Industry News

Sahara Group Names Folake Soetan to Lead Arahas in Push to Expand Oilfield Services Across Africa
Sahara Group has appointed Folake Soetan as Managing Director of Arahas Global Oilfield Services, effective July 1, 2026, Read more…

NNPC Revenue Falls 13% in May Despite Stable Oil Output as Profit Declines
Nigeria’s state-owned energy company, Nigerian National Petroleum Company Limited (NNPC Ltd.), reported a sharp decline in revenue and profit for May 2026 despite maintaining relatively stable crude oil and natural gas production, Read more… Read more…

Education Minister backs PTDF’s Yar’Adua Varsity of Geological Sciences and Engineering Tech vision
The Minister of Education, Dr. Maruf Olatunji Alausa, has reaffirmed the Federal Government’s commitment to supporting the Petroleum Technology Development Fund, PTDF, Read more…

Nigeria’s gas flaring rises 8% as global waste reaches six-year high
Nigeria recorded an eight per cent increase in gas flaring in 2025 despite higher crude oil production, as global volumes of gas burnt off during oil production climbed to their highest level in six years, Read more…

DisCos collected ₦203.61bn from electricity consumers in April – NERC
Electricity Distribution Companies (DisCos) collected ₦203.61 billion from Nigerian electricity consumers in April 2026, Read more…

President Tinubu appoints Obahiagbon, Umeoji as Executive Directors for NDPHC
President Bola Tinubu has appointed Hon. Patrick Obahiagbon, as the Executive Director, Strategy & Commercial, of the Niger Delta Power Holding Company, NDPHC. Read more…

Fed Govt, Rivers, oil firms move to resolve Bille gas eruption
Rivers State Governor Siminalayi Fubara has assured residents of Bille in Degema Local Government Area that steps are being taken to address gas eruption in the area. Read more…

Court okays Diezani’s request to tender UK judgment acquitting her of bribery, others
A Federal High Court in Abuja has granted a request filed by a former Minister of Petroleum, Diezani Alison-Madueke, to tender a copy of a recent judgment by the Southwark Crown Court in London, Read more…

Stakeholders seek fresh bidding for $243m pipeline stake
Stakeholders have urged the Federal Government to initiate a new competitive bidding process for the planned sale of a 40 per cent interest in the Amukpe–Escravos Pipeline, Read more…

7,942 oil service permits, 49 licences granted in Q1 — Report
Nigeria issued 7,942 oil and gas industry service permits and 49 upstream monitoring licences in the first quarter of 2026, Read more…

New Lagos mini-grid will unlock businesses, jobs — Senator
The senator representing Lagos East Senatorial District, Adetokunbo Abiru, has said the newly commissioned 504-kilowatt-hour interconnected mini-grid in Epe and the planned 5MW expansion will unlock businesses, Read more…

Heirs Energies deploys real-time digital monitoring at OML 17
The Heirs Energies OML 17 Joint Venture, in collaboration with Redtech, has unveiled its Integrated Operations Monitoring Centre, Read more…

WACT-APM Terminals appoints first Nigerian MD
WACT-APM Terminals Nigeria has announced the appointment of Courage Obadagbonyi as Managing Director, effective 1 July, Read more…

Oil shocks pushed Nigeria’s inflation to 15.93% – Report
Nigeria’s hard-fought, 11-month disinflation streak officially ground to a halt in March 2026, as a fresh wave of global energy disruptions forced headline inflation back on an upward trajectory, ultimately hitting 15.93 per cent in May. Read more…

Shipowners hopeful as CVFF enters implementation phase
For years, indigenous shipowners in Nigeria have anticipated what many regard as the maritime sector’s long-awaited “lifeline” — the Cabotage Vessel Financing Fund. Read more…

Oyetola seeks removal of barriers facing women in maritime
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called for urgent action to eliminate the barriers that limit women’s participation in the maritime sector. Read more…

Petroleum ministry, lawyers to chart Africa’s energy transition roadmap
The Federal Ministry of Petroleum Resources is collaborating with the Lawyers in Energy Network as the anchor partner for the 2026 Lawyers in Energy International Conference and Awards, Read more…

Crude slips below $72, petrol stays above N1,000
Crude oil prices dropped to $71.21 on Wednesday even as the Nigerian National Petroleum Company Limited and other fuel marketers retained petrol prices above N1,000 per litre. Read more…

Dealers await clarity as green vehicle tax begins
Car dealers across the country have adopted a wait-and-see approach as the Federal Government commenced the implementation of the Green Tax Surcharge on imported vehicles alongside reductions in import adjustment taxes. Read more…

Dangote refinery eased foreign exchange pressure, stabilized naira — Afreximbank
President and Chairman of the Board of Directors of the African Export-Import Bank, George Elombi, has said the Dangote Petroleum Refinery played a key role in stabilizing the naira by reducing Nigeria’s dependence on imported petroleum products. Read more…

Wall Street Is Pivoting From Solar To Solar Plus Storage
The global solar energy boom is showing no signs of slowing down, with falling costs and ambitious clean energy targets continuing to drive rapid adoption. Read more…

How the U.S. and U.K. Are Redrawing Syria’s Energy Map
The agreement signed last week between the Syrian Petroleum Company (SPC), the U.S.’s ConocoPhillips and Great Britain’s Novaterra ConocoPhillips — Read more..

The Hydrogen Industry’s Efficiency Problem May Have Just Met Its Fix
A team of researchers in Germany has discovered a highly efficient way to convert sunlight into hydrogen fuel, potentially solving some of the most critical challenges facing the green hydrogen sector Read more…