Oil, Gas and Energy

Global Energy and Infrastructure Giants Westpaq International and UTC Internacional Explore Strategic Investment Partnerships with Lagos State Government

In a bold affirmation of Lagos State’s rising global profile as an investment destination, a high-level delegation from Westpaq International LLC, Houston, Texas, an integrated energy and technology services company headquartered in Houston, Texas, and UTC Internacional, a São Paulo-based engineering and…

25/03/2025

PH Refinery Operational After ‘Minor’ Fire Incident – NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) on Wednesday said a minor fire incident recorded at the Port Harcourt Refining Company (PHRC) was immediately put out. NNPCL spokesman Olufemi Soneye, in a statement, said reports of an explosion rocking the refinery was false. He…

20/03/2025

Dangote Stops Petrol Sale In Naira, Gives Condition For Resumption

Nigerians may experience an increase in the prices of premium energy products diesel and petrol as the Dangote Petroleum Refinery temporarily halts the sale of petroleum products in Naira. “This decision is necessary to avoid a mismatch between our sales proceeds and our…

20/03/2025

Chevron Buys About 5% Of Hess Stock

Chevron has bought about 4.99% of Hess Corp’s common shares this year. Chevron purchased 15,380,000 Hess shares between January and March, worth about $2.3 billion based on Hess’ closing share price of $150.45 on Monday. In a filing on Monday, the oil and gas…

18/03/2025

Renaissance Energy Completes Acquisition Of SPDC

Renaissance Africa Energy has completed the “acquisition of the entire (100%)” equity holding in Shell Petroleum Development Company of Nigeria (SPDC). This is according to a statement on Thursday by the spokesman of Renaissance Africa Energy Holdings Tony Okonedo who said the acquisition…

14/03/2025

NNPCL Woos Global Investors, Boasts Of Robust Reforms

The Nigerian National Petroleum Company Limited (NNPCL) has called on global investors to direct their attention to the Nigerian oil and gas sector as the nation is now an investors’ haven owing to the robust regulatory reforms and investment-friendly policies. NNPCL Executive Vice…

14/03/2025

Geregu Power Declares Final Dividend Of ₦8.50

Geregu Power Plc has announced a final dividend of N8.50 per ordinary share for the period ending December 31, 2024. This is an increase from the N8.00 per share paid to registered shareholders the previous year. In a corporate action issued by the company,…

13/03/2025

NNPCL Clarifies Naira Crude Contract With Dangote Refinery

The Nigerian National Petroleum Company Limited (NNPCL) has reacted to recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between with Dangote Refinery. Clarifying the situation in a statement on Monday, the NNPCL…

11/03/2025

NMDPRA Issues New Refinery Licenses In Edo, Delta, Abia

The Nigeria Midstream and Downstream Petroleum Resources Authority (NMDPRA) has issued refining licenses to three companies to build new refineries in Abia, Delta, and Edo States. According to an X post by the NMDPRA on its official page, the proposed refineries that have…

10/03/2025

Like Dangote, NNPCL Slashes Petrol Price As Competition Heightens

Competition for market share continues to heighten between the Dangote Refinery and the Nigeria National Petrol Company Limited, as the latter has slashed Premium Motor Spirit’s price to ₦860 per litre. A market survey by press on Tuesday confirmed the development. The price cut…

04/03/2025