December 25, 2025 Heritage Energy Operational Services Limited, operators of Oil Mining Lease 30, on Tuesday signalled a turnaround in the asset’s fortunes, declaring that years of behind-the-scenes restructuring, investment and governance reforms are now translating into rising production, stronger reserves and improved stakeholder confidence. Speaking at a media stakeholders’ engagement in Lagos, the General […]Read More
December 24, 2025 BP has agreed to divest a majority stake in its Castrol lubricants business to Stonepeak at a $10 billion enterprise value, generating roughly $6 billion in proceeds to accelerate debt reduction and streamline its downstream portfolio. BP reached the deal following a strategic review of Castrol, concluding in a sale that values the business […]Read More
December 22, 2025 Russia is expected to deliver 25% higher volumes of natural gas via pipeline to China this year, compared to 2024, an anonymous source with knowledge of the flows told Reuters on Monday. Russia has been boosting both its pipeline and liquefied natural gas (LNG) exports to China this year, as its sales are being […]Read More
December 22, 2025 Shell and INEOS Energy have struck oil at a deepwater exploration well in the U.S. Gulf of Mexico, confirming a new discovery in the high-pressure Norphlet formation. Shell and INEOS Energy said the Nashville exploration well encountered high-quality oil more than 26,000 feet below the seabed, according to industry reporting The well was drilled […]Read More
December 21, 2025 President Bola Ahmed Tinubu has commended Borno State Governor, Prof. Babagana Umara Zulum, for people-oriented governance and sustained commitment to the welfare of residents. The President gave the commendation on Monday during a state visit to Borno State, where he commissioned transport vehicles, including 20 Compressed Natural Gas (CNG) 48-seater buses, 3,000 buses, 500 […]Read More
December 21, 2025 Heirs Energies Limited has executed a $750 million financing with the African Export–Import Bank (Afreximbank). The transaction was sealed at a signing ceremony in Abuja on Saturday 20th December 2025. Signed by Mr. Tony O. Elumelu, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank. The transaction, according […]Read More
19 December 2025 The Office of the Special Adviser to the President on Energy welcomes the issuance of the first bond under the Presidential Power Sector Debt Reduction Programme. Issued by NBET Finance Company Plc, a Special Purpose Vehicle (“SPV”) of the Nigerian Bulk Electricity Trading (NBET) Plc, the ₦590 billion Series 1 Power Sector […]Read More
December 19, 20255 Nigeria expects a budget deficit worth 4.28% of gross domestic product in 2026, President Bola Tinubu said as he announced the government’s 58.18 trillion naira ($40 billion) spending plan aimed at consolidating economic reforms and boosting growth. The deficit will come to roughly 23.85 trillion naira, he told lawmakers on Friday. The […]Read More
December 18, 2025 Israel’s agreement to supply Egypt with 130 billion cubic meters of natural gas worth $35 billion through 2040 has been approved after pressure from Washington, with Egypt emphasizing the deal is “purely commercial,” according to Egypt’s State Information Service, adding that the deal was struck by private energy companies with zero government […]Read More
December 18, 2025 The abrupt resignation of Nigeria’s top petroleum regulator shortly after the launch of one of the country’s largest oil block auctions in years has sparked fresh concerns. Gbenga Komolage, head of the Nigerian Upstream Petroleum Regulatory Authority, and Farouk Ahmed, head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, have both resigned. Their […]Read More
