Defining the African Energy Narrative.
Shell and Chevron have signed a preliminary agreement to acquire exploration and production rights over Ghana’s South Deepwater Tano Cape Three Points oil and gas block, giving Accra an early test of whether its push to revive upstream investment can help reverse a sustained decline in crude output. The non-binding memorandum of understanding involves Shell […]
The Nigerian National Petroleum Company Limited (NNPC Ltd) and partners in Oil Mining Lease (OML) 118 have signed agreements to advance the Bonga South West/Aparo (BSWAp) deepwater project towards Final Investment Decision (FID). The agreements were signed on Monday by NNPC and the OML 118 contractor parties, comprising Shell Nigeria Exploration and Production Company Limited […]
Nigeria’s seaborne petroleum product exports have increased seven-fold since 2023, driven largely by rising output from the Dangote Petroleum Refinery, the US Energy Information Administration (EIA) has said. According to the EIA, Nigeria’s seaborne petroleum product shipments averaged 561,000 barrels per day (b/d) in the second quarter of 2026, compared with an annual average of […]
As Nigeria’s domestic refining capacity expands, reliance on imported petrol is rising again. According to fresh data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), average daily domestic petrol supply fell sharply to 25.8 million litres in July 2026, down from 32.5 million litres in June, a decline of about 21 percent. At […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is considering a crude oil swap arrangement to address the logistical and commercial barriers limiting domestic refineries’ access to locally produced crude oil. Oritsemeyiwa Eyesan, Chief Executive Officer of the commission, said the proposed arrangement would allow oil producers with domestic crude supply obligations to exchange delivery locations, […]
Aradel Holdings Plc is targeting 2027 for the commencement of Premium Motor Spirit (PMS) production at its 11,000 barrels-per-day modular refinery in Ogbele, Rivers State, as deregulation of Nigeria’s downstream petroleum market opens new opportunities for private refiners. Temitayo Ogunbanjo, General Manager, Refinery, Aradel Holdings, disclosed this in an interview with Bloomberg on the sidelines […]
The Nigerian National Petroleum Company (NNPC) Limited has reported a 15.8% increase in profit after tax (PAT) to ₦535 billion in June 2026, up from ₦462 billion recorded in May. The performance, disclosed in the company’s latest monthly financial and operational report, reflects improved earnings despite a slight decline in crude oil production. The figures […]
Nigeria has approved a major tax incentive package for Shell Plc’s long-delayed Bonga Southwest Aparo (BSWA) deepwater oil project, marking one of the government’s most significant efforts to revive investment in the country’s upstream petroleum sector. The incentive, linked to production volumes, is expected to accelerate the project’s long-awaited Final Investment Decision (FID) and could […]
Nigeria’s downstream petroleum market has entered another period of price volatility following the decision by Dangote Petroleum Refinery to discontinue naira-denominated sales of refined petroleum products in favour of US dollar pricing. The policy shift has triggered an immediate increase in depot prices, with petrol rising by as much as ₦113 per litre, signalling the […]
The renewed military confrontation between the United States and Iran has once again placed the Strait of Hormuz at the centre of global energy security concerns. Following a fresh wave of retaliatory strikes by Iran against US military assets and commercial shipping, Washington has reinstated its naval blockade targeting Iranian ports, marking a significant escalation […]
