Al Jazeera Report The United States and Iran have failed to reach an agreement to end their war permanently despite lengthy talks that concluded on Sunday in the Pakistani capital, Islamabad, jeopardising a fragile ceasefire. On Sunday, each side blamed the other for the failure of the 21-hour-long negotiations to end fighting that has killed thousands, most of them in Iran, and sent global oil and gas prices soaring since it began over six weeks ago. “The bad news is that we have not reached an agreement, and I think that’s bad news for Iran much more than it’s…
Author: Orientalnews Staff
Agency Report Nigeria’s power sector has undergone a quiet but meaningful shift in recent years, driven largely by the wider adoption of prepaid meters and the introduction of the band-based tariff system. For decades, electricity consumers endured estimated billing, arbitrary disconnections, and the all-too-familiar sight of distribution company officials moving from street to street with ladders, cutting off supply to homes and businesses. Today, that reality is gradually fading as reforms begin to reshape accountability and service delivery. The rollout of prepaid meters has been central to this transformation, it was first introduced into Nigeria’s electricity sector in the…
Yemisi Izuora The World Bank has advised Nigeria to restore competition in the domestic petrol market by reinstating import licences for Premium Motor Spirit (PMS), warning that the current supply structure risks creating a monopoly and pushing local fuel prices above global benchmarks. In its latest assessment of Nigeria’s economy, the World Bank noted that restrictions on petrol importation have significantly reduced competition in the downstream sector, leaving the market largely dependent on supply from the Dangote Petroleum Refinery. According to the global financial institution, the limited number of suppliers in the petrol market has created pricing distortions, with…
Yemisi Izuora The Centre for the Promotion of Private Enterprise (CPPE), has advised that Government should strengthen its fiscal reforms and boldly encourage local production to sustain economic growth and development. The Center argued that no economy will thrive on import without building local industries. Muda Yusuf, the Chief Executive Officer (CEO) of the CPPE, while responding to the recent World Bank comment, warned that import-driven solutions risk exposing the economy to external shocks, especially amid ongoing global geopolitical tensions and volatility in energy markets. “The emphasis should be on expanding and stabilising domestic production capacity, ensuring reliable crude…
Uche Cecil Izuora Minister of Power, Adebayo Adelabu, Chief Executive Officer of the Association of Power Generating Companies (APGC), Dr. Joy Ogaji, Gombe State Governor, Mohammed Inuwa Yahaya, are among dignitaries that will be honoured at the this year’s ENERGY TIMES Award, scheduled to hold in Lagos. Adelabu will serve as the Special Guest of Honour and will also receive an award. According to a statement signed by the newspaper’s Editorial Board Chairman, Alhaji Yakubu Lawal, a team of industry experts was constituted as a body of advisers to strengthen the content and credibility of the award. Lawal further…
Uche Cecil Izuora Falcon Aerospace Limited, has sustained its push for large-scale funding and accelerates its international expansion across key global markets. The firm has also appointed Moshood Bode Abolade as an Independent Non-Executive Director to its Board. Falcon Aero is the mother brand of private aviation firm, VivaJets. Mr. Abolade is a highly accomplished infrastructure finance and investment professional with a distinguished career spanning investment banking, energy, and core infrastructure. His appointment is expected to provide critical oversight and strategic financial guidance as Falcon Aero transitions into its next phase of capital raising and multi-regional growth. Accepting the…
Yemisi Izuora The Nigerian Content Development and Monitoring Board (NCDMB) has successfully concluded a digital skills training programme for 60 youths from the North Central and Southwest zone respectively aimed at bridging critical skill gaps and enhancing their employability and entrepreneurial capabilities. Speaking separately at the closing ceremony held in Abuja and Lagos, NCDMB’s Executive Secretary, Engr. Felix Omatsola Ogbe, stated that the initiative aligns with the Board’s core mandate to develop local capacity, particularly within the oil and gas sector and its related industries. He pointed that the skill enhancement programme for Nigerian youths seeks to prepare them…
Yemisi Izuora Local oil and gas companies in Nigeria have consistently stepped up production capacity creating jobs and mobilizing resources to sustain operations, says the Managing Director of Renaissance Africa Energy Company Limited, Engr. Tony Attah. However in moving forward, Attah, predicted that many indigenous oil and gas operators in Nigeria will within the next decade consolidate strategically and form consortiums to take advantage of emerging opportunities. He made the remarks while delivering a presentation at the Nigerian Content Academy Lecture on Thursday, entitled “Finding Funds for Effective and Efficient Local Content Initiatives – IPPG Perspective,”. He projected that…
Uche Cecil Izuora Ongoing reforms in Nigeria’s oil and gas industry has been adjudged as attracting foreign investors and restoring confidence in the sector with more brownfield development. Nigeria’s onshore, swamp, and shallow-water basins remain among the most technically rich and commercially attractive in Africa, it could even be argued in the world. According to Paul Sinclair, the Chief Executive Officer (CEO), AOW:Energy The momentum we are seeing around interest in marginal fields, mature assets, and brownfield redevelopment reflects a significant shift in how nations and investors are approaching upstream value creation. Around Africa, marginal and mature fields are…
Uche Cecil Izuora Oil major, TotalEnergies is speeding up on a broad slate of upstream and LNG projects across Africa, positioning the region as a key driver of production growth through 2026 and beyond. The company’s African portfolio accounts for roughly half of its operated production and remains its largest area of exploration spending. Several projects are now moving into execution and development phases, APO Group reported. In the Republic of Congo, TotalEnergies committed $500 million in 2025 to drill additional wells at the Moho Nord field, targeting incremental output of approximately 40,000 bpd. The asset already represents about half of…