Industry

• Stakeholders push for even impact Over $150 million has been disbursed to Host Community Development Trusts (HCDTs) across Nigeria since the enactment of the Petroleum Industry Act (PIA). But stakeholders said the intended…
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The Nigerian National Petroleum Company Limited (NNPC) has announced a profit of N4.571tr in June. The company in its June report said it made N905bn profit after tax and paid N6.961tr as statutory payments from January 2025 to May. …
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By William Emmanuel Ukpoju Angola has announced a significant breakthrough in its energy sector with the discovery of over one trillion cubic feet (tcf) of natural gas in the Lower Congo Basin, marking the country’s first major gas…
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The Chief Executive Officer of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe Nigeria’s oil and gas sector has recorded its lowest crude oil losses in 16 years, following sweeping reforms implemented by the…
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The Central Bank of Nigeria (CBN) is preparing to auction ₦290 billion in Nigerian Treasury Bills (NTBs) this Wednesday, opening the window for investors to participate through the primary market auction (PMA). This issuance comes…
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The Akwa Ibom State Government has dismissed the renewed controversies surrounding its ownership of 76 offshore oil wells, maintaining that the Supreme Court decision on the issue is final. The Apex Court in July 2012 had placed a…
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A World Bank report has identified Nigeria as one of the top global nations in gas flare.According to the World Bank’s annual Global Gas Flaring Tracker, Nigeria, Russia, Iran, Iraq, the USA, Venezuela, Algeria, Libya, and Mexico…
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Revenue from crude oil taxes and mineral-related earnings accounted for about 66 per cent of the N1.818 trillion disbursed by the Federation Account Allocation Committee (FAAC) for June 2025.  In a statement at the weekend, the…
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Stakeholders in the energy sector have called for the development of energy transition to position the country for opportunities in renewables before the stock of crude oil dries up. The experts who spoke at the third edition of the…
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Backbone Infrastructure Nigeria Limited (BINL) has announced plans to construct a $15 billion refinery and establish a free trade zone in Ondo State, Nigeria. The project is a joint venture with the Ondo State Government,…
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