Nigerian National Petroleum Company Limited (NNPC Ltd.) has welcomed the Federal Government’s signing of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, describing it as a landmark reform that significantly enhances Nigeria’s competitiveness for deep offshore investment and strengthens the nation’s pathway towards achieving its...
oil and gas
President Bola Ahmed Tinubu, GCFR, has approved a landmark reform that replaces project-by-project negotiations with a transparent investment framework designed to unlock up to US$50 billion in deep offshore investment and restart Nigeria’s large, capital-intensive offshore developments that have remained stalled for decades. The Presidential spokesperosn, Bayo Onanuga, confirmed...
Pan Niger Delta Forum (PANDEF) has praised President Bola Ahmed Tinubu for approving a 15-year gas supply framework for UTM Offshore Limited, describing the decision as a major milestone that will accelerate industrial development in the Niger Delta and strengthen Nigeria’s gas economy. In a letter dated August 6,...
Nigerian National Petroleum Company (NNPC) Limited has defended the performance of its Group Chief Executive Officer, Bayo Ojulari, following criticism over the outcome of the recently concluded oil licensing round. In a statement issued on Saturday by the Chief Corporate Communications Officer, Andy Odeh, the national oil company said...
Shell has pledged to support Nigeria in its efforts to build a secure energy future through investments and efficient delivery of its businesses in Nigeria. General Manager, Development and Subsurface Shell Nigeria Deepwater, Kun Jiang, stated this on Monday while delivering the sponsor’s remarks at the 49th edition of the Nigeria Annual International Conference and Exhibition of the Society of Petroleum Engineers in Lagos. “We continue to invest in Nigeria’s future through our projects, our people, and our enduring confidence in the potential of this nation,” he said. Kun highlighted current investments in Bonga North, HI and the advancement of Bonga Southwest as testimonies of Shell’s confidence in Nigeria’s deepwater future. The confidence was further reiterated with the recent launch of a US$3 billion contract financing programme by Shell Nigeria Exploration and Production Company (SNEPCo), which will help Nigerian contractors build capability, create value, and accelerate project delivery. Shell is a major sponsor of the conference as part of a longstanding support for a professional body which has contributed to the development of the oil and gas industry. Discussing the theme of the conference; “Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience,” Kun said Nigeria had a lot of opportunities despite geopolitical tensions that threaten global supply chains and market volatility and shifting energy dynamics. “With a population exceeding 240 million people, abundant natural resources, world-class talent, and growing domestic energy needs, Nigeria has all the ingredients to become one of the world’s most attractive energy investment destination,” she pointed out. “But potential alone does not create prosperity. Potential must be converted into progress. Resources must be transformed into value. Opportunity must be matched by action.” Nigeria must continue to attract capital, strengthen the business environment, embrace technology to unlock potentials if it will thrive in the global evolving energy landscape. She added: “The future will belong to countries and industries that combine resilience with innovation, ambition with collaboration and investment with execution excellence. Nigeria has the resources. Nigeria has the talent. Nigeria has the opportunity. What is required now is the collective determination to seize it.” Shell is mounting an exhibition at the SPE conference with SNEPCo’s Senior Production Geologist Abidemi Belgore taking industry leaders and regulators round the stand. Key areas of interest include technological breakthroughs that have enhanced output at Bonga and facilitated the execution of the Bonga North project. Also highlighted on the stand is the full range of Shell businesses in Nigeria from deepwater oil production and integrated gas to renewables and power solutions as well as social investments across the country.
Nigeria National Petroleum Company (NNPC) Limited held the 2026 Energy Business Development Forum on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, where it unveiled business prospects and opportunities on the project, before investors and energy operators in Minna, Niger State, on Thursday. The event, held at the Government House, Minna, was...
Benue State has secured three oil and gas blocks in the 2025 Nigerian Upstream Licensing Round, opening a new chapter in the state’s long-standing quest to develop its hydrocarbon resources. The licensing round was conducted by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) under the administration of President Bola...
Efforts to revive the long-idle Ajaokuta Steel Company Limited have received a significant boost following the signing of a 20-year Gas Supply Agreement and a Memorandum of Understanding (MoU) with the Nigerian National Petroleum Company Limited (NNPC). The agreement, secured under the leadership of the Managing Director and Chief...
Federal Competition and Consumer Protection Commission (FCCPC) has expressed concern over findings from its ongoing surveillance of the downstream petroleum market, which suggest that consumers are being exploited despite the significant decline in global crude oil prices. In a statement issued on Sunday by the Director, Corporate Affairs, Ondaje...
Fresh efforts to revive the previously aborted sale of a 40 per cent stake in the Amukpe–Escravos Pipeline have reignited concerns over transparency and corporate governance in Nigeria’s oil and gas industry. A policy expert has warned that the manner in which the transaction is handled could have far-reaching...
Dangote Petroleum Refinery & Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day (bpd) in a performance test conducted by the Process Licensors, marking a significant milestone in the facility’s operational expansion and further cementing its position as World’s Largest Single Train Petroleum Refinery. The...
Last week, the Group Chief Executive Officer of Nigeria National Petroleum Company (NNPC) Ltd., Engr. Bashir Bayo Ojulari, received in audience the President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Dr. George Elombi, at the NNPC Towers, Abuja. NNPC Ltd. set out its...
At the ongoing Africa CEO Forum in Kigali themed “Scale or Fail: Why Africa Must Embrace Shared Ownership,” NNPC Ltd’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, yesterday joined global CEOs on the African Oil and Gas Coalition’s Strategic Roundtable to discuss the topic ‘Gas without...
President of the Dangote Group, Aliko Dangote, has disclosed that the company rejected attempts by the Nigerian National Petroleum Company Limited to acquire additional shares in the Dangote Petroleum Refinery, insisting that more Nigerians should have the opportunity to own part of the facility through a planned public listing....
A terminated sale of a 40 per cent stake in the Amukpe–Escravos Pipeline has drawn renewed attention to Nigeria’s asset disposal processes after fresh independent valuations showed a significant gap between earlier pricing and current estimates. Reports said that assessments conducted in 2025 placed the stake at between $544...
Nigerian National Petroleum Company (NNPC) Ltd has signed a Memorandum of Understanding (MoU) with two Chinese companies, Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd, for collaboration through a potential Technical Equity Partnership in support of the completion and operation of the Port...
NNPC Limited, through its Research, Technology and Innovation (RTI) Division, in collaboration with the Petroleum Technology Development Fund (PTDF), today signed a Memorandum of Understanding (MoU) with Sonatrach, the Algerian National Oil Company, for cooperation in research, development and innovation. This is contained in a statement issued on Wednesday...
[News Analysis] A September 2025 approval tied to a failed pipeline transaction has resurfaced, despite the deal being formally terminated four months earlier, according to sundry reports. The approval relates to a proposed sale of a 40 per cent stake in the Amukpe-Escravos Pipeline, a 160,000-barrel-per-day evacuation route that...
Group Chief Executive Officer of NNPC Limited, Engr. Bashir Bayo Ojulari, on Tuesday delivered a characteristically direct and pragmatic assessment of Nigeria and Africa’s energy future at CERAWeek 2026, declaring that the country’s fundamentals are strong, its value proposition clear, and its focus now squarely on execution. Speaking on...