The NNPC Limited, Sahara Group, Eroton E&P, and Bilton Energy Ltd have unveiled Nigeria’s first wholly owned 2.2-million-barrel capacity Floating Storage and Offloading vessel, designed to drive sustained oil and gas production. In a statement seen by BusinessDay, the firms said the vessel is Nigeria’s first crude oil terminal to be commissioned in 50 years....
Month: October 2025
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PHDC Nears Partnership Agreement with Egyptian Consortium for Petroleum Hub Project
The Petroleum Hub Development Corporation (PHDC) is on the verge of finalising a partnership agreement with a consortium of leading Egyptian firms Chemexa Petrochemical Trading and Kaolin alongside the African International Alliance for Business and Sustainable Development and Ghana’s Adfat Group of Companies as local partners. The development follows a productive meeting held on Monday,...
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Kuwait strikes major offshore gas discovery in Persian Gulf
State-owned Kuwait Oil Co. made a “major” discovery in the Jazah natural gas field in the OPEC member’s offshore region. The initial exploration well recorded the highest production rate from a vertical well in the Minagish formation in Kuwait’s history,” KOC said in a statement on Oct. 13. The company has made similar announcements for...
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Guyana hits record three-quarter million barrels of oil per day
Total offshore production from Guyana’s Stabroek Block has hit over 700,000 barrels of oil per day, President of ExxonMobil Guyana Limited Alistair Routledge confirmed at a press briefing this morning. The start-up of the Yellowtail development is behind the spike. The project struck first oil on August 8. According to Routledge, Yellowtail production was “around...
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Guyana oil fund gets another US$133 million from oil sales in September
Guyana oil fund gets another US$133 million from oil sales in SeptemberGuyana received payments for two cargoes of crude oil in September 2025, totaling US$133 million (approximately GY$28 billion). The shipments, lifted from the Payara and Liza 1 projects, reflect the continued strength of the country’s oil production profile and the steady flow of revenue...
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Energy Minister Engages Power Sector Stakeholders on Long-Term Strategies to Ensure Stable Power Supply
The Minister for Energy and Green Transition, Hon. John Jinapor, has held a strategic engagement with key stakeholders in the power sector aimed at sustaining and ensuring consistent electricity supply across the country. The meeting focused on developing comprehensive strategies and actionable plans to guide the sector from now through to 2030, with emphasis on...
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BOST Energies Leadership Pays Courtesy Call on Ga Mantse to Strengthen Collaboration
The leadership of BOST Energies has paid a courtesy visit to His Royal Majesty King Tackie Teiko Tsuru II, the Ga Mantse and President of the Ga Traditional Council, as part of efforts to deepen relations between the company and the Ga State.The delegation, led by Managing Director Afetsi Awoonor and Deputy Managing Director Adjoa...
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GRA Foils Attempted Diesel Diversion, Saves State GH¢2.3 Million in Revenue
The Ghana Revenue Authority (GRA), working in collaboration with the National Security Authority, has uncovered and intercepted a fuel diversion syndicate attempting to illegally reroute diesel meant for export. According to the GRA, the operation which thwarted what could have been a GH¢2.3 million tax loss involved 10 trucks loaded with approximately 540,000 litres of...
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PIAC criticises $100m cap on Stabilisation Fund, calls for compliance
The Public Interest and Accountability Committee (PIAC) has expressed concern over the government’s continued breach of the legal capping formula for the Ghana Stabilisation Fund (GSF), warning that the move undermines Ghana’s ability to withstand future fiscal shocks. According to PIAC’s 2025 Half year report, the government maintained a US$100 million cap on the Fund...
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Ukraine and Russia’s intensifying energy war brings gas shortages and economic pain
Almost 900 miles from Ukraine’s borders, a fire erupted at a Russian oil refinery on Saturday. The blaze – a result of a strike by Ukrainian long-range drones, according to sources in the country’s security services – was the third at the facility in the last month alone. It was just the latest episode in...