Tag: Oil & Gas
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Tinubu Approves Write-Off of $1.42 Billion, ₦5.57 Trillion NNPC Debt
Overview: A Landmark Debt Forgiveness for NNPC In a move that could shift the trajectory of Nigeria’s public finances, President Bola Tinubu has approved the cancellation of substantial debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account. The write-off amounts to about $1.42 billion and ₦5.57 trillion, aimed at…
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West Africa’s Atlantic Margin: Renewed Exploration Drives a New Era
Overview: A renewed push along the Atlantic margin West Africa’s Atlantic margin is once again becoming a focal point for oil and gas exploration. After years of mixed activity, operators are revisiting the offshore basins that fringe countries from Mauritania and Senegal to Ghana, Nigeria, and Ivory Coast. The renewed interest is propelled by a…
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IPMAN Backs Dangote Refinery, Eyes Ownership: Nigeria’s Refining Landscape Shifts
IPMAN Signals Support for Dangote Refinery Amid Drive for Domestic Refining The Independent Petroleum Marketers Association of Nigeria (IPMAN) has disclosed plans to participate more directly in Nigeria’s refining sector by backing the Dangote Refinery project and pursuing potential refinery ownership, contingent on regulatory approval. This bold stance comes as the body seeks to deepen…
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Dangote Refinery Reconfirms N699 Petrol Price, Signals Steady Supply to Marketers
Dangote Refinery Reaffirms N699 Petrol Price Ahead of Market Reactions The Dangote Refinery has once again confirmed that its petrol gantry price stands at 699 naira per litre, signaling a stable pricing environment for marketers in Nigeria. In a public notice shared on its X account, the company reiterated that the petrol product remains available…
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Philodrill Targets New Palawan Oil Contract to Revive West Linapacan Field
Philodrill on the Hunt for a New Palawan Contract The Philodrill Corp., a Pasig-based oil explorer, is pursuing a fresh service contract with Philippine authorities to revive the idle West Linapacan oil field off Palawan. The move signals a broader strategy to expand its exploration footprint in the region and deploy modern extraction technologies that…
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Reps Launch Full-Scale Probe into Oil Firms Over Host Communities Fund Shortfall
Background: A Mandated 3% Contribution and the Trust Fund The Nigerian House of Representatives has ordered an expansive inquiry into the persistent failure of oil and gas companies to remit the mandatory three per cent of their annual operating expenditure to the Host Communities Development Trust Fund (HCDTF). This fund is designed to channel resources…
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Meren Energy Q3 2025 Results: Preview and Expectations
Overview: What to Expect from Meren Energy As Meren Energy prepares to announce its Q3 2025 financial results, investors are focused on whether the company can sustain its growth trajectory amid sector volatility. The energy sector has faced varied headwinds, including commodity price fluctuations, supply chain challenges, and capital expenditure decisions that can affect production…
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Economics vs. Environment: Can Woodside’s Browse Project Survive the Financial Hurdles?
Introduction: A costly venture with uncertain economics Woodside Petroleum’s ambitious Browse offshore gas project has long been framed in environmental terms. Critics point to its proximity to the Scott Reef and the potential for coral and marine-life disruption, as well as concerns about carbon emissions. Yet a growing chorus of analysts argues that the project’s…
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Economics, not just the environment, could derail Woodside’s Browse gas project
Overview: A project under financial pressure as much as environmental scrutiny Woodside Petroleum’s bid to develop the Browse offshore gas fields near Western Australia remains a high-stakes test of whether a megaproject can survive a crowded energy landscape. While opponents have framed the fight around coral reefs at Scott Reef and rising emissions, industry analysts…