Refined oil accounted for more than two-thirds of the United Kingdom’s total goods exports to Nigeria in the four quarters ending June 2025, rising sharply to £1.5bn, The PUNCH reports. This is according to the latest UK–Nigeria Trade and Investment Factsheet released by the UK Department for Business and Trade. The report, based on data...
Category: News
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Nigeria’s earnings from crude fall 43% despite higher output
Nigeria’s gross profit from crude oil and gas sales fell by N824.66 billion in 2024 despite an increase in production, according to a new report from the Budget Office of the Federation.Figures in the fourth-quarter Budget Implementation Report show gross profit dropped to N1.08 trillion in 2024, down from N1.90 trillion the previous year —...
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Trump gives Hungary one-year exemption from Russian energy sanctions
Donald Trump has exempted Hungary from sanctions over its continued purchases of Russian oil and gas for one year, a White House official has confirmed to BBC News. Earlier, the US president said he would consider an opt-out for Hungarian Prime Minister Viktor Orban, a close Trump ally who has maintained good relations with Russia...
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The surprising countries pulling off stunningly fast clean energy transitions.
This year has seen waves of bad news for the global fight to halt catastrophic climate change. Fossil fuel production is still increasing, driving up planet-warming pollution; the United States is in climate denial mode; and turbulent geopolitics have pushed the climate crisis down the agenda and into the culture wars. But there’s another, more...
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Energy Consortium Secures $50 billion to Build Africa’s Second-Largest Refinery in Nigeria
Nigeria is set to consolidate its dominance in Africa’s oil refining landscape as an international energy consortium secured over $50 billion for the construction of a 500,000-barrel-per-day refinery and a 1,471-hectare free trade zone in Ondo state.Before this project, Algeria’s Skikda Refinery, with a capacity of about 356,500 barrels per day, held the title of...
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How Star Oil proved Ghana’s low-price fuel can be high-quality
Star Oil Ghana’s Chief Executive Officer, Philip Tieku, says the company’s steady rise to market leadership has exposed the long-held myth that low-priced fuel must mean poor quality. Speaking on JoyNews’ PM Express Business Edition with George Wiafe on Thursday, November 6, Mr Tieku said the results speak for themselves. “The jury is out there....
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IMF commends Energy Minister for remarkable progress in energy sector
The International Monetary Fund (IMF) has lauded Ghana’s Ministry of Energy for what it describes as remarkable progress in reforming and stabilising the country’s energy sector, under the stewardship of the Minister for Energy and Green Transition, Mr. John Abdulai Jinapor. In a statement issued in Accra, the IMF’s Resident Representative in Ghana, Dr. Adrian...
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GNPC Reaffirms Commitment to Local Content at APPO CECLA 2025 in Brazzaville
The Ghana National Petroleum Corporation (GNPC) has reiterated its commitment to advancing local content development and enhancing Africa’s competitiveness in the global energy space at the ongoing 4th APPO Conference and Exhibition on Local Content (CECLA 2025) in Brazzaville, Republic of Congo.Delivering a speech on behalf of GNPC’s Acting Chief Executive Officer and Chair of...
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GNPC’s Strategic Reframing: Local Content as the Nexus for Operatorship and National Competence
The Ghana National Petroleum Corporation (GNPC) is undertaking a significant strategic pivot, with Acting CEO Mr. Kwame Ntow Amoah formally redefining local content as the fundamental pillar for achieving national operatorship and ensuring long-term energy security. Speaking at the 2025 Local Content Conference & Exhibition (LCCE) in Takoradi, Mr. Amoah challenged industry stakeholders to shift...
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LCCE 2025: Dr Toni Aubynn Addresses Concerns Over Feedstock Availability for Petroleum Hub project
The Acting Chief Executive Officer of the Petroleum Hub Development Corporation (PHDC), Dr Toni Aubynn, has firmly dismissed concerns over feedstock availability as a barrier to the Petroleum Hub Project, assuring investors that the hub will have uninterrupted access to essential raw materials upon completion.The commissioning of Nigeria’s Dangote Refinery and the planned construction of...