Nigeria has slashed entry fees for its 2025 oil licensing round, reducing signature bonuses to between $3 million and $7 million as the government seeks to revive production and draw fresh capital into the upstream petroleum sector.
Mathieu Castellani, managing director of Ponticelli Nigeria, talks to The Energy Year about ramping up local fabrication to deliver complex offshore projects and building a stable growth path through maintenance services. In Nigeria, Ponticelli operates as an integrated oil and gas contractor focused on engineering, construction and maintenance.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has confirmed the discovery of significant volumes of oil across multiple reservoir zones in the Awodi-07 well, located in the shallow offshore western Niger Delta.
Nigeria National Petroleum Company Limited and Chevron Nigeria Limited, through their joint venture NNPCL/CNL JV, have made an oil discovery in the Awodi-07 offshore well in Nigeria’s Niger Delta, the companies announced on Friday.
Despite two decades of being handed preferential access to global markets, Nigeria remains trapped in oil dependence as many deals fail to deliver the much-needed diversification.
Africa’s largest crude oil producer, Nigeria, attracted $5.3 billion in upstream capital investment in 2025, accounting for about 38 per cent of all major project sanctions on the continent over the past 24 months.
The West African Gas Pipeline Company (WAPCo) has announced that it will shut down its gas receiving facilities in Nigeria, Benin, Togo, and Ghana between Sunday, January 18 and January 31, 2026 for routine maintenance works.
Nigeria’s crude oil production slipped in December from November as Africa’s top producer continues to struggle to pump to its full OPEC+ output quota amid operational challenges in its upstream sector.
Nigeria is betting on green finance to drive its energy transition with the president unveiling plans for a $2 billion climate fund on Tuesday, saying oversubscribed green bonds were proof of investor appetite.
TotalEnergies has signed an agreement to sell its 10% interest in a Nigerian joint venture, the company said on Monday.