Nigeria is among 14 African nations set to benefit from a new $11.3 million renewable energy initiative backed by the African Development Bank (AfDB) and its partners, aimed at expanding electricity access in fragile and underserved communities. The funding follows the approval of a $5.65 million reimbursable grant by the AfDB’s Board of Directors through […]Read More
March 26, 2026 Saudi crude oil exports to its two biggest clients, India and China, are on course to decline in April because of the production disruptions in the Middle East, Bloomberg reported earlier today, citing traders. The traders said Saudi oil exports to the Chinese market were seen at some 40 million barrels, down […]Read More
Mainpower Electricity Distribution Limited (MEDL) today engaged key industry stakeholders and potential investors at the Enugu State Investor Forum, held at the International Conference Center, Enugu. Major discussions at the event centered on investment opportunities in Enugu State’s electricity market, vendor financing, and the Smart Metering Demonstrator – a pilot project implemented by the United […]Read More
March 25, 2026 COSCO Shipping Lines, China’s largest shipping company, has officially resumed new booking services for container shipments from the Far East to several key Middle Eastern destinations, with the United States and Iran currently engaged in ceasefire talks, despite statements by Tehran that the U.S. military is “negotiating with itself”. COSCO has reinstated […]Read More
Noble Energy EG Ltd. (a Chevron company) with its co-venturers, and the government of Equatorial Guinea have signed agreements for the Aseng Gas Monetization Project. The execution of the agreements is subject to relevant approvals and is a critical milestone towards the approval and implementation of the project, a statement has said. Speaking on the […]Read More
India, the world’s third-largest importer of crude oil, is showing little enthusiasm for resuming purchases of Iranian crude, even after the United States issued a temporary waiver easing sanctions. According to sources familiar with the matter, Indian state refiners are hesitating due to ongoing concerns about shipping logistics, insurance coverage, and payment mechanisms, Bloomberg reported […]Read More
March 24, 2026 Kaja Kallas, the High Representative of the European Union for Foreign Affairs and Security Policy, on Monday met with President Bola Tinubu, assuring him of stronger ties in security and trade despite global economic volatility. The meeting was held at the President’s Lagos home. The National Security Adviser (NSA), Malam Nuhu Ribadu […]Read More
The Nigeria Employers’ Consultative Association (NECA) has raised concerns over the impact of surging global oil prices on Nigeria, highlighting a resultant rise in energy costs that is affecting both businesses and households. Reacting to the ongoing tensions in the Middle East and their ripple effects on global oil markets, NECA’s Director-General, Mr. Adewale-Smatt Oyerinde, […]Read More
March 23, 2026 Brent crude is seen averaging $85 per barrel this year, and West Texas Intermediate could see an average price of $79, Goldman Sachs commodity analysts said in a note released Sunday. They added that the supply loss from the crisis is going to peak at 17 million barrels daily. The price update […]Read More
The Ministry of Petroleum Resources has initiated discussions with the Public Service Institute of Nigeria (PSIN) to strengthen collaboration on capacity building and human resource development. This development was brought to the fore during a courtesy visit by a delegation from the Public Service Institute of Nigeria (PSIN) to the Ministry of Petroleum Resources on […]Read More
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