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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…
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…
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…
Eyesan engages operators on rapid output boost, pledges predictable regulation
By Sopuruchi Onwuka The new Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, has begun industry engagement with a call on operating companies to adopt efficient measures that will quickly boost oil production and government…
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 Energy Compacts commitments reach $1.6 trn, huge funding gap remains
Frank Okon Commitments made under the United Nations Energy Compacts have reached $1.6 trillion, with $284 billion already mobilized, as governments and the private sector step up efforts to expand renewable energy and improve access to electricity and clean cooking…
