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Nigeria demands credible bids in 2025 oil licensing round
Sopuruchi Onwuka The Ministry of Petroleum Resources has charged companies seeking to participate in Nigeria’s upcoming oil and gas licensing round to present credible proposals and clear evidence of technical and financial capacity as a condition for participation. Minister of…
EIA predicts lower oil prices as global inventory growth extends into 2026, 2027
Ziggy Ojiegbe Brent crude oil prices are expected to average $56 per barrel in 2026 and $54 per barrel in 2027, as rising global oil inventories continue to weigh on prices, according to the US Energy Information Administration (EIA). In…
Nigeria listed as US suspends immigrant visa processing for 75 countries
By Ziggy Ojiegbe Nigeria has been listed among 75 countries whose citizens will no longer have their immigrant visa applications processed by the United States, as Washington tightens immigration rules under President Donald Trump’s administration. The move marks a further…
37 mtpa new LNG capacity to come online in 2026
Global liquefaction additions reach 88 mtpa since 2025 Sopuruchi Onwuka, with agency reports About 37 million tons per annum (mtpa) of new LNG liquefaction capacity is expected to come online in 2026, adding to the 51 mtpa that entered service…
TotalEnergies finally signs off Renaissance JV interest to Vaaris
Displaces Chappal Energies, beats SAPETRO Sopuruchi Onwuka French multinational oil major with significant commercial interest in Nigeria, TotalEnergies, has reached a deal to sell its 10 percent non-operating stake in the Renaissance operated Joint Venture with the Nigerian National Petroleum…
EKEDC announces board transition, appoints Wola Joseph-Condotti as Interim CEO
Sopuruchi Onwuka Eko Electricity Distribution Company PLC (EKEDC) has announced a leadership transition following the takeover of its Board by Transgrid Enerco, the company’s spokesman declared on Wednesday. EKEDC, one of Nigeria’s leading electricity distribution companies, serves customers across Lagos…
Fuel import data mirrors domestic market turmoil
Local refiners yet deliver cost benefits to Nigerians Sopuruchi Onwuka The performance of the domestic fuel production industry dominated the latest report by the Central Bank of Nigeria (CBN) on the country’s trade performance in the past two years. Although…
UN says global economic growth indicates resilient but subdued
Further slowdown expected in 2026 Sopuruchi Onwuka Global economic growth has shown resilience over the past year despite trade tensions and geopolitical uncertainty, but remains subdued and well below pre-pandemic levels, according to a major United Nations report released on…
Group urges FG to shield poor, tax wealthy Nigerians under proposed reforms
Frank Okon A consumer advocacy group has called on the Federal Government to protect low-income Nigerians from the impact of proposed tax reforms by imposing heavier taxes on wealthy individuals and large corporations. The Coalition for Affordable and Regular Electricity…
Trump seizes control of Venezuela’s $2.8bn oil stockpile
By Ziggy Ojiegbe U.S. President Donald Trump said Venezuela would hand over between 30 million and 50 million barrels of oil to the United States, cargoes worth about $2.8 billion at current market prices. He said the oil would be…
