufacturers Association of Nigeria (MAN) has expressed concern about how persistent challenges, including high energy costs, unreliable electricity supply, weak transport systems, Read more…

How Nigeria can raise N1tr from carbon market, decarbonize infrastructure
Nigeria could unlock more than N1 trillion yearly from carbon markets if ongoing renewable-energy deployment is systematically measured, verified and monetized, Read more…

Manufacturers lament as Nigeria tops 2025 power outage
NIGERIAN manufacturers have expressed dismay over the consistent power outage in the country. This comes as the World Bank’s Energy Progress Report 2025 ranked the country top of the list of African countries with the worst power supply. Read more…

Sustaining gains of IOC divestment via improved oil output, earnings
The transformation sweeping through sector is unlike any other moment in its recent history. As international oil companies (IOCs) shed onshore and shallow-water assets, mainly due to insecurity, Read more…

Africa accounts for just 2.3% as renewable investment hits $2.4trn
Global investment in clean energy reached a record $2.4 trillion in 2024, but only 2.3 per cent came from sub-Saharan Africa, International Renewable Energy Agency (IRENA) said on Monday. Read more…

Seventeen of Nigeria’s 23 power plants run below 50% capacity
Nigeria’s power grid slipped deeper into distress in October as new operational data show that 17 of the country’s 23 grid-connected power plants ran below 50 percent of their installed capacity, Read more…

Logistics, energy costs stall Nigeria’s ‘Go Local’ ambition
Nigeria’s goal of achieving the ‘Go Local’ vision, which prioritizes locally-made products over imported ones, is hard hit by high logistics and energy costs. Read more…

TD Africa backs Nigeria’s digital, energy transition with new data Centre agreement
TD Africa, West Africa’s largest technology distribution company, has deepened its support for Nigeria’s energy transition and digital transformation agenda with the signing of a landmark Memorandum of Understanding (MoU) with Schneider Electric Read more…

Sahara Group calls for bold human capital strategies in Africa’s energy sector
Leading energy and infrastructure conglomerate Sahara Group has emphasized that deliberate and innovative human capital strategies are pivotal to positioning Africa’s energy sector for sustainable growth Read more…

Heirs Energies’ CFO named Africa CFO of the year 
The Executive Director & Chief Financial Officer, CFO, of Heirs Energies and Chief Investment Officer of Heirs Holdings Group, Nwanze O. Samuel, has been named Africa CFO of the Year Read more…

Global oil refining profits surge and may stay strong
Global refining margins have hit multi-year highs in November due to sanctions on Russia, refinery outages and maintenance, according to LSEG data and analysts, Read more…

Oil steadies as markets weigh Russia sanctions and glut forecasts
Oil prices steadied on Tuesday, regaining ground after early losses, as traders weighed the impact of Western sanctions on Russian oil flows against an expected supply surplus next year. Read more…

TotalEnergies to appeal French antitrust fine over Corsica fuel supply
TotalEnergies (TTE) said it will appeal a decision by France’s Competition Authority that fined the company for allegedly restricting access to petroleum product depots in Corsica—an accusation the company firmly disputes after years of investigation. Read more…

NUPRC Approves Field Development Plans Valued At $20Bn, Vows To Upscale Crude Production 
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has in  the past 10 months given approval  to major field development plan valued at about $20 billion. Read more…

Nigeria’s Power Grid Instability Driving Manufacturing Cost To Record Level- Ahmed
Manufacturers in Nigeria are heavily relying on alternative energy sources as unstable grid power consistently disrupts manufacturing processes. Read more…

Seplat Lists Openings For North Sea Expertise Across Nigerian Offshore Blocks
Seplat Energy has reaffirmed confidence in its capacity to broaden crude production with asset expansion in line with its growth forecast agenda in Nigeria. Read more…

Era of regulatory ambiguity in upstream sector over – NUPRC 
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has declared that the era of regulatory ambiguity in Nigeria’s upstream sector is over. Read more…

Seplat Energy Chairman, Udoma to lead 2025 PEARL Awards Nite
The Board of Governors of the PEARL Awards Nigeria has announced the Chairman of Seplat Energy and former Chairman of the Securities and Exchange Commission (SEC), Mr. Udoma Udo Udoma as the Chairman of the 2025 award Nite Read more…

EU’s Fossil Fuel Phaseout Stance Splits at COP30 Summit
As many as 82 countries called for a clear roadmap toward the phase-out of fossil fuels at the global climate summit COP30 in Brazil—but the European Union, which aims to lead by example in the global push to net zero, was not among these. Read more…

Exclusive: TotalEnergies, Chevron lead race to buy stake in Galp’s Mopane in Namibia, sources say
Oil majors TotalEnergies (TTEF.PA), opens new tab and Chevron (CVX.N), opens new tab are front-runners in the auction for a 40% operating stake in Galp’s (GALP.LS), opens new tab Mopane field in Namibia, four sources told Reuters. Read more…

Lukoil’s Finnish petrol stations to shut over US sanctions
Finnish petrol station operator Teboil, owned by Russian oil major Lukoil (LKOH.MM), opens new tab, said on Wednesday it is preparing to shut down all its petrol stations in the country as fuel runs out amid U.S. sanctions against its parent company. Read more…

UK’s Ithaca Energy buys 50% stake in Tobermory gas from Shell UK
North Sea oil and gas producer Ithaca Energy (ITH.L), opens new tab said on Wednesday it has agreed to buy a 50% stake in the Tobermory gas discovery from Shell UK (SHEL.L), opens new tab, located in the West of Shetland basin off Scotland. Read more…