Sahara Group Joins UN Global Compact, Strengthens ESG Commitment Sahara Group, a leading global energy and infrastructure conglomerate, has officially joined the United Nations Global Compact (UNGC), reinforcing its commitment to Environmental, Social, and Governance (ESG) principles. By joining the UNGC, Sahara Group aligns itself with thousands of global businesses dedicated to responsible corporate practices,…
CBN Maintains 27.5% Interest Rate, Holds Key Monetary Policy Parameters The Central Bank of Nigeria (CBN) has decided to retain the country’s benchmark interest rate at 27.5%, along with all other key monetary policy parameters. The decision was made during the 299th Monetary Policy Committee (MPC) meeting held in Abuja. Announcing the decision at a…
Oil Prices Hold Steady, Poised for Weekly Gain Amid Rising Demand and Supply Concerns Oil prices remained stable on Friday, heading for a weekly gain as demand prospects in the U.S. and China improved, while concerns over supply disruptions in Russia continued to support the market. According to Reuters, Brent crude futures dipped slightly by…
EU Looks to U.S. Gas, Renewables to Cut Reliance on Russian Energy The European Union is ramping up efforts to replace Russian gas supplies by increasing imports from countries like the United States while accelerating its transition to renewable energy, according to EU Energy Commissioner Dan Jorgensen. In response to Russia’s 2022 invasion of Ukraine,…
MEMAN Pushes for Rail Transport to Enhance Fuel Distribution Safety The Major Energies Marketers Association of Nigeria (MEMAN) has urged the Federal Government to reintroduce rail transport for fuel distribution, citing its potential to significantly reduce the high number of fuel tanker accidents on Nigerian roads. Speaking in an interview on Saturday in Lagos, MEMAN’s Chief…
TREXM Holdings Joins as Sponsor for Lagos Energy Week 2025 By the Society For Petroleum Engineers (SPE) Lagos Section TREXM Holdings is proud to be one of the sponsors of the highly anticipated Lagos Energy Week 2025, a significant event in shaping the future of Nigeria’s energy sector. With this significant sponsorship, TREXM Holdings underscores…
Shell Advocates Stronger Partnerships to Boost Nigeria’s Economy The Shell Petroleum Development Company of Nigeria Limited (SPDC) has emphasized the need for sustained collaboration between professional associations in the oil and gas industry and government agencies to enhance Nigeria’s socio-economic development. Speaking at the 60th Annual International Conference of the Nigerian Mining and Geosciences Society…
NOG Energy Week 2025 Extends Call for Papers Deadline Amid Major Industry Milestone Abuja, Nigeria – The deadline for submitting papers for the 24th NOG Energy Week has been extended to February 21, 2025, giving industry experts more time to contribute to Nigeria’s leading energy conference and exhibition. Under the theme “Innovating Today’s Technology for…
G7 Weighs Further Tightening of Price Cap on Russian Crude In a related international development, Bloomberg has reported that the Group of Seven (G7) is considering a collective move to tighten its oil price cap on Russian petroleum. Current proposals suggest that finance ministers may be tasked with redrawing the cap—presently set at $60 per…
NNPC GCEO Rejects Claims of Substandard Fuel Quality Speaking at a fireside chat during the 60th Nigeria Mining & Geosciences Society (NMGS) Conference in Abuja, Mr. Kyari dismissed the circulating narratives of substandard fuel as “unfortunate drama” and “bad marketing antics.” “The talk around fuel quality is unfortunate and a very bad marketing practice. It’s…
