NEITI, Stakeholders hail Appointment of Maria Van Der Hoeven as New EITI Board Chair The Nigeria Extractive Industries Transparency Initiative (NEITI) has welcomed with excitement the nomination of Ms Maria van der Hoeven as the incoming Chair of the Extractive Industries Transparency Initiative (EITI) for the 2026-2029 tenure. In a statement issued in Abuja this…
FG Approves Commencement of ₦185bn Gas Legacy Debt Payment Nigeria’s energy sector achieved a significant milestone as President Bola Ahmed Tinubu made strategic moves to promote upstream gas development and enhance gas-to-power generation. This initiative was reinforced by the National Economic Council (NEC), which approved the payment of legacy debts amounting to 185 billion naira…
Seplat Energy Earns Market Excellence, Education Intervention, Upstream Deal Awards in Lagos and London Seplat Energy Plc, foremost Nigerian independent energy company, has received three (3) awards for market excellence (2025 Highest Net Asset Ratio) at the PEARL Awards 30th Anniversary and Awards Nite in Lagos; Upstream Deal of the Year at the World Energy…
Cost of Services in Nigeria’s Oil and Gas Industry is Cheapest in Africa – PETAN President The President, Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya on Wednesday declared that the cost of providing services in Nigeria’s oil and gas industry is relatively the cheapest on the African continent. He spoke at a Townhall…
NCDMB Unveils $100m Equity Investment Scheme as Nigerian Content Hits 61% in 2025 The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled a $100 million Equity Investment Scheme among a raft of fresh initiatives to bolster indigenous capacity and participation in the oil and gas industry. The Executive Secretary of the NCDMB, Engr. Felix…
FG Pledges Stronger Gas Sector Growth Through Investment, Local Content Expansion Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has reiterated the Federal Government’s commitment to strengthening Nigeria’s gas sector through strategic investments, expanded local content, and increased energy production. Speaking in Yenagoa, Bayelsa State, at the Nigerian Content Development and Monitoring…
Nigeria Leads Africa in Upstream Investment, Secures Three of Four Major FIDs in 2024 Nigeria emerged as a leading destination for upstream investment in Africa, securing three out of four major Final Investment Decisions (FIDs) on the continent in 2024, Olu Arowolo Verheijen, Special Adviser to the President on Energy, has revealed. Speaking at the…
Nigeria Content Hits 61% as NCDMB Unveils $100m Equity Fund The Nigerian Content Development and Monitoring Board has announced that Nigerian Content levels in the petroleum industry have risen to 61 per cent, marking a significant step towards the national target of 70 per cent by 2027. The Executive Secretary of the Board, Engr. Felix…
Nigeria’s Renewables and Energy Transition Soars …Nigeria’s Energy Transition Plan aims for net-zero emissions by 2060, with major renewable investments, job creation targets, and gas positioned as a transition fuel. For decades, Nigeria’s oil industry has faced a multitude of challenges. Despite having vast quantities of crude, the mismanagement of revenue, weak agreements with international…
Ukraine’s Oil Strikes are Hurting Russia’s War Economy …Ukraine’s deep-strike drones have hit half of Russia’s major oil and gas facilities, reducing refining capacity and fueling domestic fuel shortages. Ukraine’s deep-strike drone campaign targeting Russia’s oil and gas production facilities has already cost its enemy 10 percent of its refining capacity, according to industry experts…