The United States Agency for International Development – USAID – and the Federal Ministry of Power has signed a memorandum of understanding to worth N115 billion to boost Nigeria’s power sector reforms, ensuring market transparency, liquidity, and expanding access to affordable power. The MOU was signed by USAID/Nigeria Mission Director Melissa Jones and the Permanent […]Read More

Seplat Energy Plc saw a significant drop on the Nigerian Exchange (NGX) today, with its share price decreasing by 8.30 percent to end at N3,480. This fall also led to a reduction in market capitalization by N185.16 billion. The decline in Seplat Energy’s stock was a key factor in the Nigerian Exchange’s overall decrease of […]Read More

Nigeria has substantially decreased the sulphur content in its imported diesel, according to the National Midstream Downstream Petroleum Regulatory Authority (NMDPRA), as reported by Argus. This action occurs amidst ongoing discussions about the quality of diesel available in the local market. George Ene-Ita, NMDPRA spokesman, informed Argus that due to enforcement and compliance by importers, […]Read More

Shell Overseas Holdings Limited, a subsidiary of Shell plc (Shell), has signed an agreement to invest in the Abu Dhabi National Oil Company’s (ADNOC) Ruwais liquefied natural gas (LNG) project in Abu Dhabi through a 10 percent participating interest. “This investment decision builds on our long-standing partnership with ADNOC,” said Shell’s Chief Executive Officer Wael […]Read More

Italy’s supermajor Eni has announced a significant natural gas discovery in the mid-deep waters of the Gulf of Mexico, off the Mexican coast. The new find holds an estimated 300 to 400 million barrels of oil equivalent, according to Eni. The discovery was made in the Sureste Basin, where Eni has already identified over 1.3 […]Read More

TotalEnergies has notified South Africa’s petroleum regulator about its decision to exit the 11B/12B offshore gas field. In 2019, TotalEnergies identified two significant gas reserves in Block 11B and 12B off the southern coast of South Africa. This departure represents a significant blow to South Africa’s plans, which hoped to use the gas to restart […]Read More