The Group Chief Executive Officer of Nigeria’s National Petroleum Company Limited (NNPC Ltd), Engr. Bashir Bayo Ojulari, has reaffirmed Nigeria’s unwavering commitment to partnering with other African nations to achieve sustainable energy security across the continent.
Nigeria’s Midstream and Downstream Gas Infrastructure Fund (MDGIF) and the African Export-Import Bank (Afreximbank) have signed a memorandum of understanding (MoU) for a four-year debt and equity plan of up to $500 million to expand and modernize Nigeria’s natural gas infrastructure.
Global oil trading firm Vitol and US fuel distributor Sunoco have taken delivery of the first petrol cargo imported into the US from Nigeria’s Dangote refinery, Reuters reported on Monday, citing sources familiar with the matter. Vitol is said to have purchased the 320,000-barrel cargo from Geneva-based Mocoh Oil and sold most of it to […]
Nigeria’s crude losses from theft and metering issues dropped to their lowest in nearly 16 years at 9,600 barrels per day (bpd), the West African country’s upstream regulator has reported. Representing the one year to July, the figure is the lowest daily average since 2009, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). “So […]
Ghana’s Energy Ministry has recently hinted at an arrangement where Nigeria would supply natural gas to Ghana, which Ghana would then use to generate electricity. Instead of paying for the gas in cash, Ghana would export some of the electricity back to Nigeria and other neighbours as a form of barter trade.
Nigeria has signed a production-sharing contract (PSC) with TotalEnergies and local firm South Atlantic Petroleum for two offshore blocks, in a step to boost exploration and attract investment under its new oil framework.
During a state visit to Brasilía this week, Nigerian President Bola Tinubu focused on deepening economic cooperation and unlocking strategic partnerships, and welcomed Petrobras’s planned re-entry into the Nigerian market. The two countries signed five Memoranda of Understanding covering trade, energy, aviation, science and finance, signaling a shift from symbolic ties to practical, high-impact collaboration.
First E&P signed a deal with the Tanzania Petroleum Development Corp. last month for the technical assessment and potential development of the Mnazi Bay North Block in southern Tanzania, near fields where vast gas reserves were found in Mozambique.
“The new refinery in Nigeria and some issues in securing domestic supplies played a role for those unique flows earlier this year. But going forward, with the refinery now aiming to secure domestic flows, and probably looking at other crude grades, it is difficult to forecast if the volume flowing from the U.S. to Nigeria will persist,” agreed Giovanni Staunovo, an analyst at UBS.
African exploration and production company Petralon Energy is on track to boost Nigerian crude production by a further 2,500 barrels per day (bpd), following drilling activities at the Dawes Island field, according to a news release from the African Energy Chamber. The company has recently completed a new well at the field, aligning with plans to maximize output at the field. Operated by Petralon Energy subsidiary Petralon 54 Limited, the field is situated in Petroleum Prospecting License (PPL) 259.