Seplat Energy Plc has declared $840.7 million gross revenue in its unaudited results for the for the first quarter 2026 (January-March), representing a 4% increase from $809.3 million recorded same period last year. The oil firm also grew its profit after tax (PAT) to $37.9 million, while declaring US 9.0 Cents total dividend per share […]Read More
April 29, 2026 The OPEC and OPEC+ groups are not expected to falter following the abrupt, but not necessarily surprising, exit of one of the biggest producers, the United Arab Emirates (UAE), according to consultancy Energy Aspects. In a surprise announcement on Tuesday, the UAE said it is quitting OPEC and the wider OPEC+ alliance […]Read More
April 29, 2026 President Bola Ahmed Tinubu, GCFR, has approved the removal of Mr Saidu Mohammed as the AuthorityChief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in the public interest. The President has also approved the nomination of Mr Rabiu Abdullahi Umar as the new Chief Executive of the NMDPRA. The […]Read More
The United Arab Emirates (UAE) will officially leave OPEC and OPEC+ as of May 1, marking the end of nearly 60 years of membership. The country’s state news agency, WAM, confirmed the decision on Tuesday, describing it as one of the most significant exits in OPEC’s history. This departure removes the cartel’s third-largest producer at […]Read More
April 28, 2026 BP (NYSE: BP) more than doubled its profit for the first quarter from a year earlier as oil prices jumped and oil trading boomed amid the war in the Middle East in the latter part of the quarter. BP, the first of the supermajors to announce first-quarter results this earnings […]Read More
Aliko Dangote, President of the Dangote Group, announced plans to expand the production capacity of the Dangote Refinery to 1.4 million barrels per day (bpd), a move expected to create up to 95,000 skilled jobs at the height of construction. This revelation came during his induction as an Honorary Fellow by the Nigerian Academy of […]Read More
24 April 2026 IEA’s latest quarterly report shows how the ongoing supply shock and infrastructure damage are increasing price volatility and pushing back easing of global gas balances The global natural gas market outlook has been significantly altered by the conflict in the Middle East, according to the International Energy Agency’s latest quarterly gas market […]Read More
April 24, 2026 Pakistan’s government is looking to buy crude oil from Russia, Venezuela, and Nigeria to replace lost supply from the Middle East, Pakistan Today reports, adding that the government is also seeking LNG cargoes. Pakistan has suffered a substantial hit from the energy price surge following the start of the war between the […]Read More
April 24, 2026 Crude oil production recovery to pre-war levels could take just a few months, Goldman Sachs analysts said, adding a note of caution that recovery could also take longer than that. The bank estimates lost production in the Middle East at 14.5 million barrels daily as of this month. However, most of that […]Read More
April 24, 2026 Reliance Industries, the biggest oil refiner in India, is expected to report a drop in profits for its fourth quarter to March, driven by the oil price surge caused by the war in the Middle East. Based on a poll of brokerages, Reuters reported Reliance Industries could book a 3.7% decline in […]Read More
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