Jul 17, 2025 Chevron has effectively reached its long-term production goal of 1 million barrels of oil equivalent per day (boe/d) in the Permian Basin—and from here, it’s shifting gears. According to Bruce Niemeyer, president of Chevron’s shale business, the company now plans to hold production steady through 2040 while cutting rigs and frack crews—locking […]Read More
ExxonMobil has appointed Mr. Jagir Baxi as Chairman and Managing Director, and Lead Country Manager, of its affiliates in Nigeria, including Esso Exploration and Production Nigeria Limited and Esso Exploration and Production Nigeria (Offshore East) Limited, succeeding Mr. Shane Haris. Jagir brings a wealth of experience and proven leadership to his new role, where he […]Read More
Jul 14, 2025 Global oil consumption reached an all-time high in 2024, driven primarily by non-OECD countries, with the U.S. remaining the largest consumer. The U.S. continues to lead the world in total oil production, contributing to a record global output despite a slowdown in its growth rate. The 2025 Statistical Review reveals key shifts […]Read More
Jul 14, 2025 Freight rates for Russian Urals Crude oil from Baltic ports to India have dipped again in July, falling to $5.0–$5.3 million per Aframax shipment—down from $5.5–$5.7 million in June—as more tankers become available. But traders warn: don’t get too comfortable. A new round of EU sanctions and a pending statement from Donald […]Read More
Jul 11, 2025 The crude oil market traded with sharp volatility this week as traders balanced OPEC+ production increases, renewed geopolitical risks, and the threat of U.S. tariffs against evidence of strong underlying demand. This interplay shaped price action, with the market testing downside levels but finding bids on signs that supply additions may be […]Read More
Lagos, Nigeria, July 11, 2025: The Chief Executive Officer (CEO) of Egbin Power Plc, Mokhtar Bounour, has reaffirmed the company’s unwavering commitment to driving sustainable development in Nigeria’s power sector during the Shell Power Conference 2025. The conference, held in Ikeja, Lagos, under the theme “Powering Nigeria’s Energy Future: Bridging the Gap Between Ambition and Action,” […]Read More
Lagos, Nigeria – July 11, 2025 Asharami Square, energy experts and government functionaries unanimously affirmed natural gas as Africa’s transformational fuel for bridging energy and powering industrialisation. It was asserted during the second edition of Sahara Group’s thought leadership forum. The forum which held today in Lagos, Nigeria highlighted Gas as the bridge between energy […]Read More
Jul 09, 2025 Global oil markets have been soaking up the additional barrels OPEC+ has been producing since the spring without inventory builds, suggesting that the market needed the higher supply, according to Suhail al-Mazrouei, the energy minister of one of OPEC’s top producers, the United Arab Emirates (UAE). “You can see that even with […]Read More
July 08, 2025 Africa’s upstream oil and gas sector is undergoing a transformative shift. In recent years, majors have scaled back their exposure to mature, non-core assets across the continent, opening the door for a new wave of regional independents, traders, and non-African national oil companies (NOCs) to step in as consolidators and value creators. […]Read More
July 7, 2025 President Bola Tinubu has called for a reevaluation of the current global governance structure and the financial and healthcare systems, urging greater equity and inclusion for low-income and emerging economies, particularly in Africa. At the 17th meeting of the Global South and the Emerging Economies bloc, BRICS, on Saturday in Rio de […]Read More
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