Oil & Gas

Editorial: Rising oil prices expose Africa’s unfinished refining agenda   The latest surge in global crude oil prices should serve as another wake-up call for African governments. With Brent crude climbing to nearly $96 per barrel, West Texas Intermediate (WTI) reaching $88.05 per barrel, and gasoline futures also moving higher, the continent is once again […]

Rising fuel prices in Nigeria signal fresh energy cost pressures across Africa By Eyo Nsima The latest increase in petroleum depot prices in Nigeria, Africa’s largest oil producer and biggest fuel market, is expected to reverberate across the continent, with analysts warning that higher crude oil prices and rising refining costs could trigger fresh increases

Global Floating LNG boom brightens prospects for Nigeria’s multi-billion-dollar UTM Offshore project Nigeria’s planned multibillion dollar UTM Floating Liquefied Natural Gas (FLNG) project is poised to benefit from the rapid expansion of global floating LNG infrastructure as countries increasingly adopt offshore solutions to accelerate gas development and strengthen energy security. The 2026 World LNG Report,

Nigeria, Mozambique, Senegal Drive Africa’s LNG Growth in Historic Global Supply Wave   Africa is set to strengthen its position in the global liquefied natural gas (LNG) market over the next five years, with Nigeria, Mozambique, Senegal, the Republic of the Congo and Gabon among countries expected to drive the largest wave of LNG export

Esso Exploration and Production Nigeria (Offshore East) Limited starts Usan Infill Project   Esso Exploration and Production Nigeria (Offshore East) Limited (EEPN(OE)L), an affiliate of ExxonMobil, has commenced on-block activities for the Usan Infill Project in Oil Mining Lease (OML) 138, marking continued progress in developing Nigeria’s deepwater resources. The Usan Infill Project is part

Africa’s Oil Exploration Slows as Active Rig Count Drops 15% in Two Years By Godwin Paul Oil exploration activity across Africa continued to weaken in 2025 as the continent’s active drilling rig count fell to its lowest level in recent years, highlighting persistent challenges in attracting upstream investments despite stronger crude oil prices. Latest global

Africa’s LNG exports rise to 39.8 million tonnes as Nigeria, Angola drive growth   By Eyo Nsima Africa strengthened its position in the global liquefied natural gas (LNG) market in 2025, with exports rising by 1.8 million metric tonnes (Mt) to 39.77 Mt, driven by higher shipments from Nigeria, Angola, Mozambique and the commencement of

Matric, A.Y.M Shafa, Sigmund among top 10 Oil Companies with Nigeria’s Highest Depot Fuel Prices By Eyo Nsima Nigeria’s depot fuel market recorded another day of price variations on Friday, July 3, 2026, with several oil marketing companies maintaining significantly higher ex-depot prices for Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas