The Nigerian Content Development and Monitoring Board (NCDMB) has emphasised the need for stronger collaboration among oil and gas-producing countries in Africa in local content development to achieve energy sufficiency and sustainable growth. Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe made the call while delivering a keynote address titled “Africa’s Local Content Collaboration Strategy” …
Senegal’s oil production reached 36.1 million barrels in 2025, exceeding initial projections of 30.53 million barrels and the mid-year estimate of 34.7 million, the Ministry of Energy, Oil and Mines reported on Wednesday. Authorities credited the overperformance to well-maintained reservoirs, robust operational performance, and effective well maintenance. READ ALSO: Senegal Unveils Bold Economic Recovery Plan …
China’s oil market is expected to remain largely insulated from recent disruptions in Venezuelan crude exports, at least in the near term, thanks to pre-arranged shipments, abundant floating storage, and subdued seasonal demand, analysts and traders say. The disruption follows the U.S. seizure of a tanker off Venezuela’s coast last week, coupled with new sanctions …
Oil prices steadied on Monday as optimism over a possible trade deal framework between the United States and China helped counter persistent concerns about weak global crude demand. Brent crude futures slipped by 14 cents, or 0.2%, to $65.70 per barrel at 12:27 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 9 cents to …
Ethiopia on Tuesday inaugurated the Grand Renaissance Dam, Africa’s largest hydroelectric project, aimed at boosting its economy, ending frequent blackouts, and supporting the growth of electric vehicles. The country has already banned the importation of gasoline-powered vehicles. As waters from the reservoir powered the turbines, Ethiopians dressed in colourful regalia gathered in Addis Ababa to …
The federal government has dismissed claims that it increased the pump price of Compressed Natural Gas (CNG), clarifying that recent adjustments were made by private investors. In a statement on Thursday, the Brands and Corporate Communications Manager of the Presidential Compressed Natural Gas Initiative (PCNGI), Matilda Johnson, described reports attributing price hikes to government directives …
By Esther Ososanya Hon. Ikeagwuonu Ugochinyere, Chairman of the House Committee on Petroleum Resources (Downstream), has raised alarm over fresh political attempts to sack the statutory leadership of Nigeria’s key petroleum regulatory agencies, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). “We didn’t labour for two …
