Uche Cecil Izuora Downstream marketing Association has challenged the Nigerian National Petroleum Company Limited (NNPCL), to move beyond ceremonial restarts of state run refineries to measurable indicators including commercial viability, throughput, plant availability, operating margins and returns on investment. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), advised the Company to take advantage of President Bola Ahmed Tinubu’s renewed commitment to the revival of Nigeria’s refineries, by translating the commitment into a binding, milestone-driven execution plan. In a statement, PETROAN said the President’s recent assertion that a refinery showing “ordinary flame and smoke” does not…
Author: Orientalnews Staff
Uche Cecil Izuora Oil bearing tankers sailing through the Strait of Hormuz slowed over the weekend, data showed on Monday, following attacks on tankers, while U.S.-Iran talks to resolve the Middle East conflict stalled. According to reports five commodity vessels transited the strait on Saturday, with none registered for Sunday, shiptracking data from Kpler showed, versus 31 in the prior weekend. Ships entering the strait on Saturday included an empty Very Large Crude Carrier with its Automatic Identification System switched off and an Indian-flagged Very Large Gas Carrier that used the Iranian route, Kpler data showed. A small tanker…
Uche Cecil Izuora A fresh report has shown that oil prices which soared in recent months as a result of the almost complete closure of the Strait of Hormuz, a key trade corridor connecting Asia and Europe opened revenue streams for major oil companie High fossil fuel prices according World oil report have helped to drive up the profits of oil and gas companies around the globe, particularly in the United States and Europe. As a few companies boost production to fill the gap, some oil majors have seen record earnings in the first half of the year, a…
Yemisi Izuora Top global rating firm, Moody, has cautioned that persistently high oil prices or fuel rationing could weaken broader economic activity and ultimately weigh on energy demand. However, Moody expects earnings growth for Exploration and Production (E&P) and integrated oil companies to remain elevated through 2026, supported by higher commodity prices and modest production growth. Moody’s report shows that credit conditions for global oil and gas producers strengthened during the first half of 2026, with exploration and production companies leading industry upgrades as higher crude prices improved earnings expectations. Moody’s upgraded 13 oil and gas companies globally during the first…
Uche Cecil Izuora The African Energy Chamber (AEC) has strongly advocated for an integrated regional energy network to drive industrialization, rejecting isolation and violence in favor of unity, regional collaboration, and the spirit of ubuntu. The AEC, call follows South African President Cyril Ramaphosa, advocacy for greater regional integration while strongly condemning xenophobia and the discrimination of African nationals in South Africa, emphasizing that Southern Africa cannot build a prosperous and integrated future while excluding the very people who make up the region. Speaking at the 46th SADC Ordinary Summit of Heads of State and Government in Durban, KwaZulu-Natal,…
Uche Cecil Izuora Chevron has confirmed an oil and gas condensate discovery at the 105-4X exploration well in Block 0, offshore Angola. The well is operated by wholly owned subsidiary Cabinda Gulf Oil Company Limited. The discovery marks the beginning of a new phase of work, says Kevin McLachlan, Chevron’s vice president of exploration. The company said its lead teams will now determine whether it can be developed using nearby facilities as new discoveries often become more competitive when they can be tied to existing infrastructure. “The early results are encouraging, and additional work will help determine the resource’s…
Uchenna Cecil Izuora Airtel Africa and Starlink have launched satellite-to-mobile service in the Democratic Republic of the Congo (DRC), marking the first commercial deployment in Africa. The service enables Airtel customers with compatible smartphones to access connectivity in non-terrestrial areas wherever they can see the sky. Starlink, the world’s largest satellite-to-mobile constellation with 650 launched satellites, enables light-data apps, including WhatsApp messaging, as well as SMS. Customers do not require specialised equipment or a separate device to access the service. The launch follows the strategic partnership announced by Airtel Africa and Starlink in December 2025 and the successful testing…
Uche Cecil Izuora The Nigeria Customs Service (NCS), Enugu/Anambra/Ebonyi Area Command, and the Nigeria Agricultural Quarantine Service (NAQS) have strengthened their partnership to promote safe trade and protect Nigeria’s agricultural sector from the threat of harmful pests and diseases. The renewed commitment was reaffirmed during a courtesy visit by the Comptroller of Quarantine, Enugu State and South-East Zonal Commander of NAQS, Chika Igbozulike, to the Customs Area Controller, Comptroller Adeyinka Bodunde, at the Command’s Administrative Office in Enugu. Speaking during the meeting, Igbozulike stressed the need for sustained collaboration between both agencies, particularly in the joint examination of imported…
Precious Obogo Global Influence Continental Church (GICC) will celebrate its fourth anniversary with a three-day programme from Friday, August 21, to Sunday, August 23, 2026, at its church auditorium in Ikate-Elegushi, Lekki, Lagos. The anniversary, themed “Great Is Thy Faithfulness,” is drawn from Lamentations 3:22–23 and will bring together church members, ministers, workers, families and guests for a weekend of prayer, worship, spiritual renewal, ministerial development and thanksgiving. A major feature of the anniversary is the launch of a ₦35 million fundraising campaign for the development of a Junior Church and Administrative Building. The project has been adopted as…
Yemisi Izuora Union Bank of Nigeria, has announced attaining certification under the Payment Card Industry Data Security Standard (PCI DSS) version 4.0.1, the foremost global standard governing the protection of payment card account data. The certification took effect on 11 August 2026. The PCI DSS sets a baseline of technical and operational requirements designed to safeguard environments in which payment card account data is stored, processed or transmitted. Certification confirms that a bank securely stores, processes and transmits its customers’ credit and debit card information, strengthening protection against payment card data breaches and financial fraud, while reinforcing public and…