OPEC+ Signals Faster Oil Output Increases Amid Mounting Compliance Issues The global oil landscape may soon shift again, as OPEC and its allies—collectively known as OPEC+—consider accelerating oil production increases over the coming months. This move comes amid growing frustration with member nations that are failing to meet their agreed production quotas. According to a…
Tinubu Set To Intervene as N4tn Power Sector Debt Threatens National Grid Stability President Bola Tinubu is preparing to hold a critical meeting with executives of Nigeria’s power generation companies (Gencos) in a bid to tackle the growing N4 trillion debt crisis threatening the country’s electricity supply chain. This intervention follows a high-level engagement on…
NUPRC Calls for Fair Crude Pricing to Support Nigeria’s Domestic Energy Needs The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on oil producers to adopt fair pricing mechanisms to help meet Nigeria’s domestic crude oil supply obligations. The appeal was made by Engr. Gbenga Komolafe, the Commission Chief Executive, during a recent meeting with…
Nigeria Set to Host Africa Energy Bank as Minister Lokpobiri Inspects Headquarters in Abuja In a major milestone for Africa’s energy sector, Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has reaffirmed the country’s readiness to host the Africa Energy Bank (AEB). This comes after an official inspection of the bank’s new…
Afreximbank Launches $3 Billion Programme to Boost Intra-African Oil Trade and Cut Fuel Import Costs In a major move to reshape Africa’s energy landscape, the African Export-Import Bank (Afreximbank) has launched a $3 billion Revolving Intra-African Oil Import Financing Programme. The new initiative is set to transform the way African and Caribbean nations source refined…
Oil Prices Edge Higher but Set for Weekly Loss Amid OPEC+ Supply Concerns and Trade Uncertainty Oil prices posted modest gains on Friday but remained on track for a weekly decline, as expectations of increased supply from OPEC+ producers and ongoing uncertainty over US-China trade relations weighed heavily on market sentiment. Brent crude futures rose…
World Bank Backs Energy Expansion Plans, Including Possible Nuclear Financing The World Bank’s steering committee has endorsed plans to explore new options for expanding global energy access — including potential financing for nuclear power — marking a significant shift aligned with U.S. President Donald Trump’s push for increased energy investment. The endorsement comes just days…
Angola Conducts Stress Tests Amid Oil Price Volatility, Considers IMF Loan Angola is conducting stress tests to assess the potential impact of falling oil prices on its public finances, Finance Minister Vera Daves de Sousa announced on Friday. She noted that the situation increases the likelihood of Angola seeking financial assistance from the International Monetary…
Aliko Dangote Appointed to World Bank’s Private Sector Investment Lab The President and Chief Executive of Dangote Group, Aliko Dangote, has expressed his gratitude following his appointment to the World Bank’s Private Sector Investment Lab—an initiative aimed at boosting investment and creating jobs in emerging economies. In a statement confirming his acceptance, Dangote reaffirmed his…
Seplat Energy JV Flags Off 2025 ‘Eye Can See’ Programme in Imo State… Over 22,000 Nigerians Have Benefited Since Inception Seplat Energy, in partnership with the Nigerian National Petroleum Company Limited (NNPCL), has officially launched the 2025 edition of its flagship healthcare initiative, the ‘Eye Can See’ programme, in Owerri, the capital city of Imo…