TotalEnergies Reaffirms Commitment to Nigeria’s Energy Growth TotalEnergies EP Nigeria Limited has reaffirmed its long-term commitment to Nigeria, highlighting 70 years as a downstream operator and 67 years as an upstream operator in the country. Speaking on behalf of the company at the 2026 Association of Energy Correspondents of Nigeria, NAEC, Annual Energy Conference…
NNPC Activates Emergency Response to Eleme Pipeline Incident The Nigerian National Petroleum Company Limited (NNPC Limited) confirms that an explosion occurred on Thursday, 15 October 2026, on a gas pipeline belonging to its subsidiary, NNPC Gas Infrastructure Company Limited (NGIC), in Aleto community, Eleme Local Government Area of Rivers State. The company deeply concerned…
NAPE Pushes Exploration, Local Capacity to Unlock More Oil The Nigerian Association of Petroleum Explorationists (NAPE) has called for increased exploration, stronger indigenous capabilities and the adoption of adaptive technologies to unlock more oil and gas reserves in Nigeria. NAPE President, Mrs Olajumoke Ajayi, made this known at a press briefing in Lagos on Friday ahead of the association’s 44th Annual International Conference and Exhibition, scheduled to hold from November 8 to 12, 2026, at Eko Hotel and Suites, Victoria Island, Lagos. The conference is themed “Unlocking More Barrels: Driving Reserves Growth through Exploration, Local Capabilities and Adaptive Technologies.” Ajayi said Nigeria’s substantial hydrocarbon potential could be translated into increased reserves and sustainable production through renewed exploration, appropriate technologies, stronger local capabilities and an operating environment capable of attracting and retaining investment. She noted that technologies must be adapted to Nigeria’s geological, operational and economic realities to improve exploration success, reduce costs, increase operational efficiency and unlock resources previously considered uneconomic or technically challenging. “Unlocking more barrels requires a coordinated approach built around three interconnected priorities: exploration, local capabilities and adaptive technologies. “Nigeria has substantial hydrocarbon potential, but translating that potential into increased reserves and sustainable production requires more than existing discoveries. It demands renewed exploration, deployment of appropriate technologies, stronger local capabilities and an operating environment capable of attracting and retaining investment.l,” Ajayi said. The NAPE president also stressed the importance of developing indigenous technical, professional and entrepreneurial capabilities to enable Nigerian companies and professionals to participate more effectively across the petroleum value chain while retaining greater value within the country. Speaking at the briefing, NAPE Publicity Secretary, Mrs Somime Oguntola, described the media as strategic partners in communicating industry issues and shaping informed public discourse. The conference will address nine subthemes, including energy security, sustainable energy technologies, emerging geoscience methodologies, reservoir characterisation, artificial intelligence and machine learning applications in exploration and production, energy financing, human capital development, environmental sustainability, host community relations, and the synergy between the Petroleum Industry Act and local content. The programme will feature management and executive sessions, a Techbusiness Forum, the All-Convention Luncheon, technical and professional engagements, exhibitions and networking opportunities. The management session will focus on “Energy Security in an Era of Global Disruption: Positioning Nigeria for Resilience, Competitiveness and Prosperity,” while the executive session will examine “Strengthening Industry Confidence: Fiscal Stability, Governance Reforms and Investment Growth Across Nigeria’s Energy Value Chain.” The Techbusiness Forum will provide a platform for technology companies, original equipment manufacturers, operators and other industry stakeholders to showcase technologies capable of driving exploration and improving operational efficiency. The exhibition will bring together indigenous and international oil and gas companies, technology providers, service companies and equipment manufacturers to showcase solutions for exploration, drilling, production and asset management. NAPE Vice President, Mr. Emmanuel Egbele, also spoke at the briefing, providing a breakdown of activities lined up for the conference. The event will begin with a pre-conference workshop on October 21, 2026, themed “Navigating Nigeria’s Upstream Future: Exploration and Development Approaches vs. Energy Security Demand.” Other activities will include the NAPE Golf Tournament, African Night and Awards Night. NAPE said the conference would provide a platform for discussions on exploration-led reserves growth, investment, technology deployment, indigenous capacity development, energy security and the competitiveness of Nigeria’s petroleum industry. The association added that the gathering would provide opportunities for young professionals and emerging Nigerian companies to engage with industry leaders and global technology providers.
Infrastructure emerges as the critical lever for Africa’s energy security, industrialisation and transition, finds Forvis Mazars energy insights report 12 October 2026 – Forvis Mazars Group, the international audit, tax and advisory services partnership, has released the latest edition of its flagship report on the African Energy sector: « Powering Africa’s Future 2026: Infrastructure, energy…
Shell Sells Nigerian Gas Distribution Business to Vaaris Energy Shell Petroleum B.V. has signed an agreement to sell its entire stake in Shell Nigeria Gas Group to Nigerian energy company Vaaris Energy Limited. The company disclosed the transaction in a statement, saying the deal was subject to regulatory conditions and approvals. According to Shell, the sale aligns with its strategy to simplify its portfolio and concentrate investments on areas where it has competitive strengths. Shell’s Country Chair in Nigeria, Elohor Aiboni, said Shell Nigeria Gas had served industrial and commercial customers across the country for more than 25 years. “Shell Nigeria Gas has served industrial and commercial customers in Nigeria for more than 25 years, supported by the commitment and expertise of its people,” Aiboni said. She added that the agreement would provide a stronger foundation for the company’s future under new ownership. “We believe this agreement provides a much stronger platform for the business’ next chapter under new ownership. Shell continues to focus on strategic Deepwater and Integrated Gas positions in Nigeria,” she stated. Established in 1998, Shell Nigeria Gas Limited operates approximately 170 kilometres of gas pipeline infrastructure across Ogun, Abia and Rivers states. The company supplies natural gas to more than 130 connected commercial and industrial customers. The transaction also covers Shell Nigeria Gas Holding B.V., established in 2019, which owns all but one of the shares in Shell Nigeria Gas Limited. Shell clarified that its domestic gas distribution business does not engage in upstream gas production, liquefied natural gas operations or international gas trading. Until the transaction is completed, Shell Nigeria Gas Group will remain part of Shell, continuing its operations and serving customers as usual. Vaaris Energy Limited is a Nigerian energy company with interests across the oil and gas value chain and an existing operational presence in the country. Following the sale, Shell said it would maintain its focus on deepwater operations and integrated gas in Nigeria, including its interest in Nigeria LNG.
NNPC Profit Jumps 54.5% to N431bn in August 2026 The Nigerian National Petroleum Company Limited (NNPC) recorded a 54.5 per cent increase in profit after tax to N431bn in August 2026, up from N279bn in July. The company disclosed this in its monthly operations and financial report for August 2026. According to the report, NNPC’s revenue increased to N3.74tn in August from N3.09tn recorded in the preceding month, reflecting an improvement in its financial performance. The company also reported a rise in cumulative statutory payments to N9.49tn between January and August, representing an increase of 19.89 per cent from the N7.91tn recorded between January and July. On production, the report showed that average daily crude oil output stood at 1.69 million barrels, while natural gas production averaged 7,680 million standard cubic feet per day during the period. The report also highlighted progress in the company’s pipeline infrastructure, with upstream pipelines recording 100 per cent availability in August. Meanwhile, the Obiafu-Obrikom-Oben (OB3) Gas Pipeline project had reached 100 per cent completion, while the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline project was 95 per cent complete. The latest figures highlight NNPC’s financial and operational performance as it continues to focus on hydrocarbon production, gas infrastructure development and revenue generation.
Nigeria Exceeds OPEC Oil Production Quota by 2% In September Nigeria produced 1.53 million barrels of crude oil per day in September 2026, exceeding its Organisation of Petroleum Exporting Countries (OPEC) quota of 1.5 million barrels per day by two per cent. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in a statement by its Head of Corporate Communications, Eniola Akinkuotu. According to the commission, Nigeria maintained its record of meeting or exceeding its OPEC crude oil production quota for five consecutive months, from May to September 2026. The country’s average daily production of crude oil and condensate rose by 2.34 per cent in September to 1,717,030 barrels, compared with the preceding month. The commission added that Nigeria’s single day production peaked at 1.84 million barrels during the month, while the lowest daily output stood at 1.68 million barrels. However, when condensate is excluded, the country’s average crude oil production was 1.53 million barrels per day, equivalent to 102 per cent of its OPEC quota. A breakdown of production figures showed that Nigeria pumped 1.53 million barrels per day in May, 1.55 million in June, 1.51 million in July, 1.5 million in August and 1.53 million in September. The NUPRC attributed the improved performance to stable operations across most producing assets and the absence of major pipeline outages during the period. It said the improved stability enhanced production uptime and the efficiency of crude oil evacuation. The commission added that the sustained increase reflected efforts by operators and industry stakeholders to improve operational efficiency, maintain asset integrity and strengthen production reliability across the upstream petroleum sector. A breakdown of average daily crude oil and condensate production by terminal showed that Forcados recorded the highest output at 320,320 barrels per day, followed by Bonny Terminal with 303,270 barrels per day.
Dangote Refinery Records $4.7bn Profit as Revenue Hits $22.5bn Dangote Petroleum Refinery and Petrochemicals has reported a net profit of $4.73bn on revenue of $22.5bn for the nine months ended September 30, 2026, marking a significant improvement from the loss recorded in the corresponding period of 2025. The refinery’s unaudited financial results, released in Lagos on Tuesday, showed that revenue rose by 144 per cent from $9.2bn in the corresponding period of 2025, while earnings before interest, taxes, depreciation and amortisation increased to $5.52bn from $627.6m. The company had recorded a net loss of $117.2m in the comparable period last year. The latest figures indicate improved refining performance, supported by increased throughput, greater operational reliability and stronger refining margins, as the 700,000-barrel-per-day facility consolidates its commercial operations. The refinery’s EBITDA margin also expanded to 24.56 per cent from 6.83 per cent, reflecting improved profitability across its operations. Operating cash flow increased more than tenfold to $3.68bn from $364.7m in the corresponding period of 2025, while cash balances rose to $6.69bn from $809.5m. The company also recorded a significant improvement in its financial position, moving from net debt of $1.73bn in September 2025 to a net cash position of $650.8m by September 2026. The development means the refinery’s cash holdings exceeded its debt obligations on a net basis, strengthening its financial position as it pursues further expansion. The results also highlighted stronger performance in the third quarter, with revenue increasing from $13.91bn at the end of June to $22.48bn at the end of September. This indicates that the company generated approximately $8.57bn in revenue during the third quarter alone. EBITDA rose from $2.60bn at the half year mark to $5.52bn by September, representing an estimated $2.92bn generated during the third quarter. Net profit similarly increased from $1.82bn at the end of June to $4.73bn in September, indicating earnings of approximately $2.90bn in the three months. Managing Director of Dangote Petroleum Refinery and Petrochemicals, David Bird, attributed the improved financial performance to higher throughput, more stable operations and better refining margins. He said the results demonstrated the refinery’s transition from commissioning and initial production activities to sustained commercial operations. Bird added that the performance had strengthened the company’s financial foundation as it advanced its initial public offering and pursued its Vision 2030 growth strategy. According to him, the company plans to increase refining capacity, expand its product portfolio and strengthen distribution networks across African markets to support the continent’s energy security. The financial results come as the refinery pursues an initial public offering aimed at expanding African participation in its ownership. The Securities and Exchange Commission recently approved an extension of the offer’s closing date from October 13 to October 27, 2026, to accommodate investor interest and encourage wider participation across African markets. The offer comprises 4.1 billion ordinary shares priced at N525 each, giving it a total value of approximately N2.15tn. President and Chief Executive of Dangote Industries Limited, Aliko Dangote, had disclosed that subscriptions had exceeded the company’s initial fundraising target. He said the offer was intended primarily to give more Africans an opportunity to own shares in the refinery, rather than simply raise additional capital. The latest financial results provide investors with an indication of the refinery’s earnings capacity, cash generation and balance sheet strength as the company seeks to broaden its shareholder base. Beyond the share offer, the performance is also expected to support the group’s Vision 2030 expansion plans, which include increasing refining capacity, growing petrochemical production and extending distribution networks across Africa. Located in the Lekki Free Zone in Lagos, Dangote Petroleum Refinery and Petrochemicals operates an integrated refining and petrochemical complex with a crude distillation capacity of 700,000 barrels per day….
Oando: Foreign Capital Exit Forces Nigeria to Build Own Energy Financing Ecosystem- Alero Balogun Nigeria must urgently deepen domestic financing and build indigenous capacity as international capital continues to retreat from African energy projects, the General Manager, Corporate Communications, Oando Plc, Mrs. Alero Balogun, has warned. Balogun made the call while speaking at the…
NAPE President, Ajayi calls for Intensified Exploration to Boost Nigeria’s Oil Reserves Nigeria must urgently ramp up exploration in frontier and mature basins to replace fast-depleting reserves and secure its production future, President of the Nigerian Association of Petroleum Explorationists [NAPE], Mrs. Cecilia Ajayi, has warned Ajayi raised the alarm while speaking at a…