Category: Newsroom

South Africa’s National Energy Regulator (NERSA) has approved a 6% reduction in the maximum price of gas supplied by Sasol Gas, the Sasol subsidiary responsible for transporting, marketing, and distributing natural gas. The revised tariff, effective for the third quarter of the 2025–2026 fiscal year—from January to March 2026—lowers the gas price cap from 90.57 […]

Dangote Refinery has clarified that the recent decline in petrol pump prices was solely a result of its decision to reduce ex-depot prices on November 6, rather than the temporary suspension of the 15 per cent import tariff. In a statement released on Monday, the company explained, “Dangote Petroleum Refinery clarifies that the recent reduction […]

Nigeria’s leading oil and gas companies ended the first nine months of 2025 with a combined cash and bank balance of N1.48 trillion, marking a 0.76% increase from the N1.46 trillion recorded during the same period in 2023. Cash and bank balances, which include funds readily available in bank accounts or short-term deposits, are a […]

Famfa Oil Limited has officially handed over the Modupe and Folorunso Alakija Medical Multispecialty Healthcare Facility to Osun State University (UNIOSUN), marking a significant milestone in the company’s commitment to advancing healthcare and education in Nigeria. The state-of-the-art medical facility represents Famfa Oil’s dedication to driving sustainable social impact through investment in robust institutions that […]

Aliko Dangote, Chairman of Dangote Industries Limited, has officially signed a landmark investment agreement worth $1 billion with the Government of Zimbabwe. The strategic partnership covers the establishment of a fully integrated cement manufacturing plant, a coal mining operation, and a power generation facility, marking a major milestone in Zimbabwe’s industrial and energy development drive. […]

Nigeria’s upstream sector is set for a fresh investment chapter as the NUPRC declared that the 2025 oil licensing round will officially commence on December 1, 2025. The announcement was made at the Project 1MMBOPD Additional Production Investment Forum in London by NUPRC Chief Executive Gbenga Komolafe, who said the move aligns with the Petroleum […]

Founder of Tavet Motion EV and Nord Automobiles Limited, Oluwatobi Ajayi, has raised serious concerns about what he described as institutional bias and economic sabotage against Nigerian vehicle manufacturers, following a commercial bank’s refusal to finance locally made cars. In a statement shared on X (formerly Twitter), Ajayi narrated how a client in the oil […]

Seplat Energy has achieved the prestigious ISO 45001:2018 certification, presented by Bureau Veritas, marking another milestone in the company’s journey toward operational excellence and sustainability. The globally recognized certification highlights Seplat Energy’s leadership and unwavering dedication to protecting its workforce, contractors, and host communities. It reflects the company’s proactive approach to risk management, emphasizing that […]

Global financial flows to developing nations, including Nigeria, for clean energy projects have surged to $21.57 billion, up from $12.14 billion in 2015, according to the UNFCCC Yearbook of Global Climate Action 2025. The report, titled “Marrakech Partnership for Global Climate Action,” highlights growing investor confidence in renewable energy and sustainable infrastructure across the Global […]

The federal government’s revenue from oil and gas royalties skyrocketed by 179.74 percent in the 2024 fiscal year, rising from N2.49 trillion in 2023 to N6.99 trillion, according to the Budget Implementation Report for Q4 2024 released by the Budget Office of the Federation. The royalties now account for 46 percent of Nigeria’s total oil […]