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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…
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…
Tinubu nominates 21 board members for NMDPRA, NUPRC
Sopuruchi Onwuka President Bola Tinubu has written to the Senate, seeking confirmation of 21 nominees for the boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The nominations were disclosed…
BlueCore buys out Helios, Sojitz Corporation to own Axxela
Sopuruchi Onwuka Helios Investment Partners has completed the sale of its 75% stake in Axxela, the Nigerian natural gas distribution infrastructure company, to BlueCore, marking a full exit by its existing shareholders. As part of the transaction, Sojitz Corporation, the…
Iranian uprising adds to building pressure on oil prices
Rising tensions across several key oil-producing countries risk overturning the market’s current complacency and triggering a sharp rebound in oil prices, particularly as sanctions continue to constrain Russian exports. Crude prices fell sharply in 2025 as oversupply fears dominated sentiment,…
Nigeria Leads Sub-Saharan Africa’s LNG Boom
Sopuruchi Onwuka Sub-Saharan Africa’s liquefied natural gas (LNG) supply is set for rapid expansion over the next decade, with total output forecast to rise by 172% from 35.7 billion cubic metres (bcm) in 2024 to about 98 bcm by 2034,…
Trump demands oil firms to invest more to recover Venezuelan assets
Ziggy Ojiegbe U.S. oil companies that lost assets to Venezuela’s nationalizations decades ago may get help recovering them — but only if they agree to reinvest heavily in the country’s battered oil industry. Officials in the Trump administration have told…
Prices enters 2026 bearish despite U.S. siege on Venezuela’s shadow oil fleet
Sopuruchi Onwuka U.S. authorities are intensifying enforcement against Venezuela’s oil exports as global crude prices post their steepest annual decline since the pandemic era. Oil prices fell sharply in 2025, with ICE Brent crude ending the year at $60.85 a…
Heirs Energies stakes $500m on 20.07% Seplat equity
Buys Out Maurel & Prom Sopuruchi Onwuka Heirs Energies has declared that it has acquired a 20.07 percent equity stake in Seplat Energy Plc, strengthening indigenous ownership in Nigeria’s largest independent energy company. The indigenous integrated energy firm announced on…
NCDMB flaunts funding, mentorship in 2025/2026 innovation challenge
Sopuruchi Onwuka The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its commitment to supporting innovation in the oil and gas sector through funding, mentorship, and business development opportunities for participants in its 2025/2026 Research, Innovation and Technology Challenge….
