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Petrobras buys down Oranto’s stake in STP block, expands Africa footprint
Frank Okon Brazil’s state-controlled oil major Petrobras has agreed to acquire a 75% operating stake in offshore Block 3 in São Tomé and Príncipe from Nigerian independent Oranto Petroleum Limited, in a move that deepens its renewed push into African…
Iran slips 3 oil cargoes through Strait of Hormuz as tensions ease
Ziggy Ojiegbe Three Iranian oil tankers carrying roughly five million barrels of crude have successfully exited the Gulf, marking the first such movement since Washington imposed a blockade on Iran’s oil exports earlier this week. The development raises fresh questions…
BADEA, DBN strike €40m credit deal to expand SME financing in Nigeria
Sopuruchi Onwuka The Arab Bank for Economic Development in Africa has signed a €40 million line of credit agreement with the Development Bank of Nigeria to expand access to long-term financing for small businesses across Nigeria. The agreement was formalized…
Joe-Ezigbo unveils plan to expand Falcon’s role in Nigeria’s gas sector
Sopuruchi Onwuka New Chief Executive Officer of Falcon Corporation Limited, Mrs Audrey Joe-Ezigbo, has outlined a growth strategy aimed at expanding the company’s footprint in Nigeria’s gas market and positioning it for a larger role in Africa’s energy transition. Her…
NLNG awards ₦250m to 51 entrepreneurs at 2026 VIBES Pitch-a-Thon
Ziggy Ojiegbe Nigeria Liquefied Natural Gas Limited has awarded ₦250 million in grants to 51 entrepreneurs following the conclusion of its 2026 Vocational Innovation and Business Empowerment Scheme (VIBES). The beneficiaries emerged from a pool of 103 participants drawn from…
Africa caught in debt squeeze as global crises push borrowing costs to record heights
Frank Okon African nations are among the hardest hit by high borrowing costs imposed by a series of global crises, including widespread pandemics, armed conflicts, and economic shocks. The COVID-19 pandemic, the Russia–Ukraine war, and rising instability in the Middle…
Middle East war portends $58 bn repairs cost on energy sector – Rystad
Frank Okon The ongoing conflict involving Iran and regional tensions has pushed potential repair costs for damaged energy infrastructure to as much as $58 billion, according to new analysis by Rystad Energy. The estimate marks a sharp increase from an…
OPEC scores Nigeria’s March oil production below quota as NUPRC remains upbeat
Sopuruchi Onwuka Organization of the Petroleum Exporting Countries (OPEC) has declared that Nigeria produced 1.38 million barrels per day (mbd) of oil in March, below allocated production quota. However, the country’s upstream industry regulator, the Nigerian Upstream Petroleum Regulatory Commission…
AOW:Energy 2026: NCDMB partnership to boost African energy development
Sopuruchi Onwuka Participation of the Nigerian Content Development and Monitoring Board (NCDMB) in the upcoming AOW:Energy 2026 will advance key priorities shaping the continent’s energy future, the organizers have declared. According to a media available to Oracle Intelligence, the participation…
New medicine offers hope in fight against pancreatic cancer
Ziggy Ojiegbe Scientists in the United States have developed a promising new drug that could significantly improve survival rates for patients with pancreatic cancer, one of the deadliest forms of the disease. Researchers at Northwestern University tested the experimental drug,…
