Oil & Gas

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

A.A. Rano, Aiteo, Menj, Pinnacle, NIPCO make list of top 10 Oil Companies with Highest Depot Petrol Prices   By Eyo Nsima Oil marketing companies with the highest depot prices for Premium Motor Spirit (PMS), commonly known as petrol, continue to influence supply costs across Nigeria’s downstream petroleum market, with depot rates remaining above the

Nigeria’s Condensate Production Strengthens Oil Output, Hits 170,446 bpd in May By Eyo Nsima Nigeria’s condensate production continued to play a strategic role in supporting the nation’s hydrocarbon output in 2026, with production rising to 170,446 barrels per day (bpd) in May, helping the country exceed its crude oil production quota allocated by the Organisation

Top 10 Depots with the Highest Petrol Prices Signal Wide Market Disparities By Eyo Nsima Nigeria’s deregulated downstream petroleum market continues to exhibit significant pricing differences, with some depot operators selling Premium Motor Spirit (PMS), popularly known as petrol, at prices more than ₦150 per litre above those charged by many competitors. Current depot pricing