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REA, Lotus Bank to launch dedicated renewable energy financing facility
Sopuruchi Onwuka The Rural Electrification Agency (REA) and Lotus Bank have agreed to deepen their collaboration on renewable energy financing in Nigeria, marking a shift from project-based support to a structured, large-scale funding framework. The decision followed a high-level meeting…
Oil market outlook: supply surplus keeps prices in check despite geopolitical risks
Ziggy Ojiegbe Global oil markets are entering 2026 with a sizeable supply overhang that continues to weigh on prices, even as geopolitical tensions periodically jolt sentiment. According to the latest report by the International Energy Agency (IEA), robust supply growth…
Chevron declares double discovery with Awodi-07 well
Sopuruchi Onwuka Chevron Nigeria Limited has declared that its Awodi well busted two separate lodes offshore Western Niger Delta, discovering new hydrocarbon reservoir and extending existing one. A press statement made available to Oracle Intelligence did not specify the oil…
Performance drives gender diversity in African business leadership, report finds
Sopuruchi Onwuka Gender diversity in African business leadership is increasingly being shaped by performance rather than advocacy alone, according to new research on the continent’s private capital industry. The report, released by the African Private Capital Association (AVCA), shows that…
After buying out M&P, Tony Elumelu takes seat in Seplat Energy’s board
Sopuruchi Onwuka Following the completion of a deal to acquire the entire 20.07 percent equity stake held by Etablissements Maurel et Prom (M&P) SA, Nigerian billionaire investor Tony Elumelu has joined the board of Seplat Energy Plc as a Non-Executive…
Seplat’s 300MMscfd ANOH Gas Project delivers first commercial gas
Sopuruchi Onwuka Seplat Energy Plc has announced the commencement of commercial operations at its long-awaited Asa North and Ohaji (ANOH) Gas Processing Plant, marking a major milestone for Nigeria’s domestic gas sector. The indigenous energy company, listed on the Nigerian…
Trump’s Greenland tariff threat deepens rift between Europe and the United States
Ziggy ojiegbe Donald Trump’s threat to impose new tariffs on European allies over their opposition to his proposed takeover of Greenland has sharply worsened relations between the United States and Europe, exposing growing mistrust within the transatlantic alliance. The US…
Supply outlook seen keeping oil prices subdued in 2026
Ziggy Ojiegbe Oil prices are expected to remain under pressure in 2026 as forecasts point to global supply continuing to outpace demand, reinforcing expectations of a prolonged period of low prices despite recurring geopolitical risks. Major forecasters including the U.S….
Seplat Energy reaffirms commitment to ESG-aligned operations
Sopuruchi Onwuka Integrated energy company Seplat Energy Plc has reaffirmed its commitment to conducting its operations in line with global environmental, social, and governance (ESG) standards, stressing the need for responsible and sustainable practices within Nigeria’s petroleum industry. The company,…
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…
