Renaissance completes takeover of Shell’s onshore assets
Renaissance Africa Energy Holdings has finalized its acquisition of Shell Petroleum Development Company of Nigeria, marking a significant shift in Nigeria’s oil…
Oil and Gas
Leading source of the latest news and insights for the oil & gas industry; upstream and downstream sector
Dangote Refinery loses N32.5bn after petrol price cut
The Dangote Petroleum Refinery will incur an estimated N32.5 billion loss following a recent reduction in the ex-depot price of Premium Motor…
Global oil prices rise 2% on tighter US supplies
Global oil prices rose 2 per cent on Wednesday as U.S. government data revealed tighter-than-expected oil and fuel inventories. However, concerns over…
Unstable petrol prices endangering businesses, oil marketers warn
Oil marketers under the aegis of the Petroleum Products Retail Outlets Association of Nigeria has raised concerns over the impact of unstable…
Marketers project N800/litre pump price as imported petrol costs fall
The competition in Nigeria’s downstream oil sector has intensified as major marketers lower their prices below the N825 per litre gantry loading…
Nigeria’s crude oil output drops to 1.47m barrels per day
Nigeria’s crude oil production has once again fallen below its OPEC quota. According to the Nigerian Upstream Petroleum Regulatory Commission, output dropped…
Russia’s oil output drops further below OPEC+ quota in January
Russia’s oil production in January reportedly fell further below its OPEC+ quota, indicating continued challenges in maintaining output levels. Sources, speaking anonymously…
Tougher US sanctions’ll limits Russian oil supply to China, India
Chinese and Indian refiners are set to source more oil from the Middle East, Africa, and the Americas, which is expected to…
Global oil prices slip to $76.23 after reaching October highs
Oil prices fell slightly on Monday due to a stronger U.S. dollar and anticipation of key economic data, including U.S. Federal Reserve…
Dangote, P’Harcourt refineries, others to consume 123m barrels H1 – Report
The Dangote refinery, along with the revamped Port Harcourt and Warri refineries, and six other refining facilities across Nigeria, are expected to…
Oil prices rise slightly amid optimism from China
Oil prices saw modest gains in light holiday trading on Thursday, supported by optimism about potential fiscal stimulus in China and expectations…
FG approves Shell’s $2.4bn onshore assets sale
Renaissance Africa Energy Company Limited has announced that it has received ministerial consent to acquire Shell Petroleum Development Company. This marks a…