It was a moment heavy with grief and gratitude as the Petroleum Hub Development Corporation (PHDC) gathered at the Jubilee House’s Ceremonial Garden on Wednesday, August 13, 2025, to remember eight public servants who perished in the recent helicopter crash. Acting CEO Dr. Toni Aubynn, alongside Deputy CEO of Finance and Administration Halimatu Sadia Abdulai...
Category: News
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Jomoro chiefs praise gov’t for commitment to Petroleum Hub project, but seek clarity from Mahama on land size
The Western Nzema Traditional Council (WNTC) has expressed great appreciation and excitement to President Mahama for his call to “expedite” action on the development of the petroleum and petrochemical industry at Jomoro.They are, however, ambivalent about the government’s plan to redesign the 20,000-acre land allocated for the Hub. According to the council, the government’s proposal,...
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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...
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Venture Global wins LNG arbitration dispute against Shell(Bloomberg) –
Venture Global Inc., one of the largest U.S. exporters of liquefied natural gas, has prevailed over oil giant Shell Plc in an arbitration case over the sale of cargoes from its first export plant, capping a two-year fight.The Virginia-based company welcomed the favorable tribunal ruling in a statement Tuesday and said the decision reaffirmed the...
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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....
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NPA Cracks Down on Unlicensed Fuel Stations, Warns of Immediate Closure
The National Petroleum Authority (NPA) has issued a stern warning to fuel stations operating without the necessary licenses, cautioning that such outlets face immediate closure and possible decommissioning. In a statement, the regulator reaffirmed its mandate under the National Petroleum Authority Act, 2005 (Act 691), as amended, to oversee all commercial activities related to the...
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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...
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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,...
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Marketers engage Dangote Refinery ahead August 15 direct supply rollout
Marketers across Nigeria are intensifying engagement efforts with the refinery’s management to secure reliable and cost-effective fuel supplies as Dangote Petroleum Refinery prepares to commence the direct distribution of petrol to the domestic market on August 15. The engagement, according to industry sources, is aimed at securing direct access to refined petrol at stable and...
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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...