The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday. confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945. This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza,...
Author: Energy Crossroad (Energy Crossroad)
Post
Post
bp-Eni venture seeks to fast-track output from Namibia discovery
(Bloomberg) – Azule Energy, a joint venture between bp and Eni, is fast-tracking its Namibia oil operations as it competes with companies including TotalEnergies SE to be among the first to produce crude in one of the world’s newest hotspots. Azule last year negotiated a stake in Namibia’s block 2914A from operator Rhino Resources, and...
Post
South African court reverses TotalEnergies’ approval for offshore block
(Bloomberg) — A South African court overturned a decision granting TotalEnergies SE environmental authorization for an oil exploration block offshore the country’s west coast.The Western Cape High Court ruled that the environmental impact assessment for Total’s Block 5/6/7 was “deeply flawed, failing to address key risks, legal requirements, and public participation,” Green Connection, one of...
Post
African Development Bank Commits $40 Million to Catalyze the Alliance for Green Infrastructure Project Development Fund Boosting Africa’s Energy Transition
The African Development Bank (AfDB) has taken a decisive step to accelerate the rollout of climate-aligned infrastructure in Africa by committing $40 million to the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD). This injection of capital is aimed at turning early-stage concepts into fully bankable green energy and climate-resilient projects across the...
Post
Russia’s Fuel Exports Plummeted in July
Russian seaborne fuel exports fell by 6.6% in July, primarily due to increased domestic demand and planned refinery maintenance. Recent Ukrainian drone strikes have damaged several Russian refineries, forcing them offline and potentially leading to a further decline in refined product shipments in August.The disruptions to refineries are expected to increase Russia’s crude oil exports...
Post
Global oil markets will face record surplus in 2026, says IEA
(Bloomberg) – Global oil markets are on track for a record surplus next year as demand growth slows and supplies swell, the International Energy Agency said. Oil inventories will accumulate at a rate of 2.96 million bpd, surpassing even the average buildup during the pandemic year of 2020, data from the IEA’s monthly report showed....
Post
Exxon signs deal to explore Trinidad deepwater blocks, could see $21.7B investment
Exxon Mobil said Tuesday it signed a deal to explore a vast deepwater area offshore Trinidad and Tobago for oil and gas, and the country’s energy minister said the company could spend as much as $21.7B if it finds sufficient reserves. The search will take place off Trinidad’s east coast in a region that spans...
Post
Nigeria generates N5.21tn from oil sales in H1
The Federal Government, through the Nigerian Upstream Petroleum Regulatory Commission, raked in N5.21tn from the sale of crude oil, gas and other economic activities in the first six months of 2025. It said the revenue inflow represents 42.7 per cent of the record N12.2tn it generated in the entire 2024 fiscal year. The figure, however,...
Post
Cooking gas prices hit Nigerians hard for fifth straight month
For the fifth month in a row, Nigerian households are feeling the heat, literally and financially, as cooking gas prices climb yet again, leaving many struggling to afford what has become a basic necessity in daily life. “I used to refill my 12.5kg cylinder for about N15,000 last year. Now, it’s over N21,000,” sighed 38-year-old...
Post
Five countries account for 71% of the world’s nuclear generation capacity
Five countries account for more than two-thirds of the world’s total nuclear electricity generation capacity. The United States has the most capacity, followed by France, China, Russia, and South Korea, based on International Atomic Energy Agency (IAEA) data as of June 2025. Globally, 416 nuclear power reactors are operating in 31 countries, with a total installed net generating...