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Oil & Gas - Page 61

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

The United States has seized a sanctioned Venezuelan oil tanker off the country’s coast, President Trump announced Wednesday, escalating tensions with Caracas and sending oil prices higher. “We’ve just seized a tanker on the coast of Venezuela, very large, largest one ever,”

December 11, 2025

Business·News·Oil & Gas

2024 Budget: Nigerian Govt Pledges N4.45bn Allocation To Ajaokuta Steel, Seeks N35 Billion Financing For Revival

In a determined move to resuscitate the long-dormant Ajaokuta Steel Company, the Federal Government has earmarked N4.45 billion in the 2024 budget, demonstrating a noticeable increase from the previous year’s allocation of N3.71 billion. This renewed allocation aims to address personnel costs,

December 6, 2023

Business·Oil & Gas

NCDMB Boss Charges Oil And Gas Stakeholders To Double Efforts As Nigerian Content Level Remains At 54% In 2023

Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote, has called on stakeholders in the oil and gas industry to step up efforts in increasing Nigerian content level.

December 6, 2023

Business·Oil & Gas

Old Port Harcourt Refinery Reconstruction Not Good Decision – Ex-MD

Former Managing Director, Kaduna and Port Harcourt Refineries, Alex Ogedengbe, has expressed reservations about the Nigerian government’s decision to rehabilitate the old Port Harcourt refinery in Rivers State, saying there won’t be any appreciable output from the plant.

December 5, 2023

Business·News·Oil & Gas

COP28: How Nigeria Utilises Gas To Drive Energy Transition – NNPCL Boss

The Group Chief Executive Officer (GCEO), Nigeria National Petroleum Company Limited (NNPC), Mr. Mele Kyari has highlighted Nigeria's efforts in utilising its abundant natural gas resources to drive energy transition.

December 5, 2023

Africa·Business·News·Oil & Gas

Nigeria, Ghana, Others Lead Consortium To Deploy 5 GW Battery Energy Storage Systems

Ten countries, including Egypt, Ghana, India, Kenya, Malawi, Mauritania, Mozambique, Nigeria, and Togo, joined the Battery Energy Storage Systems (BESS) Consortium. Spearheaded by the Global Energy Alliance for People and Planet’s Global Leadership Council (GLC) At the 2023 United Nations Climate Change

December 3, 2023

Business·News·Oil & Gas

Port Harcourt Refinery Is Over 75% Completed, Says Managing Director

Amidst the flurry of refurbishment activities at the Port Harcourt refinery, Ibrahim Onoja, the Managing Director, disclosed that significant strides have been made, with over 75% of the project already completed. Onoja’s revelation, based on a report compiled by the Nigerian National

December 2, 2023

Nigeria’s Oil Production Declines By 33,000 Barrels As OPEC Reports Setback In September

Business·News·Oil & Gas·World News

OPEC Announces 1 Million Bpd Cut In Monthly Oil Output For 2024 To Bolster Market Stability

In a move aimed at fortifying oil market equilibrium, the Organisation of Petroleum Exporting Countries (OPEC) and its allies announced on Thursday an additional reduction of 1 million barrels per day in monthly oil output, set to commence in 2024. Revealed during

December 1, 2023

Senate Speedily Passes N2.176trn Supplementary Budget, Cites Dry Season As Reason

Business·News·Oil & Gas

Nigerian Senate To Enlist EFCC Against 15 Oil Firms Over N135 Billion CBN Loan

In a heated session, the Nigerian Senate Committee on Gas Resources wielded the sword of the Economic and Financial Crimes Commission (EFCC) against 15 oil and gas companies alleged to have misappropriated a sum of N135 billion in Central Bank of Nigeria

December 1, 2023

Brent Crude Surges To $83 As African Producers Face Quota Tensions

Africa·Business·News·Oil & Gas·World News

Brent Crude Oil Surges To $83 As African Producers Face Quota Tensions

Amidst escalating tensions within the Organization of Petroleum Exporting Countries (OPEC), Brent crude surged to $83.60 per barrel, setting the stage for OPEC’s meeting today. The meeting, which was delayed due to discord among oil-producing nations in Africa demanding higher production baselines, remains

November 30, 2023

Dangote, Others Summoned As Nigeria's Natural Gas Production Drops Despite N250bn Fund

Business·News·Oil & Gas

Dangote, Others Summoned As Gas Production Drops Despite N250bn Fund

The Nigerian Senate has summoned Dangote Refinery and several other prominent entities for an urgent inquiry into the decline in Nigeria’s natural gas production despite the injection of N250bn intervention fund. “The decline occurred despite the infusion of N130bn into 15 companies

November 30, 2023

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Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

UK Targets Sugary Milk Drinks as Government Tightens Health Levy

The UK Labour government has expanded its existing sugar tax

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 26th November 2025

What is the dollar-to-naira exchange rate on the black market,

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Oil & Gas - Page 61

U.S. Seizes Sanctioned Venezuelan Oil Tanker, Escalating Tensions

2024 Budget: Nigerian Govt Pledges N4.45bn Allocation To Ajaokuta Steel, Seeks N35 Billion Financing For Revival

NCDMB Boss Charges Oil And Gas Stakeholders To Double Efforts As Nigerian Content Level Remains At 54% In 2023

Old Port Harcourt Refinery Reconstruction Not Good Decision – Ex-MD

COP28: How Nigeria Utilises Gas To Drive Energy Transition – NNPCL Boss

Nigeria, Ghana, Others Lead Consortium To Deploy 5 GW Battery Energy Storage Systems

Port Harcourt Refinery Is Over 75% Completed, Says Managing Director

OPEC Announces 1 Million Bpd Cut In Monthly Oil Output For 2024 To Bolster Market Stability

Nigerian Senate To Enlist EFCC Against 15 Oil Firms Over N135 Billion CBN Loan

Brent Crude Oil Surges To $83 As African Producers Face Quota Tensions

Dangote, Others Summoned As Gas Production Drops Despite N250bn Fund

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