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Tag: Oil and Gas

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, […]

FG threatens to revoke oil block licenses over inactivity
Oil and Gas

FG seeks foreign firms’ return to Nigeria’s oil sector

The Federal Government has called on major Engineering, Procurement and Construction firms to return to Nigeria’s oil and gas industry, insisting that the challenges that once forced them out have been dismantled through reforms and fresh incentives. The call was contained in a statement by Nneamaka Okafor, the Special Adviser on Media and Communication to […]

FG's 1,068 oil projects to generate $22.8bn investments
Oil and Gas

Oil & gas emerge best indexes on NGX – Report

In terms of year-to-date returns on the Nigerian Exchange Limited, the Growth Board and Oil & Gas were the top-performing indices as of Christmas. The PUNCH reported that other indices with outstanding returns include the banking index, NGX-AFR Bank Value Index (106.47%), the NGX AFR Div Yield Index (122.78%), and the NGX MERI Value Index […]

NEITI to release old data, says global body
Oil and Gas

Nigeria made $764bn from oil, gas sector 21 years – NEITI

Nigeria’s oil and gas industry brought in $764.52 billion from 1999 to 2021. This is according to the Nigerian Extractives Industries Transparency Initiative’s Executive Secretary, Dr. Ogbonnaya Orji. The Times reported that during his speech this week at the Nigeria Energy Forum, he provided the numbers. Important figures mentioned by Dr. Orji during his speech […]

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