July 25, 2025 Shell has taken a final investment decision (FID) on the development of the Mina West offshore gas field in Egypt’s Mediterranean waters, a move aimed at alleviating the country’s widening domestic supply gap and reinforcing its integrated gas strategy. The announcement, made jointly with Kuwait Foreign Petroleum Exploration Company (KUFPEC), comes as […]Read More
…Dangote Refinery imports 9-10m barrels of crude monthly from US, others Dangote said Africa is increasingly becoming a destination for cheap, often toxic petroleum products, many of which are blended to substandard levels that would not be permitted in Europe or North America. This concern was raised by the President/Chief Executive, Dangote Industries Limited, Aliko […]Read More
President Bola Tinubu extends his heartfelt felicitations to Senator Gbenga Ashafa, former Managing Director/Chief Executive Officer of the Federal Housing Authority (FHA), on his 70th birthday, July 22. A chieftain of the All Progressives Congress (APC), Senator Ashafa represented the Lagos East Senatorial District in the National Assembly from 2011 to 2019. As Chairman of […]Read More
Tinubu on Friday appealed to power generation companies (GENCOs) to give the federal government more time to complete the verification and validation of longstanding debts owed to them. During a meeting with members of the Association of Power Generation Companies, led by Col. Sani Bello (rtd), at the Presidential Villa in Abuja, the President assured […]Read More
The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk A. Ahmed, has emphasized the need for an African reference market for refined petroleum products to promote price discovery, transparency, and market development. Speaking at a two-day strategic engagement organized by NMDPRA in partnership with S&P Global, Ahmed noted that […]Read More
Jul 22, 2025 EU launches its 18th sanctions package, lowering Russia’s oil price cap to around $47.60/barrel and targeting the energy sector more aggressively. Loopholes remain widespread, with Greek-owned tankers helping transport Russian oil, and non-OECD nations like China and India continuing to import above the cap. Without stronger enforcement, including naval oversight and EU […]Read More
Jul 22, 2025 Chevron is approaching a production plateau in the Permian Basin and is shifting its strategy from prioritizing growth to generating significant free cash flow. The company is reducing its drill rigs and frack crews, which is expected to boost free cash flow from the Permian by billions annually by 2027. Chevron’s long-term […]Read More
July 22, 20254 Oil prices declined on Tuesday as concerns the brewing trade war between major crude consumers the U.S. and the European Union will curb fuel demand growth by lowering economic activity weighed on investor sentiment. Brent crude oil futures fell 52 cents, or 0.75%, to $68.69 a barrel by 0325 GMT. U.S. West […]Read More
310 million people have gained access to electricity since 2015, meaning that 92 percent of the world’s population now has basic access to electricity. The greatest growth in access between 2020 and 2023 occurred in Central and South Asia. Electrification reaches more people Nearly 92 percent of the world’s population now has basic access to electricity. Over […]Read More
Jul 21, 2025 Crude oil prices experienced a modest gain following the European Union’s (EU) approval of its 18th sanctions package against Russia, specifically targeting its energy industry with a lower price cap and sanctions on energy companies. Analysts from ING suggest that the latest sanctions package is unlikely to significantly impact oil trader sentiment […]Read More
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