Trump Revokes Chevron’s Venezuela Oil License Over Electoral Concerns U.S. President Donald Trump announced Wednesday that he is revoking a key license allowing Chevron to operate in Venezuela, citing a lack of progress on electoral reforms and the repatriation of Venezuelan migrants. In a statement on his Truth Social platform, Trump declared he was “reversing…
IEA, IEF, and OPEC Unite Industry Leaders for Crucial Talks on Energy Security. The International Energy Agency (IEA), the International Energy Forum (IEF), and the Organization of the Petroleum Exporting Countries (OPEC) brought together top policymakers and industry leaders today at the 15th IEA-IEF-OPEC Symposium on Energy Outlooks. This annual flagship event fosters vital…
Microsoft Pledges $1M to Train One Million Nigerians in AI Microsoft has committed $1 million over the next two years to enhance Artificial Intelligence (AI) skills for one million Nigerians, aiming to drive digital innovation and economic growth. The announcement was made by Microsoft’s Country Manager for Nigeria, Ola Williams, during the launch of the…
Dangote, NNPCL Refineries Supplying Less Than 50% of Nigeria’s Fuel Demand – FG Despite a combined refining capacity of 985,000 barrels per day, Nigeria’s three operational refineries contribute less than 50% of the nation’s daily petrol consumption, according to the Federal Government. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) revealed that the shortfall…
Dar es Salaam Declaration: Africa Commits to Universal Energy Access The Dar es Salaam Declaration has marked a significant milestone in Africa’s pursuit of universal energy access, with leaders and development partners committing to electrifying 300 million people by 2030. The commitment was formalized at the African Energy Summit: Mission 300, held in Dar es…
Oil Prices Dip Amid Potential Ukraine Peace Talks and Rising U.S. Crude Stocks. Oil prices edged lower on Thursday as the possibility of peace negotiations between Russia and Ukraine, coupled with a rise in U.S. crude inventories, put downward pressure on the market. Brent crude futures fell by 42 cents, or 0.6%, to $74.76 per…
Oil Prices Under Pressure Amid Escalating US-China Trade War. Global oil prices faced renewed pressure as concerns over the ongoing US-China trade war heightened fears of an international economic slowdown. West Texas Intermediate (WTI) crude settled at $58.43 per barrel, marking a 0.3% decline, while Brent crude closed at $68.82 per barrel, down by 13…
EU Delays Russian LNG Ban Amid Supply Concerns, Say Diplomats. The European Commission has refrained from proposing a ban on Russian liquefied natural gas (LNG) in its latest sanctions package, as EU member states prioritize securing alternative supplies, including from the United States, diplomatic sources revealed. “First, you need to have a deal, because otherwise,…
Savannah Energy Reports $258.7m Revenue for 2024 Savannah Energy Plc, a UK-based independent energy company, has announced a slight dip in its total revenue for the 2024 financial year, recording $258.7 million compared to $260.9 million in 2023. Despite this marginal decline, the company reported a significant boost in total income, which rose to $393.6…
179 Oil Theft Incidents Uncovered in One Week – NNPC Ltd. The Nigerian National Petroleum Company Limited (NNPC) has reported uncovering 179 cases of crude oil theft within a single week, reflecting the ongoing efforts to combat vandalism and secure hydrocarbon infrastructure. Between January 11 and 17, 2025, incidents across the Niger Delta region included…
