Energy
Nigeria’s Debt Burden Rises as Oil Production Slips
Nigeria’s public debt increased marginally in the first quarter of 2026, while crude oil production recorded its first decline in...
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Petrobras Detects Signs of Oil off Brazil’s Amazon Coast
Brazilian oil giant Petrobras has detected signs of hydrocarbons off the coast of the country’s Amazon region, potentially indicating the...
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FG Introduces 70:30 Profit-Oil Reset to Boost Deep Offshore Investment
The Federal Government has introduced a major fiscal incentive for new deep offshore oil and gas projects, allowing qualifying developments...
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Nigeria Exceeds OPEC Quota for Third Month Despite July Oil Output Drop
Nigeria exceeded its Organisation of the Petroleum Exporting Countries (OPEC) crude oil production quota for the third consecutive month in...
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Senate Gives Seplat, Three Oil Firms 48 Hours to Answer NEITI Audit Queries
The Senate Public Accounts Committee (PAC) has given Seplat Energy, Network E&P Nigeria Limited and two other oil companies a...
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Dangote Refinery Alone Cannot Meet Africa’s Fuel Demand, Says FG
The Federal Government has said the Dangote Petroleum Refinery alone cannot meet Africa’s growing demand for refined petroleum products, urging...
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Strait of Hormuz Vessel Traffic Falls to One-Week Low as Ships Avoid Key Waterway
The number of vessels tracked through the Strait of Hormuz fell to a one-week low of eight on Tuesday as...
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Nigeria Calls for West African Fuel Price Benchmark to Reduce Reliance on Foreign Markets
The Federal Government has called for the establishment of a regional benchmark for refined petroleum products in West Africa, arguing...
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Nigeria’s Domestic Refineries Receive 97.4% of Crude Supply Allocation in Q2 2026
Nigeria’s domestic crude oil and condensate supply to local refineries reached 97.4% of allocated volumes in the second quarter of...
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NERC Takes Over Kaduna DisCo Over N456.5bn Debt Crisis
The Nigerian Electricity Regulatory Commission (NERC) has taken over the Kaduna Electricity Distribution Company (KAEDC) and dissolved its board of...
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