Jun 19, 2025 Zhongman Petroleum and Natural Gas Group (ZPEC), an independent Shanghai-listed Chinese oil and gas company, has won a licensing contract to explore a natural gas block in central Algeria, the firm has said. Algeria’s National Agency for the Valorization of Hydrocarbon Resources, ALNAFT, has awarded the Chinese firm an exploration contract for the […]Read More
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced a revenue of N5.89 billion and a Profit After Tax (PAT) of N748 billion for the month of April. The NNPC Ltd. disclosed this in its Monthly Report Summary for April, released on Thursday. The report highlights key statistics, including crude oil and condensate production, […]Read More
The Midstream and Downstream Gas Infrastructure Fund (MDGIF) says it will continue to prudently invest in economically valuable and viable projects that seek to increase domestic consumption of natural gas in Nigeria. The Executive Director, MDGIF, Mr Oluwole Adama, said this on Thursday at the commissioning of the MDGIF/FEMADEC Integrated CNG Refuelling Infrastructure at Yakubu […]Read More
To sustain refining operations the Dangote oil refinery has placed import order of at least five million barrels of U.S. West Texas Intermediate (WTI) crude oil in July, thus extending its buying spree after a potential record tally for June. The giant new 650,000 barrel per day capacity oil refinery is set to import around […]Read More
May 19, 2025 The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) is compelled to express deep concern over the persistent delays in the completion of the ongoing rehabilitation of the 210,000 barrels per day Port Harcourt Refinery, Warri Refinery, and Kaduna Refinery. Despite numerous assurances from the Nigerian National Petroleum Corporation (NNPC) and […]Read More
The Managing Director/CEO of 11PLC, Tunji Oyebanji, has outlined two critical areas presenting opportunities for growth and development in Nigeria’s oil and gas sector if properly administered in 2025 and beyond. Oyebanji, speaking to shareholders at the company’s 47th Annual General Meeting held at the Abuja Continental Hotel, FCT, Abuja highlighted the enormous growth trajectory […]Read More
The Presidential Compressed Natural Gas Initiative (P-CNGi) and LNG Arete Ltd. on Friday signed a Memorandum of Understanding (MoU) on $27.3 million gas plant project to boost CNG infrastructure investment, expansion and availability. The Programme Director/Chief Executive Officer, P-CNGi, Mr Michael Oluwagbemi, said the partnership aimed at constructing a Liquefied Natural Gas (LNG) plant with […]Read More
Nigeria is advancing with a new policy framework aimed at revitalising its natural gas sector, seeking to attract up to $10 billion in investment. The proposed measures offer tax incentives to entice both local and international investors to tap into the country’s deep-water gas reserves. The framework, already approved by the Federal Executive Council, is […]Read More
President Bola Tinubu has announced that the elimination of the fuel subsidy has significantly cut Nigeria’s daily petrol consumption, reducing it from several million litres to approximately 30 million litres. Speaking on Thursday during a meeting with former lawmakers at the State House in Abuja, President Tinubu highlighted that the subsidy’s removal has given the […]Read More
Libya’s crude oil exports are projected to fall by at least 300,000 barrels per day (bpd) in September, despite a modest recovery in production. Analysts at FGE have reported that Libya’s crude production has risen by around 200,000 bpd since the beginning of the month, now standing between 650,000 and 700,000 bpd. However, exports from […]Read More
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