Our industry news page curates and displays headlines along with brief descriptions of the latest developments in the oil, gas, and energy industry in Nigeria. The content is sourced from various media outlets across the country, offering a comprehensive overview of the sector’s current events and trends.
Dec 05, 2024
PETAN urges stronger reforms, funding to propel Nigeria’s oil & gas sector:
The Petroleum Technology Association of Nigeria (PETAN) has called for urgent legal reforms and increased funding to help local oil and gas companies achieve global standards.
UK’s energy professionals raise concerns over decarbonisation commitments:
New independent research into the views of the UK’s energy professional community has been published today, raising concerns that progress towards decarbonisation commitments will become significantly more challenging.
Savannah Energy 80% gas production generate $320m in Nigeria:
Savannah Energy PLC say its gas gross production in Nigeria has average 22.7kboe per day (80%) Year-in-Year generating total income of $320 million of $257 million in the 10-months to end-October up from $233 million and $202 million respectively in H1 financial year of 2024.
OPEC+ decision & Bessent’s aggressive energy policy could lower oil prices:
“Oil prices are once again under pressure due to uncertainty surrounding OPEC+ production plans, a factor that has caused a bearish sentiment among investors and could continue to exert downward pressure on crude prices.
NLNG affirms commitment to prioritizing local communities in capacity building:
The Nigeria LNG Limited, NLNG has affirmed its commitment to the sustainable development of host communities, with a focus on local workforce involvement, vendor participation, and skills development in major projects.
Blue Seal Energy advocates collaboration to unlock Nigeria’s chemical sector potential:
The Group Managing Director and Chief Executive Officer of Blue Seal Energy Group Inc., Dr. Doyle Edeni has called for greater collaboration and strategic partnerships to foster growth in Nigeria’s chemical industry.
Schneider Electric accelerates end-to-end AI-ready data centre solutions:
Schneider Electric, the leader in the digital transformation of energy management and automation, has today accelerated its end-to-end AI-ready data centre solutions with new announcements that address the urgent energy and sustainability challenges driven by high demand for AI systems.
OPTS to expand Marine Accelerator Programme by Q1 2025:
The Oil Producers Trade Section, OPTS, has announced plans to expand its Marine Accelerator Programme by Q1 2025, following the success of its pilot phase launched in May 2024.
Shell partners with Niger Delta communities to grow Nigerian content:
Communities in the Niger Delta are being supported by the Shell Petroleum Development Company of Nigeria Ltd (SPDC) to provide services to the oil and gas industry as part of a strategy to develop Nigerian content.
NCDMB commits to enhancing Nigeria’s presence in international market:
The Nigerian Content Development and Monitoring Board, NCDMB, has reaffirmed its dedication to strengthening Nigeria’s position in international markets through strategic initiatives that focus on regional trade, infrastructure development, and financial support.
Tinubu Felicitates CEO Of Matrix Energy Group Aliu at 50:
President Bola Tinubu has extended his heartfelt congratulations to Abdulkabir Adisa Aliu, the founder and CEO of Matrix Energy Group as he marks his 50th birthday on December 5, 2024.
OPEC+ To Sustain Oil Output Cut till Q1:
There is a likelihood that the Organization of Petroleum Exporting Countries and its allies known as OPEC+ would at its meeting on Thursday extend its latest round of oil output cuts until the end of the first quarter.
Schneider Electric Nigeria Wins Employer of the Year in Energy Award:
Global leader in energy management and industrial automation, Schneider Electric, has been awarded Employer of the Year in the Energy and Utilities Sector by the Nigeria Employers’ Consultative Association (NECA) recently.
Port-Harcourt Refinery Up, Running, NNPC Insists:
The Nigerian National Petroleum Company Limited (NNPCL) has insisted that the old Port Harcourt Refinery was up and running, with loading operations in full swing.
Building a climate-resilient energy sector in Nigeria: Challenges and recommendations:
Nigeria is facing severe climate change impacts, including rising temperatures, flooding, and droughts. In 2022, flooding alone caused 662 deaths and displaced 2.5 million people.
Why China is turning its back on Iranian oil:
After years of abusing Iranian sanctions and flooding China’s economy with cheap Iranian oil, China’s larger independent refiners are set to shun Iranian oil “imminently” because of their exposure to the US banking system, said Energy Aspects, which expects sanctions to tighten under Trump.
Blending at Port Harcourt Refinery is no crime – NNPC:
THE Group Managing Director, Nigerian National Petroleum Corporation Limited, NNPCL, Mele Kyari, has said that blending during refining if petroleum products is no crime.
(ICYMI) NNPCL boss to Nigerians: Port Harcourt refinery is real, not fantasy:
The Group Chief Executive Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, has reassured Nigerians of the functionality of the Port Harcourt Refinery, emphasizing that it is fully operational and producing products.
Energy sector: Reps ask FG to upscale Lithium Industry, value chain:
The House of Representatives on Wednesday tasked the Federal Government with the urgent need to upscale the lithium sector of the country’s economy with a view to holistically diversify the economy.
Shell and Equinor form UK North Sea oil and gas joint venture:
Shell (SHEL.L), opens new tab and Norway’s Equinor (EQNR.OL), opens new tab will merge their British North Sea assets to form the ageing basin’s largest oil and gas company, the pair said on Thursday.
Exclusive: Rising costs squeeze intermediaries out of thriving Russian oil trade with India:
Three trading houses have become dominant sellers of Russian oil to India as many smaller players dropped out of the business due to high funding costs in Russia and lack of access to Western funds, according to data and six trading sources.
Targets, costs hurting green energy appeal, Rosneft boss Sechin says:
Weakening investor interest in clean energy is due to elusive targets, high costs and lack of financing, according to Igor Sechin, boss of Russia’s biggest oil producer Rosneft (ROSN.MM), opens new tab and a well-known green energy sceptic.
Column: France’s political woes may trigger fresh Europe energy crisis:
The collapse of France’s government on Wednesday could have far-reaching consequences for Europe’s energy markets and send regional electricity costs soaring.