Jul 14, 2025 Global oil consumption reached an all-time high in 2024, driven primarily by non-OECD countries, with the U.S. remaining the largest consumer. The U.S. continues to lead the world in total oil production, contributing to a record global output despite a slowdown in its growth rate. The 2025 Statistical Review reveals key shifts […]Read More
July 13, 2025 Sahara Energy Resource Limited (Isle of Man) (“Sahara”) is pleased to announce the successful closing of a USD 225 million unsecured, committed Revolving Credit Facility (RCF). The facility was significantly oversubscribed, underscoring the confidence of the international financial community in Sahara’s business model, performance, and strategic vision of bringing energy to life […]Read More
Jul 11, 2025 The crude oil market traded with sharp volatility this week as traders balanced OPEC+ production increases, renewed geopolitical risks, and the threat of U.S. tariffs against evidence of strong underlying demand. This interplay shaped price action, with the market testing downside levels but finding bids on signs that supply additions may be […]Read More
Managing Director and CEO of Renaissance Africa Energy Company Limited, Tony Attah, has called for a review of the Petroleum Industry Act (PIA) to align with current economic and sector realities. Speaking on the theme “Nigeria Oil and Gas: From Reforms to Recovery,” at the 2025 BusinessDay Annual CEO Nigeria Forum held in Lagos on […]Read More
Leading energy and infrastructure conglomerate, Sahara Group, has said the second edition of Asharami Square, its flagship thought leadership platform, will explore important gas-related options as Africa seeks various opportunities to enhance energy access and security across the continent. Scheduled for Friday, July 11, 2025, at the Radisson Blu Hotel, Ikeja, Lagos, the event is […]Read More
July 6, 2025 The Dangote Petroleum Refinery has been recognised as capable of alleviating the ongoing inflation in Nigeria, following the recent report by the Financial Derivatives Company (FDC) Limited, a prominent economic policy researcher. In its July Executive Breakfast Presentation for the Lagos Business School (LBS), FDC emphasized that the refinery’s operations, particularly its […]Read More
Jul 05, 2025 Ecuador’s state oil company, Petroecuador, has declared force majeure on its operations after both major crude pipelines, SOTE and OCP, halted flows due to worsening erosion in the Amazonian province of Napo. The company suspended activities this week to prevent further damage to critical infrastructure as erosion along the Coca River continues […]Read More
Engr. Chichi Emenike, Acting Managing Director and Gas Asset Manager, Neconde Energy Limited (OML 42), has called on the Federal Government to urgently address the numerous bottlenecks obstructing investment in Nigeria’s upstream petroleum sector. Emenike made the call on Wednesday in Abuja while speaking to newsmen after a panel session at the ongoing 2025 Nigeria […]Read More
Jul 01, 2025 UK energy regulator, Ofgem, has given the provisional green light to an investment program of $33 billion (£24 billion) to maintain essential gas distribution networks and expand the power grid in a move to boost energy security and allow more renewables to enter the electricity system. A total of $20.7 billion (£15 […]Read More
Jun 30, 2025 U.S. gas prices have dropped to their lowest Independence Day level in four years, with the national average now at $3.14 per gallon, according to GasBuddy. The dip is driven by a retreat in Middle East tensions and consistent supply from both U.S. shale producers and OPEC+ exporters. Brent crude futures have fallen […]Read More
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