Industry News

Lokpobiri: IOCs’ Assets Divestment Already Yielding Additional Output in Oil Sector
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, yesterday said that the recent gale of divestments in the oil and gas sector in Nigeria was already yielding the expected results in terms of increased crude production. Read more…

FG Tightens Oil Industry’s Harmony as Sterling Oil, PENGASSAN End Rift
The federal government has taken steps towards strengthening operational harmony and enhancing the growth of the Nigerian oil and gas industry with the final resolution of the ongoing dispute between Sterling Oil, Read more… Read more…

CARBON EMISSIONS AND ICT SUSTAINABLE DEVELOPMENT
Rising carbon emissions may hinder development, argues SONNY ARAGBA-AKPORE The Information and Communications Technology (ICT) sustainable development by 2030 is being threatened. Read more…

Bears Kick-start Stock Trading As Investors Lose N377bn
The local stock market yesterday resumed from the holidays on a negative note as selloffs in Aradel Holdings Plc and 24 others pulled the overall capitalisation down by N377 billion. Read more…

OPEC Output Hike To Stay Till July
The global oil market is keeping a close eye on the Organization of Petroleum Exporting Countries (OPEC), which is unwinding output cuts at a faster rate than originally planned to punish over-producers. Read more…

Seplat Energy Receives Procurement Excellence Standard Certificate
The Chartered Institute of Procurement and Supply (CIPS) has presented the Procurement Excellence Standard Certificate to Seplat Energy Plc. Read more…

Brazil’s Petrobras To Invest In Nigeria’s Deepwater Space
Brazil’s state owned integrated oil and gas company, Petrobras is taking steps towards expanding its offshore exploration footprints in Nigeria, where it sees great opportunities in the country’s deepwater untapped resources. Read more…

Tinubu Lauds Dangote Petroleum Refinery On Patriotism, Industrialization
President Bola Ahmed Tinubu has applauded the founder of the Dangote Group, Aliko Dangote, for his unwavering belief in Nigeria and for making bold investments that have become a cornerstone in the country’s economic transformation. Read more…

Indian, 12 others arraigned for ₦4bn diesel theft
Thirteen individuals, including an Indian national, were arraigned on Tuesday before the Federal High Court in Lagos over the alleged diversion of Automotive Gas Oil (AGO), commonly known as diesel, valued at over ₦4 billion. Read more…

Stakeholders fault national power policy, warn of looming energy disintegration
Energy stakeholders have voiced fresh concerns over the recently unveiled National Integrated Electricity Policy and Strategic Implementation Plan (NIEP), Read more…

IEA flags $2.2tr clean tech surge
Global clean energy investment is projected to soar to an unprecedented $2.2 trillion this year, more than double the amount going into fossil fuels, the International Energy Agency (IEA) has said. Read more…

Three jailed for vandalising Ikeja Electric infrastructure
Ikeja Electric Plc has secured the conviction of three individuals for tampering with its power distribution equipment. This was disclosed in a statement yesterday by the Head of Corporate Communications, Ikeja Electric Plc, Kingsley Okotie. Read more…

‘Nigeria should manufacture solar locally, develop in-country capacity’
Dan Moriarty is the Managing Director of CDGA Consultants, an Irish firm, operating Cork Nigeria Solar Energy Company (CNSEC). In this interview with KINGSLEY JEREMIAH, Read more…

How new executive order aims to boost energy cost efficiency
President Bola Tinubu has enacted the Upstream Petroleum Operations Cost Efficiency Incentives Order 2025, in a move aimed at revitalizing Nigeria’s oil and gas industry. Read more…

Nigeria’s naira strengthens as oil rises and trade worries ease
Nigeria’s naira rose for a seventh day to a two-month high against the dollar on Tuesday amid higher oil prices and as investor concerns over US trade tariffs eased. Read more…

Power instability, inflation, currency volatility still our biggest challenges — MD Tsebo Nigeria
Oliyide Oluwashina is the managing director/chief executive officer of Tsebo Nigeria, formerly Tsebo Rapid. In this exclusive interview with BusinessDay’s WASIU ALLI, Read more…

Petroleum producers seek FG’s intervention in gas pricing, flaring penalty, legacy debt, others
Independent Petroleum Producers Group (IPPG) is seeking the Federal Government’s intervention to resolve issues around key areas like gas pricing, gas flare penalty, legacy debt, gas infrastructure, gas supply receivables, Read more…

Anzana Electric and AfDB power up Burundi’s energy future
At the launch of Burundi’s National Energy Compact during the Mission 300 (M300) Private Sector Consultation in London, Anzana Electric Group and the African Development Bank announced a $600,000 project development grant from the Sustainable Energy Fund for Africa (SEFA). Read more…

UK reaffirms support for Nigeria’s energy transition efforts
The British High Commission in Abuja reiterated its strong support for Nigeria’s energy transition during a courtesy visit by the First Secretary for Climate Diplomacy, Ms. Samantha Harrison, Read more…

Can Nigeria sustain electricity subsidies? 
Nigera’s National Council on Power has adopted a cost-reflective tariff for electricity consumption to reduce the country’s 200-billion-naira monthly electricity subsidy. Read more…

Role Of Natural Gas In Africa’s Energy Future
As cities expand and industries grow, the demand for electricity is rising fast. By 2040, Africa will need nearly 1,200 gigawatts of power, yet 600 million people still lack electricity, Read more…

Expert Blames Policy Gremlins In Power Sector Privatization To N4Trn Debt 
Key power industry experts are unearthing some of the uncoordinated policies that have continued backpedal growth in the power sector. Read more…

Anambra Electricity Regulatory Commission To Unveil Soon
The Anambra Electricity Regulatory Commission (AERC), an independent body that would oversee the State’s electricity sector, is in the offing and would be made public soon. Read more…

PowerChina To Sustain Technical Skills In Broadening Nigeria’s Energy Efficiency 
PowerChina, a Chinese firm engaged in the rehabilitation of Kainji Hydropower Plant in Niger State, says it is committed to improving efficiency in the plant and support Nigeria’s broader energy expansion objectives. Read more…