Nigeria currently accounts for 33 per cent of the total gas reserves in Africa, the Federal Government said on Monday.
British Gas owner Centrica has signed a £6.2bn ($8bn) mega deal with US fossil fuel producer Delta Midstream, in a welcome boost for the UK’s power supplies.
The local content in Nigeria’s oil and gas sector has experienced a significant surge, recording a rise of about 54 per cent in 2022 compared to 26 per cent in 2017.
Given the economic mayhem that energy price-fuelled inflation has caused for Western governments since Russia’s invasion of Crimea, the last thing they want is another oil production shutdown in Libya that would push oil prices higher again.
Recently, a number of headlines recently have referred to the world’s “hottest frontier oil play,” a site of massive oil and gas finds with great promise for investors
The average daily petrol consumption by Nigerians fell by 28 per cent since President Bola Tinubu scrapped the country’s costly subsidy on fuel on May 29, data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has shown.
RIYADH: US energy firms last week added oil and natural gas rigs for the first time in 10 weeks due to the biggest weekly increase in gas rigs since October 2016, energy services firm Baker Hughes Co. said in its closely followed report.
The United Arab Emirates has announced that it will not join Saudi Arabia in making voluntary oil production cuts, claiming that the cuts by the Saudis are enough to balance the markets.
The government of Iraq and TotalEnergies earlier today signed a long-awaited deal worth $27 billion that should see Iraq’s oil production grow and boost its reliance on domestic gas for power generation.
Angola, a country rich in natural resources, has been striving to diversify its economy and reduce its dependence on oil.