FG launches crude trading platform to boost local refining, position Africa for energy supply shift — As refineries cut import dependence By Eyo Nsima The Federal Government has introduced an automated crude oil trading platform designed to connect regulators, crude oil producers, refineries and oil marketers, in a move aimed at improving crude oil […]
Shell setback: South Africa risks energy insecurity as court ruling threatens offshore investment — Ayuk The recent South African court ruling against Shell has raised fresh concerns over the country’s energy security, investment prospects and ability to unlock its offshore oil and gas resources, according to the Executive Chairman of the African Energy Chamber
Top 10 cheapest petrol depots as competition intensifies across Nigeria By Eyo Nsima Competition among petroleum marketers intensified on Friday as several depots reduced the prices of Premium Motor Spirit (PMS), commonly known as petrol, with the cheapest products selling at about ₦1,166 per litre in Lagos. The mid-day price report for August 14, 2026,
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159 Days Since USA War: Africa Caught Between Higher Oil Revenues and Rising Energy Costs By Eyo Nsima The prolonged US-Iran war and disruption of oil shipments through the Strait of Hormuz continue to reshape the global oil market, creating both opportunities and risks for African economies. Brent crude stood at $87.83 per barrel, up
Editorial: From Crude Importer to Africa’s Refining Hub — Nigeria’s New Oil Trading Test Nigeria’s introduction of an automated crude oil trading platform could help resolve one of the biggest contradictions in its petroleum industry: being a major crude producer while struggling to supply its own refineries. The platform brings together crude producers, regulators,
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Global oil drilling rebounds as rig count rises to 1,950 Global oil and gas drilling activity rebounded in July 2026, with the number of active rigs worldwide rising to 1,950, up 57 rigs from 1,893 in June, according to the latest global rig count data. The increase, equivalent to about 3.0 per cent month-on-month,
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LNG supply surge to reshape global gas trade, intensify competition among exporters By Eyo Nsima A major wave of new liquefied natural gas, LNG, production capacity expected between 2025 and 2030 could fundamentally reshape global gas trade, intensify competition among exporters and give importing countries greater leverage in securing supplies. The expansion is being
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US, Qatar lead global LNG capacity expansion, Nigeria ranks 7th The United States and Qatar are set to dominate the next wave of global liquefied natural gas, LNG, capacity expansion, with the two countries accounting for the bulk of new liquefaction capacity scheduled to come on stream between 2025 and 2030. Based on the
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Nigeria Meets OPEC Quota for Third Consecutive Month as Production Hits 1.67mbpd in July 2026 Nigeria has for the third consecutive month met and exceeded its OPEC quota of 1.5mbpd, latest statistics from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have revealed. In the month of July 2026, Nigeria produced 1.505mbpd of crude oil
Top 10 OPEC oil producers in July as output rises to 20.91m bpd By Eyo Nsima The 10 leading crude oil producers among members of the Organisation of Petroleum Exporting Countries (OPEC) accounted for about 20.91 million barrels per day (bpd) in July 2026, as production increased amid disruptions to global oil supplies. Data contained
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