March 7, 2026 A European Union flag flutters outside the European Commission headquarters in Brussels, Belgium February 26, 2026. Summary BRUSSELS, March 7 (Reuters) – The European Union is examining energy taxes, network charges and carbon costs as possible areas for short-term measures to ease pressure on industries hit by high energy prices, a document […]Read More
This directive is outlined in Order No: NERC/2026/025, which revises an earlier 2023 directive. The order was signed on February 27, 2026, by NERC Chairman Musiliu Oseni and Commissioner for Legal, Licensing & Compliance, Dafe Akpeneye. Under the updated order, DisCos are required to reimburse the affected customers fully within a 12-month period starting March […]Read More
Zelensky said Iran willingly chose to become Russia’s accomplice by supplying Shahed drones and weapons. For Russia to use against Ukraine. He added that every act of terror and aggression ultimately meets a just response. And Iran just got theirs. Zelensky said Ukraine knows “all too well” what such escalation means. Iran is experiencing the […]Read More
March 6, 2026 President Bola Ahmed Tinubu has overseen the successful resolution of the long-standing dispute over Oil Prospecting Licence (OPL) 245, marking a major milestone for Nigeria’s oil and gas industry and opening the door for a significant deepwater investment capable of boosting the country’s crude oil production. The historic settlement agreement was reached […]Read More
March 6, 2026 President Bola Tinubu on Friday constituted an 11-member committee to ensure the smooth sailing incorporation of the Grid Asset Management Company Limited (GAMCO). The constitution of the committee followed the Federal Executive Council’s approval for the establishment of the company at its Wednesday meeting. In proposing GAMCO, President Tinubu hopes to fast-track […]Read More
Mar 06, 2026 The surge in oil and LNG prices as a result of the Middle East war is testing the resilience of the global economy once again, IMF Managing Director Kristalina Georgieva said on Friday. “The world economy has been remarkably resilient. Shock after shock, and yet growth is at 3.3%,” Georgieva told Bloomberg […]Read More
Mar 06, 2026 Oil prices surged again on Friday, putting crude on track for its biggest weekly gain in years as disruptions to Middle East supply and tanker traffic through the Strait of Hormuz rattle global energy markets. Brent crude was trading above $88 per barrel in early trading, up more than 4% on the […]Read More
… imagined effects on Nigeria’s oil and consumers An LNG market crisis, such as the March 2026 disruption in Qatari supplies, creates immediate global price shocks, intensified Asia-Europe competition for cargo, and severe shipping bottlenecks. It threatens to significantly increase energy costs, force fuel switching, and trigger supply shortages in import-dependent regions, similar to the […]Read More
Mar 05, 2026 Shell and Kazakhstan have signed an agreement for oil and gas exploration in the Zhanaturmys block in western Kazakhstan, the Kazakh Energy Ministry said on Thursday. The agreement – signed by Kazakhstan’s Deputy Energy Minister Yerlan Akbarov and Suzanne Coogan, Senior Vice President and Country Chair at Shell Kazakhstan – entails seismic […]Read More
Mar 05, 2026 The global LNG shipping market has turned sharply higher in recent days, with charter rates for modern LNG carriers surging from roughly $40,000 last week to around $300,000 per day as traders scramble to secure vessels amid escalating disruption in the Middle East. According to shipbroker Fearnleys’ latest weekly LNG report, cited […]Read More
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