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Tag: Oil and Gas

Oil and Gas

Global EITI team arrives to assess Nigeria’s oil, gas reforms

The Global Extractive Industries Transparency Initiative validation team has arrived in Nigeria to assess the country’s progress in improving transparency and accountability in the oil, gas and mining sectors. The validation mission, which begins on Monday (tomorrow), is part of the 2026 Extractive Industries Transparency Initiative Validation Exercise that commenced on July 1. The exercise […]

featured Oil and Gas

Oil, gas, banking stocks drag market into bearish mode

The Nigerian equities market relapsed into a bearish mode on Monday, June 15, 2026, as investors resumed profit-taking in oil and gas and banking heavyweights, erasing approximately N945 billion from investors’ wealth. The NGX All-Share Index declined by 0.60 per cent to close at 243,271.57 points, while market capitalisation shed an equivalent percentage to settle […]

Oil and Gas

Nigeria misses oil tax revenue target by ₦17.4tn

Nigeria’s petroleum profit and gas tax revenue recorded a shortfall of N17.4 trillion against its target for the first three quarters, underscoring the growing impact of lower crude oil production and declining international oil prices on government earnings. The figures are contained in data released by the Budget Office of the Federation. According to the […]

Oil and Gas

Nigeria’s oil, gas investment tripled in Nigeria 2025 — NBS

Nigeria’s oil and gas sector recorded a significant boost in investor interest last year as capital inflows jumped sharply. According to the latest capital importation report released by the National Bureau of Statistics, Nigeria’s oil and gas industry attracted $17.98 million in capital inflows in 2025, a sharp increase from the $5.12 million recorded in […]

Oil and Gas

Trump waives oil sanctions to slash global prices amid Iran war

United States President Donald Trump announced on Monday that his administration would temporarily waive certain oil-related sanctions to boost global oil supply and bring down prices amid disruptions from the ongoing Middle East conflict. The United States and Israel have conducted strikes on Iran, while Tehran has launched retaliatory attacks across the Gulf region. These […]

Opinion

OPL 245 dispute resolution will reposition economy – AGF Fagbemi

The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, has stated that resolving the longstanding dispute over Oil Prospecting Licence 245 will reposition Nigeria’s economy and strengthen the country’s fiscal muscle. Fagbemi also praised President Bola Tinubu’s visionary leadership, which enabled the breakthrough. “This development will pave the way for large-scale investments, […]

Oil losses continue as Brent oil sells at $78 per barrel
featured Oil and Gas

Brent oil hits $87 amid US-Israel-Iran war

Crude oil prices have surged dramatically toward their largest weekly gain in nearly six years, driven by the escalating military conflict involving the United States, Israel, and Iran. Brent futures reached $87 a barrel on Friday as the conflict severely disrupted shipping through the Strait of Hormuz. This critical waterway handles roughly a fifth of […]

TotalEnergies to invest $6bn in Nigeria's Deepwater
Oil and Gas

TotalEnergies credits PIA for boosting investment in Nigerian oil industry

The Petroleum Industry Act has been described as the enabler for the transparency and foreign direct investment currently being experienced in Nigeria’s oil industry. The Managing Director/Chief Executive of TotalEnergies EP Nigeria Limited, Matthieu Bouyer, stated this at a panel session held at the Sub-Saharan Africa International Petroleum Exhibition and Conference in Lagos. He was […]

Meristem projects oil, banking sector gains amid rising crude prices
Oil and Gas

FG launches $100m equity fund for oil and gas firms

The Federal Government has launched a $100 million equity investment scheme aimed at boosting the capacity of Nigerian companies operating in the oil and gas sector. The initiative was unveiled on Tuesday at the 2025 Practical Nigerian Content Forum in Yenagoa, Bayelsa State, by the Executive Secretary of the Nigerian Content Development and Monitoring Board, […]

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