Uche Cecil Izuora Nigeria has identified key strategies to improve on gas production to boost energy security. According to authorities greater access to infrastructure, capital, markets and predictable regulation are the magic wand to unlock the value of Nigeria’s estimated 215 trillion cubic feet of proven gas reserves. The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, said access to gas assets should go beyond licences and acreage, as investors could still be unable to develop assets because of inadequate infrastructure, financing constraints, regulatory uncertainty, limited evacuation capacity and insufficient market access. Ekpo, who was represented…
Author: Orientalnews Staff
Uche Cecil Izuora Spiro has said it is targeting 50,000 electric motorcycle sales by 2027 and wants to get 100,000 bikes on Nigerian roads within the next two to three years. Under a broader proposal the firm plans to expand its battery-swapping network, enter new states, and increase local assembly capacity. The electric mobility company disclosed these plans at its Spiro Nigeria Media Connect event, where its Nigeria MD and Country Head, Prasad Sane, and Head of Energy, Edward Amanambu, outlined how it intends to grow its operations and make electric motorcycles more accessible to commercial riders. Spiro currently…
Yemisi Izuora The Nigerian Content Development and Monitoring Board (NCDMB), in collaboration with Renaissance Africa Energy Company Limited, has launched a 12-month technical training programme for 60 young Nigerians to strengthen local expertise in the oil and gas industry. The programme, hosted at Nigeria Machine Tools Limited in Osogbo, Osun State, is designed to equip participants with specialised engineering knowledge and practical technical skills needed to support Nigeria’s industrial and energy sectors. General Manager of Corporate Communications at NCDMB, Dr Obinna Ezeobi, disclosed the initiative in a statement on Sunday, explaining that it was implemented under the Nigerian Content…
Yemisi Izuora The Nigerian Content Development and Monitoring Board (NCDMB) has identified access to assets, financing, technology, and markets as critical drivers of which indigenous oil firms should focus to improve upon to drive sustainable growth. The Board therefore called on indigenous oil and gas companies to strengthen their capacity and competitiveness in order to thrive in international markets. Speaking at the 2026 Energy Conference of the Association of Energy Correspondents of Nigeria (NAEC), in Lagos, the Board’s General Manager of Corporate Communications, Dr. Obinna Ezeobi, made the appeal while representing the NCDMB. He highlighted that the conference theme, “Access…
Uche Cecil Izuora As tanker traffic limits following growing insecurity along the Strait of Hormuz, Saudi Aramco is evaluating additional crude oil export routes and expanded overseas storage capacity. Report indicates that disruptions to Middle Eastern energy transportation highlight the importance of reliable supply networks and alternative shipping options. Speaking at the World Petroleum Congress in Riyadh on Monday, Aramco President and CEO Amin Nasser said the company is examining ways to strengthen its export flexibility while maintaining deliveries to international customers. The initiative comes as ongoing regional conflicts and restrictions affecting the Strait of Hormuz continue to disrupt…
Uche Cecil Izuora The Organization of Petroleum Exporting Countries (OPEC ) has reduced its global oil outlook for oil demand growth in 2026, reflecting changing market conditions and disruptions to energy consumption, while maintaining expectations for a recovery in 2027. Speaking Monday at the WPC Energy Congress in Riyadh, the OPEC Secretary General Haitham Al Ghais said the organization now expects global oil demand to increase by approximately 400,000 barrels per day this year, compared with its initial forecast of 1.4 million barrels per day. The reduction represents a significant adjustment to OPEC’s expectations as the global oil market…
Uche Cecil Izuora Uncertainties over when normal shipping activity could resume through one of the world’s most important energy transportation routes continues. The situation follows statement by Iran that it is continuing to review the United States’ response to a proposal aimed at reopening the Strait of Hormuz. Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Tehran would communicate its position to Washington through intermediaries after completing its review. He confirmed that indirect communications between the two countries remain active but provided no timetable for a formal response. Qatar and Pakistan have participated in mediation efforts intended to reduce tensions…
Uche Cecil Izuora Leading global investment banking, securities, and asset and wealth management firm Goldman Sachs has increased its December 2026 Brent crude oil price forecast to $90 per barrel from $85. The bank in arriving at the forecast cited continued supply disruptions in the Middle East and heightened geopolitical risks that could keep oil prices elevated through the remainder of the year. The investment bank’s revised outlook reflects uncertainty surrounding oil production, transportation, and export activity across the Persian Gulf, where ongoing regional tensions have disrupted established energy supply routes. Goldman Sachs estimates that geopolitical uncertainty is contributing…
The National Security Adviser (NSA), Nuhu Ribadu, has unveiled a new security framework for Nigeria’s oil and gas industry to strengthen the fight against crude oil theft, pipeline vandalism, illegal refining and other criminal activities threatening the country’s petroleum assets. The framework, known as the Standard Operating Procedure (SOP) for the Nigerian Oil and Gas Industry-Wide Security Architecture, is designed to harmonise security operations, establish clear responsibilities and improve collaboration among government security agencies, private surveillance contractors and other stakeholders. Speaking at the official unveiling of the SOP, Ribadu said Nigeria’s hydrocarbon assets remained central to the country’s economic stability,…
Voters in Kogi State have been urged to vote for the re-election of President Bola Ahmed Tinubu in the 2027 election in order to sustain ongoing reforms. The call was made by High Chief Government Ekpemupolo, popularly known as Tompolo, as he donated 25 vehicles to the PBAT Door-to-Door Movement in Kogi State for grassroots mobilisation. Tompolo, the Grand Patron of the Movement, announced the donation through the Managing Director of Tantita Security Services Nigeria Limited, Kestin Pondi, at the inauguration of the movement’s Kogi State structure in Lokoja on Monday. Tompolo said the vehicles would support the movement’s campaign…