During a state visit to Brasilía this week, Nigerian President Bola Tinubu focused on deepening economic cooperation and unlocking strategic partnerships, and welcomed Petrobras’s planned re-entry into the Nigerian market. The two countries signed five Memoranda of Understanding covering trade, energy, aviation, science and finance, signaling a shift from symbolic ties to practical, high-impact collaboration....
Author: Energy Crossroad (Energy Crossroad)
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Petrobras to re-enter Nigeria five years after halting JV operations
During a state visit to Brasilía this week, Nigerian President Bola Tinubu focused on deepening economic cooperation and unlocking strategic partnerships, and welcomed Petrobras’s planned re-entry into the Nigerian market. The two countries signed five Memoranda of Understanding covering trade, energy, aviation, science and finance, signaling a shift from symbolic ties to practical, high-impact collaboration....
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Cameroon Awards $312m Gas Power Plant Project to Sunon Asogli Power
Cameroon has awarded a $312 million contract to Sunon Asogli Power (Ghana) Ltd, in partnership with China Energy Engineering Corporation Ltd, for the construction of the Limbe Combined-Cycle Gas-Fired Power Plant in the country’s southwest region. The announcement, made on August 20, 2025, marks the end of more than a decade of negotiations after earlier...
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Turning Clean Energy Ideas Into Bankable Projects in Africa
At this year’s Future of Energy Conference (FEC 2025), Yaw Appiah Lartey, Head of Infrastructure & Capital Projects at Deloitte Africa, stressed that innovative clean energy ideas alone are not enough to drive Africa’s energy transition. He noted that even in the continent’s high-risk markets, projects can attract significant investment when they are well-structured, de-risked,...
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Saudi Arabia and India Top the List of Russia’s Fuel Oil Buyers
Russia’s fuel oil shipments went mostly to Saudi Arabia and India in July as Asia and the Middle East remain the key outlets for Moscow’s fuel oil and vacuum gasoil (VGO) amid import bans and embargoes in the West. Russia’s oil products have been banned in the EU and other Western countries since 2023, so...
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Dangote seals new deal with Japanese firm to expand into petrochemical sector
Africa’s richest man, Aliko Dangote, is extending his industrial footprint beyond oil refining into the global petrochemical sector through a new partnership with a leading Japanese firm.Aliko Dangote is expanding into the global petrochemical sector through a partnership with Mitsui Chemicals.The collaboration was announced during the Tokyo International Conference on African Development in Yokohama.Dangote aims...
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Egypt rises as Russia’s top African partner with nuclear power at the core
Russia has declared Egypt its largest African trade and economic partner, emphasizing a strengthening bilateral relationship.Trade between Russia and Egypt is projected to exceed $9 billion by 2024, commemorating 82 years of diplomatic ties.Collaborations across the energy, agriculture, and tourism sectors showcase Egypt as a strategic ally for Russia outside Europe and Asia.Russia is constructing...
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PHDC Deepens Talks with Al Jedad Holdings on Petroleum Hub Project
The Petroleum Hub Development Corporation (PHDC) has advanced its engagement with Qatari investment firm Al Jedad Holdings and its Ghanaian partner, Fortune Investment, in a bid to fast-track participation in the multibillion-dollar Petroleum Hub project. The meeting, chaired by PHDC Deputy CEO of Finance and Administration, Halimatu Sadia Abdulai Abu, focused on strengthening earlier discussions...
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Dr. Wisdom Enang warns that recent Global oil price decline could undermine Nigeria’s fiscal plans
SAMPSON ENYONGEKERE, UYO A shrewd and globally revered energy expert, Engr. (Dr.) Wisdom Patrick Enang has identified industrialization as the most viable path to unlocking Nigeria’s economic potential. Dr. Enang proffered the opinion on Friday, August 15, while speaking with newsmen in Uyo, the Akwa Ibom State capital. While presenting his opening address, the erudite...
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Brazil’s Petrobras can return to Nigeria quickly, Nigerian president says
ABUJA, Aug 26 (Reuters) – Brazil’s state-run oil company Petrobras, which left Nigeria five years ago, should be able to return quickly, Nigerian President Bola Tinubu told a news conference with his Brazilian counterpart as part of a two-day visit to deepen ties.Petrobras began operations in Nigeria in 1998 in the deep waters off the...