TotalEnergies has invested £20 million to acquire a minority stake in Xlinks First Limited. Xlinks plans to develop a giant renewable project in Morocco (combining solar and wind) to supply green electricity to the United Kingdom through the installation of high-voltage direct current (HDVC) subsea cables, coupled with a large battery energy storage. Upon completion, […]

A new chapter in human capital development (HCD) for enhanced local content implementation in the hydrocarbons subsector began on Tuesday with the inauguration of an Oil and Gas Sector Skills Council and launch of National Occupational Standards (NOS) Project. Recommended by the Education and Training Sector Working Group of the Nigerian Content Consultative Forum (NCCF), […]

Nigeria has shown a committed interest in withdrawing civil claims totaling $1.1 billion against Italian energy group Eni as related to allegations of corruption in dealing with oil well licensing in the country, Bloomberg News reported recently. According to the report as obtained from our source, Nigeria justice ministry is expected to waive the claims before […]

Apex International Energy has reported robust update on its operations from the six concessions in the Western Desert oil producing region of Egypt acquired from IEOC Production B.V. (IEOC), a unit of Eni S.p.A., in the first half of 2023. As previously announced, Apex acquired all of IEOC’s interests in the Ras Qattara, West El […]

Africa Oil and Gas has stated in its recent Q3 2023 operations update  that the Nigeria OML 127 has been voluntarily converted to operate under the new Petroleum Industry Act from March 1, 2023, and is now subject to 30% Corporate Income Tax regime compared to the previous 50% Petroleum Profit Tax regime. Meanwhile OML […]

As Nigeria seek for sufficient crude oil production to salvage her domestic refineries consumption and industrial stakeholder calling for all encompassing efforts to forestall unforeseen shortage in supply, the recent OPEC release as placed Nigeria in a top spot of being the current crude oil producer in Africa ahead of its competitor Angola. According to […]

The Executive Secretary Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has warned that Nigeria might resort to importing crude oil for its upcoming and existing refineries if concerted efforts are not made to increase the current low production numbers. He gave the warning in his goodwill message at the 41st Annual […]

The Rural Electrification Agency (REA) the commissioning of Nigeria’s first Interconnected Hybrid Solar Mini-Grid in the Toto community of Nasarawa State, scheduled for tomorrow, November 9, 2023. This event marks a significant advancement in the nation’s pursuit of universal electricity access and sustainable energy solutions. In a robust collaboration with Powergen Nigeria Limited and Abuja […]

88 Energy the execution of a three stage farm-in agreement with a wholly-owned subsidiary of Monitor Exploration Limited (Monitor) to earn up to a 45% non-operated working interest in onshore Petroleum Exploration Licence 93 (PEL 93), located in the Owambo Basin, Republic of Namibia. Farm-In Agreement detail The Farm-In Agreement is between Eighty Eight Energy […]

The Nigerian National Petroleum Company Limited (NNPC Ltd.) will continue to collaborate with the Nigeria Extractive Industries Transparency Initiative (NEITI) and all relevant stakeholders in the Reconciliation Committee set up by President Bola Ahmed Tinubu to investigate, review and reconcile the financial records on alleged indebtedness to the Federation by both NNPC Ltd. and the […]