Author: majorwavesen

Dangote’s Dollar-Denominated Pricing: A Test of Nigeria’s Petroleum Market Deregulation, Not a Departure from It   Dangote Petroleum Refinery’s decision to quote ex-depot prices for PMS, AGO, and aviation fuel in United States dollars has generated understandable public interest because of its implications for pump prices, petroleum marketers, and the broader downstream market. This commentary…

IPPG Urges Bold Reforms to Unlock Nigeria’s Full Energy Potential   The Independent Petroleum Producers Group (IPPG) has called for bold, coordinated reforms to reposition Nigeria’s oil and gas industry from a resource-based economy to a globally competitive engine of industrial growth and national prosperity. Speaking at the opening ceremony of the 25th NOG Energy…

Boost for Nigerian content as Shell awards $518 million contracts in 2025 Shell Companies in Nigeria awarded contracts worth $518 million to indigenous companies last year in a big boost to the development of Nigerian content in oil and gas operations. Similarly, some 123 indigenous companies were engaged across the value chain of Shell businesses…

FIRST E&P Backs Next Generation of Nigerian Engineers at Olympiad Finale   …Modibbo Adama University Emerges Grand Prize Winner, Secures N50M FIRST Exploration & Petroleum Development Company (FIRST E&P), a leading integrated independent Exploration & Production company with full-cycle upstream delivery capability, has reaffirmed its commitment to developing Nigeria’s next generation of engineers. This commitment…

Dangote Cracks Down on Illegal Haulage, Offers N500, 000 Rewards for Whistleblowers   …Illegal goods on Dangote Trucks to Be Confiscated Dangote Industries Limited has intensified efforts to combat illegal haulage activities involving its trucks by unveiling a public whistleblowing initiative that offers a cash reward to individuals who provide credible information leading to the…

UAE Oil Output Hits All-Time High, Doubling Pre-Crisis Levels   The United Arab Emirates (UAE) produced 4.1 million barrels per day (bpd) of crude oil in June, its highest output ever, according to estimates by the International Energy Agency. The UAE’s crude oil production jumped from 3.3 million bpd in May to 4.1 million bpd…

IEA Cuts Russia’s Oil Production Forecast Due to Ukrainian Attacks   Russia’s oil production in 2026 and 2027 is set to be lower than previously expected, due to intensified Ukrainian drone attacks on Russia’s energy infrastructure, the International Energy Agency said in its monthly oil market report on Friday. Russia produced on average 9.2 million…

IEA Warns Renewed U.S.-Iran Conflict Could Upend Oil Surplus Forecast   Despite the tentative recovery of oil flows through the Strait of Hormuz and the first build-up in global stocks since the war began, this week’s re-escalation of the U.S.-Iran hostilities could flip the outlook for an oil market surplus for next year, the International…

NIPCO Delivers N1.98trn Revenue and N1bn Dividend to Shareholders Despite 2025 Downstream Turbulence   NIPCO Plc has assured shareholders that strategic diversification and disciplined capital allocation enabled the company to deliver strong returns despite turbulence in the downstream sector in 2025. Speaking at the sidelines of the 22nd Annual General Meeting of the company held…