Comprehensive reporting on federal energy policies, upstream investments, domestic refining milestones, and economic reforms shaping Nigeria's oil and gas sector.
Shell Agrees to Sell Nigerian Onshore Oil Business for Up to $2.4 Billion to Renaissance Consortium
In a historic shift for Nigeria's hydrocarbon landscape, Shell reached an agreement to sell its onshore subsidiary SPDC to Renaissance—a consortium of four indigenous operators (ND Western, Aradel Energy, First E&P, Waltersmith) and Petrolin—shifting legacy Niger Delta assets into Nigerian local custody under federal NUPRC regulatory review.
Shell Sells Nigerian Onshore Business for Up to $2.4B to Renaissance
A milestone transaction moving onshore operating stakes in the Niger Delta from international supermajors to indigenous consortium leadership under PIA guidelines.
Federal Government Commences Sale of Crude Oil in Naira to Domestic Refineries
President Tinubu's economic council instituted direct crude allocations priced in local Naira to supply Dangote and other domestic refiners, curbing US dollar outflow.
650,000 bpd Dangote Refinery Begins Petrol Production, Ending Import Reliance
The world's largest single-train refinery commenced commercial distribution of petrol (PMS), marking an unprecedented step toward national downstream self-sufficiency.
Nigeria's Crude & Condensate Output Rebounds to 1.8 Million bpd
Tightened pipeline surveillance on trunklines like the Trans-Niger Pipeline combined with NUPRC regulatory coordination pushed national oil production to a multi-year peak.
NUPRC Offers 12 Offshore Deepwater Oil Blocks in New Licensing Round
Regulatory chief Gbenga Komolafe unveiled the 2024/2025 licensing round offering deepwater blocks under transparent, competitive bidding terms mandated by the Petroleum Industry Act.
NNPC Ltd Declares Record Profit in Audited Results, Boosting Fiscal Remittances
Operating under its commercialized CAMA charter, national oil firm NNPC Ltd published audited performance demonstrating enhanced cost discipline, dividend yields, and increased statutory remittances.