Industry News

FG reduces oil block entry costs to $3m
As the 2025 licensing round gets underway, the Federal Government has reduced the signature bonus from $10m to $3m and $7m. The Nigerian Upstream Petroleum Regulatory Commission disclosed this in an update on its website. Read more… Read more…

Reps order NNPC Ltd appearance over irregular payments probe
The Public Accounts Committee of the House of Representatives on Monday directed the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, to tender relevant documents and appear before it on Monday, December 15, 2025, Read more…

MDAs’ unpaid electricity bills exceed N100bn, DisCos cry out
Electricity distribution companies have decried the failure of Federal Government ministries, departments, and agencies to pay for the power they consume. Read more…

NUPRC denies withholding N283.3bn exploration funds from NNPC
The Nigerian Upstream Petroleum Regulatory Commission has disclosed that over $185m (about N268.4bn) and N14.9bn have so far been released to the Nigerian National Petroleum Company Limited from the Frontier Exploration Fund. Read more… Read more…

Govt restores 450MW to grid after power fleet revamp
The Federal Government, through the Niger Delta Power Holding Company, has restored 450 megawatts of generation capacity to the national grid following the completion of scheduled maintenance works on the Geregu National Integrated Power Project plant in Kogi State. Read more… Read more… Read more…

Report: Global Upstream Oil Capital Expenditure to Hit $504bn in 2026
Global Exploration and Production (E&P) Capital Expenditure (CAPEX) has been projected to reach $504 billion by 2026, with Africa contributing about $41 billion, Read more…

Amid Surging Collections, Discos Exceed 2024 Revenue, Set to Smash N2.3tn Mark
Nigeria’s electricity Distribution Companies (Discos) experienced their most dramatic financial upturn in the first three quarters of 2025, with new regulatory data showing that by the end of September 2025, Read more…

NERC Charges Compliance Officers on Power Sector Standards
The Nigerian Electricity Regulatory Commission (NERC) has urged compliance officers across the Nigerian Electricity Supply Industry (NESI) to ensure full adherence to  industry standards. Read more…

Oil Hovers Near Two-week Highs at $63.84/Barrel
Oil prices hovered at two-week highs yesterday, as investors expected a likely U.S. Federal Reserve interest rate cut this week to lift economic growth and energy demand, Read more…

FG Begins Payment of N185bn Gas Debt
The federal government has said it has taken a decisive step to revitalize the gas industry and stabilize power generation after President Bola Ahmed Tinubu authorized the settlement of N185 billion in long-standing debts owed to natural gas producers. Read more…

Arrest of Indigene, Neglect: Delta Community Threatens to Shut Down Heritage Energy Operations
Stakeholders of Orogun Community in Ughelli North Local Government Area of Delta State have threatened to disrupt the operations of Heritage Energy Operations Services Ltd (HEOSL) over continued detention of an indigene, Read more…

Court orders Tinubu, NNPC boss, EFCC to respond to suit seeking Ojulari’s sack
A High Court of the Federal Capital Territory (FCT) has issued an order directing President Bola Tinubu and the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Read more…

EU powers sustainable growth in Nigeria with new Balanga hydropower project
The European Union’s commitment to sustainable development in Nigeria is taking shape at the Balanga Dam in Gombe State, where an EU-funded small hydropower project is scheduled to be commissioned in March 2026. Read more…

Axxela achieves 30.5% emissions reduction, expands gas infrastructure
Axxela Limited, a gas and power portfolio company in sub-Saharan Africa, has released its 2024 Sustainability Report, reaffirming its commitment to sustainable energy solutions. Read more…

PAM Africa wins global award for AI energy platform
PAM Africa, a notable innovator in Africa’s energy sector, has won the Digital Energy Challenge award for the second time for its AI-driven integrated platform approach to energy. Read more…

Elektron Energy Clarifies Position On Oyo State IPP; Reaffirms Its Unassailable Project Track Record And Continued Commitment To Service Delivery
Lagos, Nigeria – 9th Dec 2025 – Elektron Energy has become aware of recent media commentary attributed to the Oyo State Commissioner for Energy and Mineral Resources concerning its subsidiary, Read more…

NLNG Outlines Path To Sustainable LNG At World LNG Summit
The Nigeria LNG has called for a new era of global collaboration to strengthen LNG supply, improve affordability for emerging markets, Read more…

NCDMB Boosts Local Skills In Oil And Gas Fabrication 
The Nigerian Content Development and Monitoring Board (NCDMB) has ended a three-week capacity building training program on Structural Steel Fabrication for Oil and Gas Projects in Port Harcourt. Read more…

Engineering Africa’s renewable energy future: Where grid stability meets decarbonization
When I deployed real-time monitoring systems across Nigeria’s power distribution network in 2024, I expected chaos. Read more…

PETROAN Projects Drop In Cost Of Gas After Road Infrastructure Projects Commissioning
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has projected gas distribution in the Niger Delta and across the South–South, Read more…

Nigeria’s Emerging 500,000 Barrels A Day Refinery Enters Critical Development Phase 
Hope of boosting in-country petroleum products refining is rising following a milestone recorded by the proposed 500,000-barrel-per-day refinery in Ondo State. Read more…

Shell Nigeria Gas Limited Boosts Operations In Ogun State
Nigeria’s premier gas distribution company, Shell Nigeria Gas Limited (SNG)  is expanding its operations in Ogun State with an agreement to provide gas to SG Industrial FZE, Read more…

Exxon forecasts higher earnings growth, oil production through 2030
Exxon Mobil (XOM.N), opens new tab on Tuesday said it will target $25 billion in earnings growth from 2024 to 2030 and increase oil and gas production, as the top U.S. oil producer leans on profitable assets in Guyana and the Permian Basin. Read more…

Canada’s newest oil tycoon shakes up sector with bold expansion plan
Canadian banker-turned-oil-tycoon Adam Waterous, an industry outsider who lives in a Rocky Mountain tourist town, not energy hub Calgary, has a plan to cement his company’s status as one of North America’s fastest-growing oil companies. Read more…

TotalEnergies cements Namibia position with Galp asset swap
TotalEnergies (TTEF.PA), opens new tab has cemented its position in offshore Namibia by agreeing to an asset swap with Portugal’s Galp (GALP.LS), opens new tab that makes the French company the operator of the major Mopane discovery, it said on Tuesday. Read more…