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President Bola Tinubu has urged Nigeria LNG Limited to ensure the country’s gas resources deliver greater benefits to Ni...
27/08/2026

President Bola Tinubu has urged Nigeria LNG Limited to ensure the country’s gas resources deliver greater benefits to Nigerians by reducing gas flaring, increasing domestic gas utilisation and adopting pricing mechanisms that make energy more affordable.

Speaking at the State House in Abuja, Tinubu praised NLNG’s performance and assured the company of government support and incentives for further expansion, provided increased growth translates into greater benefits for the domestic economy.

NLNG Managing Director and CEO, Adeleye Falade, disclosed that the company has generated over $150 billion since inception, with shareholders receiving about $47 billion in dividends, including the Nigerian government’s 49 percent share.

He said improved oil production has allowed NLNG to increase operations from four to five production trains, while Train Seven is expected to raise capacity by 35 percent.

The company also supplies all its LPG to the domestic market and has completed the NLNG-funded Bonny-Bodo Road and Br

Nigeria’s Petroleum and Natural Gas Senior Staff Association, PENGASSAN, has pledged to collaborate with the Nigerian Up...
27/08/2026

Nigeria’s Petroleum and Natural Gas Senior Staff Association, PENGASSAN, has pledged to collaborate with the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, to help the country achieve its target of producing 3 million barrels of crude oil per day by 2030. The commitment was made by PENGASSAN President, Bosun Olabiyi-Agoro, during a visit to the NUPRC headquarters.

NUPRC Chief Executive, Oritsemeyiwa Eyesan, said Nigeria’s oil production has increased from about 1.1 million barrels per day a few years ago to an estimated 1.755 million barrels per day in 2026. She called for stronger cooperation with PENGASSAN to achieve the 3 million barrels per day target and increase gas production from below 8 billion cubic feet per day to 12 billion cubic feet by 2030.

Nigeria’s foreign exchange reserves have risen to $53.1 billion, their highest level in nearly 18 years, exceeding the C...
27/08/2026

Nigeria’s foreign exchange reserves have risen to $53.1 billion, their highest level in nearly 18 years, exceeding the Central Bank of Nigeria’s 2026 year-end target of $51.04 billion.

The increase has been driven by stronger crude oil earnings, improved foreign exchange inflows and increased capital inflows, with the liquid portion of reserves standing at $52.5 billion.

The stronger reserves provide Nigeria with over 12 months of import cover and could further support exchange-rate stability, investor confidence and the country’s ability to meet external obligations.

With Brent crude trading around $87 per barrel, above the 2026 budget benchmark of $64.85, analysts say the positive trend could continue as ongoing foreign exchange and fiscal reforms strengthen Nigeria’s external position.

: Dangote Refinery Gears Up for Historic IPO Amid Scrutiny Over Oil Supply SpendingAs Nigeria’s Dangote Refinery nears ...
26/08/2026

: Dangote Refinery Gears Up for Historic IPO Amid Scrutiny Over Oil Supply Spending

As Nigeria’s Dangote Refinery nears what could be one of Africa’s largest IPOs, investor attention is turning to the cost of crude oil supply for the 650,000 bpd plant.

Analysts say feedstock expenses will be critical to margins and profitability once the refinery lists. While the facility was designed to run mostly on Nigerian crude, securing consistent, competitively-priced supply remains a challenge amid NNPC offtake agreements, FX pressures, and global oil price volatility.

Market watchers expect the IPO prospectus to detail supply contracts, pricing formulas, and import plans, as these factors will determine investor confidence in long-term cash flow. A successful listing is projected to raise billions and mark a major milestone for Nigeria’s downstream sector.

Saudi Aramco has signed agreements and Memorandums of Understanding worth over $3.7 billion with French companies, deepe...
26/08/2026

Saudi Aramco has signed agreements and Memorandums of Understanding worth over $3.7 billion with French companies, deepening energy and industrial cooperation between the Kingdom and France.

The deals span energy, technology, engineering, and sustainability projects, including upstream services, petrochemicals, carbon capture, and digital solutions. Several of the MoUs are expected to advance into full contracts subject to feasibility studies and regulatory approvals.

Aramco said the agreements support its strategy to expand global partnerships and localize advanced technologies, while French firms gain access to Aramco’s project pipeline in Saudi Arabia and abroad. The signings were part of a wider push to strengthen bilateral trade and investment ties.

Dangote Refinery’s supply of Premium Motor Spirit, PMS, dropped by 21% in July, according to latest industry data.The de...
26/08/2026

Dangote Refinery’s supply of Premium Motor Spirit, PMS, dropped by 21% in July, according to latest industry data.

The decline is attributed to planned maintenance, crude supply constraints, and refinery optimization adjustments during the month.

The 650,000 bpd facility had ramped up output earlier in the year but saw volumes fall as it balanced domestic supply commitments with export plans.

The 21% drop could tighten fuel availability in the domestic market and put pressure on importers to bridge the gap. Marketers say they are monitoring August loadings to see if supply rebounds to June levels.

No fewer than 19 oil licences in Nigeria’s upstream sector have stated expiry dates falling within 2026, according to th...
26/08/2026

No fewer than 19 oil licences in Nigeria’s upstream sector have stated expiry dates falling within 2026, according to the Nigerian Upstream Concession Situation Report released by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC.

The report highlights that these licences will require renewal, relinquishment, or re-awarding depending on compliance, work programme delivery, and government policy. The expiries cut across Oil Mining Leases, OMLs, and Oil Prospecting Licences, OPLs.

Industry stakeholders say the 2026 deadline could trigger fresh licensing rounds and investment decisions as operators assess asset viability. NUPRC is expected to provide guidance on renewal terms and bid processes in the coming months.

Venezuela’s effort to revive oil production is progressing more slowly than the U.S. had hoped, limiting the impact on g...
25/08/2026

Venezuela’s effort to revive oil production is progressing more slowly than the U.S. had hoped, limiting the impact on global supply and prices.

Despite eased sanctions aimed at boosting crude exports, the country continues to face challenges including aging infrastructure, underinvestment, lack of drilling equipment, and difficulties accessing capital and partners. Output has risen modestly but remains far below pre-crisis levels of over 3 million barrels per day.

For Washington, a faster rebound was expected to help offset supply gaps and ease pressure on fuel prices.

Analysts say without major investment and technical support, Venezuela’s revival will stay gradual, keeping global markets tight.

Happy Eid El Maulud 🌙May this season bring light to your heart, growth to your journey, and endless wins to your life. F...
25/08/2026

Happy Eid El Maulud 🌙
May this season bring light to your heart, growth to your journey, and endless wins to your life.
From all of us at EntekHub, we celebrate with you.

Welding professionals under the Nigerian Institute of Welding have urged the Federal Government and project operators to...
24/08/2026

Welding professionals under the Nigerian Institute of Welding have urged the Federal Government and project operators to prioritise qualified Nigerian welders in the Ajaokuta-Kaduna-Kano (AKK) gas pipeline and other NNPC projects.

Speaking at the institute’s 2026 Annual General Meeting in Lagos, they said Nigeria has a pool of internationally certified welders capable of handling complex oil and gas projects but are still being sidelined.

The AGM Chairman, Prof. Abdullahi Maa’ji, alleged that foreign welders on the AKK project earn as much as ₦3 million, while Nigerian welders receive between ₦200,000 and ₦300,000 for similar work.

He called on the government and project operators to fully enforce the Nigerian Oil and Gas Industry Content Development Act and ensure greater participation of indigenous professionals in major oil and gas projects.

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