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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….
The IPPG blueprint behind petroleum reforms, NNPC’s shift from JV positions
Seplat, Oando may welcome new partners Sopuruchi Onwuka The ongoing plans by the Nigeria’s national oil company, NNPC Limited, to divest significant equity in several oil blocks in early 2026 as part of an overall strategy proposition developed by leading…
Trump rders quarantine of Venezuelan oil
The White House has directed U.S. military forces to focus on interdicting Venezuelan oil shipments for at least the next two months, escalating economic pressure on President Nicolás Maduro’s government while stopping short of direct military confrontation. U.S. officials said…
Eyesan pledges transparency, efficiency at NUPRC
Sopuruchi Onwuka The new Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, has pledged to entrench digitization, transparency, and operational efficiency as the cornerstone of her leadership. Mrs. Eyesan who held her first town…
Another year closes with fuel price drop
* Dangote’s price cuts face implementation challenges Sopuruchi Onwuka The domestic fuel market is set to end 2026 with slight fall in the prices of transportation fuels, especially the premium motor spirit popularly called petrol which fires cars and light…
