Category: Oil and Gas

– Shell Cost-Cutting Strategy 2025 – Shell Carbon Emissions Plans – Oil Industry Spending Trends Shell has announced plans to cut costs and reduce spending, signaling a shift in its energy transition strategy. The company aims to streamline operations while scaling back some of its carbon reduction commitments. This decision follows weaker financial performance and…

– Dangote Refinery Stops Naira Transactions – Petroleum Products Now Sold in Foreign Currency – Dangote Alters Fuel Sales Strategy Dangote Refinery has suspended the sale of petroleum products in naira, shifting exclusively to transactions in foreign currencies. The refinery announced this decision amid concerns about exchange rate volatility and the need to stabilize its…

– PENGASSAN Criticizes Sterling Oil’s Expatriate Policy – Local Content Compliance in Nigeria’s Oil Sector – Union Demands Fair Employment Practices The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has accused Sterling Oil Exploration and Energy Production Company Limited of breaching Nigeria’s local content laws. The union claims the company is engaging…

The Nigeria Extractive Industries Transparency Initiative (NEITI) has praised Spaces for Change (S4C) for its advocacy efforts in oil and gas host communities. NEITI acknowledged S4C’s role in promoting transparency, accountability, and community participation in the management of natural resource revenues. S4C has been actively engaging stakeholders to ensure that host communities benefit from extractive…

The Nigerian Content Development and Monitoring Board (NCDMB) has partnered with the NNPC and oil producers to boost in-country manufacturing of line pipes. A workshop held at the Nigerian Content Tower in Yenagoa brought together key industry players, including the Oil Producers Trade Section (OPTS), Independent Petroleum Producers Group (IPPG), and local pipe manufacturers. NCDMB…

– Nigeria’s Crude Oil Production Surge – President Tinubu’s Energy Sector Reforms – Increased Rig Count in Nigerian Oil Industry Several stakeholders have lauded President Bola Tinubu’s administration for significant improvements in Nigeria’s crude oil production. The Tinubu Stakeholders Forum (TSF) highlighted the increase in rig count from 19 to 40, with projections to reach…

Shell Nigeria Energy Summit NIES 2025 Highlights Shell’s Health-in-Motion Initiative At the 8th Nigeria International Energy Summit (NIES), held from February 24 to 27, 2025, in Abuja, Shell companies in Nigeria made a significant impact with their high-profile exhibition. The event attracted dignitaries, including the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri,…

South Africa Offshore Drilling Opposition Environmental Concerns in Oil Exploration TotalEnergies West Coast Drilling Controversy Environmental organizations in South Africa have raised objections to TotalEnergies’ draft scoping report for proposed offshore drilling activities along the country’s west coast. The groups express concerns over potential environmental impacts, including threats to marine biodiversity and the livelihoods of…

Shell has expressed confidence in the future of Nigeria’s deepwater oil production, citing ongoing investments and technological advancements in offshore exploration. The energy giant believes deepwater operations will continue to play a crucial role in the country’s oil sector growth and economic stability. Meanwhile, Dangote Refinery has announced a reduction in diesel prices, a move…

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the government’s decision to ban the exportation of crude oil allocated to local refineries. The move is aimed at ensuring a steady supply of raw materials to enhance domestic refining capacity. According to PETROAN, this policy will reduce Nigeria’s dependence on imported petroleum…