Nigeria’s daily petrol consumption dipped to an average of 52.9 million litres per day in November 2025, reflecting a notable shift in national fuel demand patterns.This is according to the latest Fact Sheet released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).The November figure marks a decline from the 56.74 million litres per...
Category: News
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Crude Oil and Refined Products Market Review and Outlook -CBOD
Crude oil prices on the global market declined by approximately 2.40% during the 12th to 26th November pricing window. This drop occurred despite stronger demand in China and improved market sentiment following the U.S.–China tariff agreement, as concerns about oversupply from both OPEC and non-OPEC producers continued to weigh on the market. According to the...
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Government Finalises Draft Bill to Establish Nuclear Owner-Operator Company for Parliamentary Consideration
Ghana’s Ministry of Energy and Green Transition has completed a draft bill for onward submission to Parliament for consideration and passage into law, for the establishment an Owner-Operator Company to spearhead the country’s nuclear power programme, according to a parliamentary report adopted on Tuesday, December 9, 2025. The report of the Select Committee on Energy,...
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Senegal Approves Payment for African Energy Bank
The African Energy Bank has received a significant financial boost with Senegal approving its share of payment for the pan-African energy finance vehicle.Senegal approved its share of payment for the African Energy Bank (AEB), which is expected to be paid before the end of 2025. Announced by Dr. Omar Farouk Ibrahim, Secretary General for intergovernmental...
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Italy’s Eni discovers major gas reserves off Borneo in Indonesia
Italy’s Eni (ENI.MI), opens new tab said on Tuesday it had made a significant gas discovery in an exploration well around 50 kilometres (31 miles) off the eastern coast of Indonesia’s part of Borneo island. Preliminary estimates indicate gas volume of 600 billion cubic feet in the four reservoirs within the well trajectory, with a...
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Sino-Africa Green Finance Cooperation Can Redefine Africa’s Industrial Future, Says ACCPA’s Executive Director at Launch of Landmark SAGFA Reports
The Executive Director of the Africa-China Centre for Policy and Advisory (ACCPA), Paul Frimpong, has affirmed that strengthened green finance cooperation between China and Africa has the potential to “redefine the continent’s industrial future.” He delivered this message during his keynote remarks at the virtual launch of the Ghana and Ethiopia Sino-Africa Green Finance Alliance...
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New SAGFA Report Highlights Ethiopia’s Pathway to a Climate-Resilient Green Economy Through Stronger Green Finance Coordination
A newly released report by the Africa-China Centre for Policy and Advisory (ACCPA), supported by the African Climate Foundation (ACF), provides an in-depth analysis of Ethiopia’s evolving green finance landscape and outlines a pathway for realizing the country’s long-term vision of a Climate-Resilient Green Economy (CRGE). Published under the Sino-Africa Green Finance Alliance (SAGFA), the...
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FG reduces oil block entry costs to $3m
As the 2025 licensing round gets underway, the Federal Government has reduced the signature bonus from $10m to $3m and $7m. The Nigerian Upstream Petroleum Regulatory Commission disclosed this in an update on its website. According to the commission, this was part of the government’s efforts to reduce entry barriers. “Interested in one of the...
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Star Oil launches fuel now, pay later scheme using Ghanacard and credit scoring system
Star Oil has unveiled a new initiative that allows commercial drivers to buy fuel on credit using their Ghanacard and an individualised credit scoring system, offering much-needed financial relief to thousands of drivers across the country. The concept, dubbed Fuel Now, Pay Later, was announced in a Facebook post by Star Oil, following weeks of...
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ABAG Rejects New PURC Tariff Hikes, Calls for Immediate Reversal and Reforms at ECG, GWCL
The Food and Beverages Association of Ghana (FABAG) has issued a strong condemnation of the latest utility tariff adjustments announced by the Public Utilities Regulatory Commission (PURC), describing the increases as unjustified, insensitive and unacceptable. In a statement released on Sunday, December 7, the association rejected the 9.8% increase in electricity tariffs and 15.9% upward...