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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…
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…
