President Bola Tinubu on Thursday signed into law the four new tax bills recently passed by the National Assembly, describing the new laws as pivotal to the success of the administration’s reforms and the country’s prosperity. The bills are the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws […]Read More
The Federal Government  (FG) is considering strategic interventions to address power tariff challenges affecting gas supply and payment structures at key NNPC-led thermal power plants. This development emerged during a high-level meeting at NNPC Towers in Abuja between Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo; Minister of Finance and Coordinating Minister […]Read More
Jun 26, 2025 The United States ( U.S. ) has lifted a restriction on exports of ethane, a petrochemical feedstock, to China, but only under certain conditions, Reuters has reported, citing an unnamed source and a letter sent by the government to the two largest exporters, Energy Transfer, and Enterprise Products. China is the largest importer […]Read More
Jun 26, 2025 Shell said on Thursday it hasn’t actively considered an offer for BP and has no intention of making such a bid, after a media report earlier this week rekindled speculation about a giant energy tie-up of the two UK-based rivals. On Wednesday, BP shares jumped by nearly 7% before paring the bulk of those gains after The […]Read More
June 25,2026 Crude oil inventories in the United States fell by 5.8 million barrels during the week ending June 20, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The drop brings commercial stockpiles to 415.1 million barrels, roughly 11% below the five-year average for this time of year. Crude […]Read More
Jun 24, 2025 Nigeria’s Economic and Financial Crimes Commission has arrested two ex-oil officials, including the former chief financial officer (CFO) of Nigeria’s state energy firm NNPC, over an alleged $7.2-billion fraud, corruption, and abuse of office. The financial crimes authorities have arrested Umar Ajiya Isa, a former CFO at NNPC, as well as Jimoh Olasunkanmi, a […]Read More
National governments in the EU would soon be allowed to subsidize companies struggling with exorbitant energy costs, according to a Politico report suggesting the bloc is about to change its strict no-subsidy rules. The change will be in the form of a new clause in the EU’s guide to low-emission energy growth, dubbed the Clean Industrial Deal […]Read More
Jun 25, 2025 The war between Israel and Iran has spark worry about energy supply security in Beijing, and a greater interest in the Power of Siberia 2 pipeline—a project proposed by the Russian side, on which the Chinese side has been in no hurry to make a decision. The Wall Street Journal reported the news, citing […]Read More
Jun 24, 2025 LNG shipping costs have surged to the highest in eight months as shipowners assess Middle East risks and hold off chartering vessels, reducing available ships, while price signals in Asia are favoring cargoes going to the Pacific market. Both the Atlantic and Pacific freight rates jumped on Monday to their highest levels […]Read More
Jun 24, 2025 Russia could use its excess natural gas to power AI data centers or crypto mining operations, Russian officials have said, as Moscow’s pipeline gas exports to Europe have collapsed and led to an oversupply at home. The gas supply via pipelines to Europe has slumped since 2022, after Russia cut off many […]Read More
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