Ghana: London Tribunal Dismisses $390 Million Claim Filed By PDS Against ECG
A London-based arbitration tribunal has dismissed a US$390 million claim filed against the Electricity Company of Ghana (ECG) in connection with the termination of its concession agreement during the previous administration.
The tribunal’s ruling, which follows nearly three years of proceedings, marks a decisive end to the long-running dispute arising from the contract’s termination.
In 2019, PDS took over the management of ECG under a 20-year concession agreement, which was part of the Millennium Challenge Compact (MCC) programme between the Government of Ghana and the Millennium Challenge Corporation (MCC) of the United States.
The agreement was intended to bring private-sector efficiency into ECG’s operations and improve electricity distribution across the country. However, just months into the arrangement, the Government of Ghana, through ECG, suspended and later terminated the contract.
The termination followed revelations that the payment guarantees provided by PDS—through Al Koot Insurance and Reinsurance Company of Qatar—were fraudulent.
These guarantees were a key requirement of the deal, designed to secure PDS’s financial obligations under the concession.
Despite assurances from PDS that it had fulfilled all preconditions for the transfer, investigations revealed that Al Koot had not authorised the guarantees in question.
Subsequent court rulings in Qatar, including from the Qatari Court of Cassation, confirmed that the documents were indeed forged.
Following the termination, PDS initiated arbitration proceedings in London, claiming ECG’s actions were wrongful. The company sought a declaration of wrongful termination, direct costs of about US$39.4 million, and alleged lost profits of US$351.5 million.
ECG, represented by Omnia Strategy LLP, led by Cherie Blair KC, robustly defended the case, maintaining that the termination was fully justified and in the national interest.
ECG argued that PDS had failed to exercise due diligence in verifying the authenticity of the payment guarantees—an omission that fundamentally undermined the concession.
After years of legal submissions and hearings, the London-seated tribunal dismissed all of PDS’s claims in their entirety. The tribunal upheld ECG’s position that the fraudulent guarantees went to the heart of the concession and justified its termination of the agreement.
The ruling is a major win for ECG and the Government of Ghana, shielding the state from potential financial liability amounting to hundreds of millions of dollars. It also brings closure to one of the most contentious chapters in Ghana’s recent energy sector history.
With this victory, ECG is now positioned to move forward and focus on improving power distribution for Ghanaians without the shadow of the PDS dispute.
The decision also reaffirms the state’s stance on protecting public resources and ensuring accountability in major national contracts.
Algeria: SONATRACH Appoints Nour Eddine Daoudi As New Chairman & CEO
Algeria’s national oil company, SONATRACH, has appointed Nour Eddine Daoudi as the new Chairman and Chief Executive Officer (CEO) of the SONATRACH Group.
He succeeds Mr. Rachid Hachichi and assumed office earlier this week following a brief ceremony attended by the Minister of State for Hydrocarbons and Mines, Mr. Mohamed Arkab.
In his remarks, the Minister noted that the appointment of the new Chairman and CEO comes at a time of renewed momentum in the hydrocarbons and mining sectors, reflecting the strategic vision of the President of the Republic, Mr. Abdelmadjid Tebboune.
Mr. Arkab commended SONATRACH’s achievements and emphasized the challenges and opportunities ahead for the company. He reaffirmed that Algeria continues to rely on SONATRACH to maintain its leading position among global energy players.
The Minister outlined key priorities for the company, including boosting national production capacity—particularly in natural gas—developing petrochemical projects to strengthen the processing industry, expanding international cooperation through new contracts and partnerships, accelerating the energy transition, reducing carbon emissions, and modernizing exploration and production systems with advanced digital technologies.
During the ceremony, Mr. Arkab expressed full confidence in Mr. Daoudi, describing him as a prominent figure in Algeria’s energy sector with proven technical expertise, strategic management skills, and extensive experience in negotiations with major international companies.
He also extended appreciation to Mr. Rachid Hachichi for his dedication and leadership during his tenure, commending his sense of duty and contribution to the Group’s progress.
For his part, Mr. Daoudi expressed deep appreciation for the trust placed in him by President Tebboune and the Minister of State, acknowledging the significant responsibility that comes with leading SONATRACH—a pillar of the national economy and a key driver of Algeria’s energy industry.
He pledged, with the support of the company’s management and staff, to build a stronger and more resilient SONATRACH—one that is open to new perspectives and firmly focused on the future through investments in clean and renewable energy, innovation in research and development, and enhanced competitiveness.
Mr. Daoudi emphasized that SONATRACH’s greatest asset remains its human capital and reaffirmed his vision to make the company a regional and global leader, ensuring national energy security and reinforcing Algeria’s international standing while upholding the principles of sustainability, and environmental and social responsibility.
Mr. Nour Eddine Daoudi holds a state engineering degree in geology, obtained in 1987 from the Houari Boumediene University of Science and Technology of Bab Ezzouar (USTHB) in Algiers.
He joined SONATRACH a year after graduation and has held several key positions within the Exploration Division, where he introduced modern technical and scientific methods to enhance performance and deepen geological understanding.
In 2018, he was appointed Director of the Exploration Division, a role he held until the end of 2019.
In April 2020, he became Director of Hydrocarbon Resources at ALNAFT, serving until June 2023. During his tenure, he implemented comprehensive reforms to modernize the agency, focusing on management efficiency, transparency, and improving the investment climate in Algeria’s hydrocarbon sector.
Ghana: Liberia Electricity Corporation Understudies BPA Operations
A high-level delegation from the Liberia Electricity Corporation (LEC), led by Deputy Managing Director for Technical Services, Mr. Mohammed L. Sow, has visited Ghana’s Bui Power Authority (BPA) to understudy its operations and explore collaboration in renewable energy development.
The purpose of the visit was to gain insight into BPA’s integrated renewable energy systems and explore collaborative opportunities to enhance Liberia’s energy infrastructure.
During the visit, the delegation toured BPA’s renewable energy facilities and infrastructural assets, including the 404 MW hydroelectric plant, the floating and land-based solar PV installations, staff residential facilities, and resettlement communities.
The delegation expressed deep appreciation for BPA’s innovative and diversified approach to power generation.
Speaking on behalf of the Acting CEO of BPA, Deputy CEO in charge of Engineering Operations and Technical Services, Ing. Samuel Nimako-Boateng, reaffirmed the Authority’s commitment to advancing sustainable energy solutions across Africa.
“As a recognized leader in renewable energy innovation, we look forward to partnerships with like-minded institutions and governments across the continent,” he said.
Speaking on behalf of the Acting CEO of BPA, Deputy CEO in charge of Engineering Operations and Technical Services, Ing. Samuel Nimako-Boateng, reaffirmed the Authority’s commitment to advancing sustainable energy solutions across Africa.
“As a recognized leader in renewable energy innovation, we look forward to partnerships with like-minded institutions and governments across the continent,” he said.
Nigeria: Africa Must Pursue Energy Transition On Its Own Terms — Ekperikpe Ekpo
Nigeria’s Minister of State for Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, has underscored the need for Nigeria and Africa to pursue energy transition based on their national realities rather than global general agendas.
Ekpo stated this on Wednesday during a ministerial panel session on “Global Shifts: Navigating an Era of Diverging Priorities” at the ongoing 2025 Abu Dhabi International Petroleum Exhibition and Conference.
He stressed that Nigeria, and indeed Africa, must be allowed to use their resources responsibly rather than follow externally imposed pathways that could undermine economic stability.
“Our position is clear: Nigeria and Africa cannot decarbonise into poverty. We must be allowed to use our resources responsibly to provide energy security, drive industrialisation, and ensure sustainable growth,” he said.
Ekpo emphasised that while Nigeria supports global decarbonisation goals, the energy transition must be sequential, just, and balanced, adding that the continent could not afford to decarbonise at the expense of development.
“For Nigeria today, about 80 million people are without access to electricity, and across Africa, more than 600 million still live without power. Millions also rely on biomass for cooking, which is not clean. Gas remains central to Nigeria’s energy strategy, serving as a low-emission fuel for power generation, industrialisation, transportation, and clean cooking,” he said.
The minister revealed that Nigeria was expanding renewable energy deployment in viable areas to complement natural gas utilisation and reduce carbon emissions.
He explained that while renewables were part of the country’s energy mix, heavy industrial and power loads could not yet be met solely through renewable sources.
“We are therefore taking advantage of our abundant natural gas to power our economy and ensure a just and inclusive energy transition,” he added.
The global energy industry is entering a new phase defined by recalibration rather than acceleration, as governments seek to reconcile sustainability targets with the realities of affordability, access, and security.
Amid this complexity, energy leaders are reshaping their strategies to sustain economic resilience — advancing renewables and power sector reforms while modernising legacy systems to ensure reliability and investment continuity.
The resurgence of hydrocarbons, volatility in critical minerals, and renewed regional competition for energy supply are compelling governments to strengthen domestic capacity and pursue pragmatic cooperation across borders.
Ghana: Former NPA CEO Denies OSP’s Alleged GH¢100 Million-Plus Asset Seizures
Ghana’s downstream petroleum regulator, the National Petroleum Authority (NPA), former Chief Executive Officer, Dr. Mustapha Abdul-Hamid, has denied what he described as spurious claims by the Office of the Special Prosecutor (OSP) that it has seized and frozen assets valued at more than GH¢100 million and over US$100 million linked to him.
His lawyer, Hanifa Yahaya of Hay & Partners, said no properties belonging to Dr. Abdul-Hamid have been identified, traced, or confiscated, and described the OSP’s statements as “false, misleading, and damaging.”
Dr. Abdul-Hamid is currently standing trial before the Criminal High Court in Accra on several counts of alleged corruption and financial crimes, including extortion and money laundering—charges he has flatly denied.
The next court appearance is scheduled for November 13, 2025. In a viral video circulating recently, Dr. Abdul-Hamid was heard dismissing the case as “useless,” accompanied by laughter.
His remarks appear to have irked the Office of the Special Prosecutor, which reiterated that it has seized and frozen assets valued at more than GH¢100 million and over US$100,000, with additional assets still under active tracing.
“These actions are based on strong documentary, banking, and transaction evidence linking the proceeds to the alleged offences.
This case represents a major step in protecting public funds, ensuring accountability in the petroleum sector, and affirming that no public official is above the law. The seriousness of the charges and the scale of the alleged losses make this prosecution a critical test of Ghana’s commitment to fighting corruption,” the OSP stated.
However, reacting to the OSP’s statement, HAY & Partners at Law, legal counsel for Dr. Abdul-Hamid, described the OSP’s claims as “false, misleading, and injurious,” insisting that no assets or businesses belonging to or associated with Dr. Abdul-Hamid have been identified, traced, or seized by the OSP.
“Our client owns no such assets, directly or indirectly, and no property worth the stated amount exists anywhere in connection with him,” the statement said.
The lawyers further noted that the OSP’s own amended charge sheet, filed on October 17, 2025, contains no reference to any such assets, stressing that the accompanying statement of facts is “devoid of any mention of supposed seized properties.”
The firm criticized the OSP for making public assertions inconsistent with its court filings, describing such conduct as unethical and contrary to prosecutorial standards.
“Engaging in public commentary that distorts facts before the court is inconsistent with those obligations and unbecoming of the prosecutorial office,” the statement added.
According to the lawyers, Dr. Abdul-Hamid has cooperated fully with the OSP since the commencement of investigations—honouring all invitations, appearing in court when required, and demonstrating respect for judicial processes.
“It is deeply regrettable that instead of complying with court orders, including directives to file disclosures, the OSP has chosen to engage in public theatrics and false reportage,” the lawyers said, urging the OSP to focus on “prosecutorial diligence rather than media sensationalism.”
They reminded the public that Dr. Abdul-Hamid remains innocent until proven guilty, as guaranteed by the 1992 Constitution, warning that attempts to misinform the public risk undermining the rule of law and the integrity of the judicial process.
Libya: NOC Announces New Onshore Oil Discovery In Ghadames Basin
Libya’s National Oil Corporation (NOC) has announced that its wholly owned subsidiary, Arabian Gulf Oil Company (AGOCO), has made a new oil discovery in the Ghadames Basin in northwestern Libya, near the Libyan-Algerian border.
A statement by the company, carried by Reuters, noted that the discovery was made in well H1-NC4, with daily production estimated at about 4,675 barrels of crude oil and approximately 2 million cubic feet of gas.
Last week, the Libyan state oil company also announced a new oil discovery by the Libyan subsidiary of Austrian energy firm OMV in Block 106/4 in the Sirte Basin, one of the world’s top petroleum provinces in terms of estimated reserves.
Production tests showed that the exploration well is producing more than 4,200 barrels of oil per day, with gas production expected to exceed 2.6 million cubic feet daily, the NOC said.
The well marks the first discovery for OMV in Block 106/4, under the Exploration and Production Sharing Agreement (EPSA) signed in 2008 between the NOC, as the owner, and OMV, as the operator.
OMV returned to Libya at the end of 2024 after more than a decade. Foreign oil and gas companies suspended operations in late 2011 following the toppling of Muammar Gaddafi and the subsequent civil war.
Security conditions in Libya have improved in recent months, allowing foreign majors to resume exploration activities in one of Africa’s top oil-producing nations.
Algerian state energy firm Sonatrach resumed oil and gas exploration drilling in Libya’s Ghadames Basin in mid-October.
Italy’s energy giant Eni also restarted exploration activities in the offshore area northwest of Libya after a hiatus of more than five years, the NOC said in early October.
In July, the NOC signed agreements with supermajors BP and Shell to explore and assess the oil and gas potential of several fields across the country, marking another step in Big Oil’s return to Libya.
Ghana: ‘Big Oil Investors’ Now Showing Interest In Upstream Sector – Energy Minister
The Ghanaian government’s reset agenda for the upstream petroleum sector is yielding positive results, with the investment community showing renewed interest, Energy Minister John Abdulai Jinapor has disclosed.
Speaking in Takoradi on Tuesday at the opening of the 2025 Local Content Conference and Exhibition, Mr. Jinapor stated that after a prolonged downturn that resulted in a 32% decline in oil production, the oil and gas sector is showing clear signs of recovery, driven by strategic government interventions.
He attributed the sector’s previous challenges to regulatory inefficiencies, ambiguous and inconsistent policies that sent mixed signals to investors, and burdensome tax regimes—factors that had brought the industry to its knees.
However, Mr. Jinapor emphasised that under the Mahama-led administration, targeted reforms are reversing these fortunes, expressing strong confidence in the sector’s sustained rebound. He underscored the need for concerted, long-term efforts to preserve and build on the current gains.
“Since assuming office, we’ve resolved the dispute between Springfield and ENI—a move that sent a strong positive signal. In the oil sector, consistency and clear signalling are important. I’m pleased to report that in this short time, we’ve increased gas production to approximately 50 MMSCFD. We’ve also signed a $1.5 billion framework agreement with ENI and a $2 billion agreement with the Jubilee partners. Major industry players are now showing renewed interest in Ghana,” he stated.
Also speaking at the event, Acting CEO of GNPC, Kwame Ntow Amoah, reiterated the Corporation’s leadership in driving innovation and local competence across Ghana’s petroleum sector.
Mr. Amoah called for renewed collaboration among policymakers, investors, and operators to revitalise Ghana’s exploration and production sector through technology, research, and homegrown capacity.
Highlighting progress in the Voltaian Basin Project and the establishment of GNPC’s Research & Technology Centre, he said the Corporation continues to build the systems, partnerships, and people that define Ghana’s upstream future.
“Local content must evolve beyond mere percentages to become a catalyst for competitiveness, sustainability, and growth,” Mr. Amoah concluded.
Ghana: CBOD Pushes For Stronger Collaboration Within West Africa’s Energy Sector
The Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Ghana, Dr. Patrick Ofori, has underscored the need for stronger collaboration among West African countries to boost regional energy trade and integration.
Speaking at the 19th OTL Africa Downstream Energy Week in Lagos, Nigeria, Dr. Ofori noted that unlike East Africa—where member states have advanced in integrating payment systems and pipeline contracting for product supply—West Africa continues to lag behind in developing a unified petroleum market.
“If we don’t step up our collaboration in West Africa, we will continue to operate in isolation. East Africa has made significant progress with regional payment systems and joint pipeline management. By now, we should have gone beyond just the West African Gas Pipeline,” Dr. Ofori stated.
He added that with the Dangote Refinery now operational, the region must seize the opportunity to establish a common pricing framework and create an enabling environment where refined products can move seamlessly between Nigeria, Ghana, and neighbouring markets.
“We need to create a system where petrol can move directly from Nigeria to Ghana—either through pipelines or shared vessel operations. That requires currency compatibility and a unified petroleum policy to support trade flows,” he explained.
Dr. Ofori further emphasised that Ghana and Nigeria must take the lead in driving this regional alignment, noting that other countries would naturally follow.
“You cannot downplay Nigeria’s impact on the petroleum economy. It’s a major player, and any meaningful regional integration must start with Nigeria and Ghana,” the CBOD CEO said.
Ghana: Petrol, Diesel Fuel Prices Drop, Average Petrol Price Below GH¢12
Oil Marketing Companies (OMCs) in Ghana have reduced their pump prices for petrol and diesel in the first pricing window of November 2025, with some OMCs selling petrol below GH¢12 per litre and diesel below GH¢13 per litre.
As of Wednesday, November 5, 2025, most of the major OMCs had adjusted their prices, with petrol selling between GH¢11.77 and GH¢12.58, and diesel selling between GH¢12.00 and GH¢12.77 per litre.
The decrease in fuel prices is attributed to the continued appreciation of the local currency, the cedi, against foreign currencies, as well as the decline in refined petroleum product prices on the international market.
As of Tuesday, November 4, 2025, the average interbank exchange rate for the US dollar stood at GH¢10.99.
In Ghana, fuel prices are reviewed every two weeks by OMCs, based on fluctuations in key factors such as exchange rates, refined petroleum product costs, and inflation.
In contrast, fuel prices are reviewed monthly in many other African countries.
The market leader, Star Oil, is selling Petrol (RON 91) at GH¢11.97 per litre, Petrol (RON 95) at GH¢14.68 per litre, and diesel at GH¢12.47 per litre.
GOIL is selling Petrol (RON 91) at GH¢12.52 per litre, Petrol (RON 95) at GH¢14.85 per litre, and diesel at GH¢12.76 per litre.
Shell is selling petrol at GH¢12.55 per litre and diesel at GH¢12.77 per litre, while Shell V-Power is sold at GH¢14.39 per litre.
TotalEnergies is selling petrol at GH¢12.55 per litre and diesel at GH¢16.67 per litre.
PETROSOL is selling petrol at GH¢12.48 per litre and diesel at GH¢12.98 per litre.
Other OMCs are yet to review their pump prices.
South Africa: China Donates Five Generators To Support South Africa’s Energy Security
South Africa has taken delivery of five generators from the People’s Republic of China to strengthen the country’s energy supply.
Each generator, with a capacity of 620 kW, can power more than 600 average-sized homes.
The generators were officially received by the Minister of Electricity and Energy, Dr. Kgosientsho Ramokgopa, together with the Mayor of Msunduzi Local Municipality, Cllr. Mzimkhulu Thebolla, and the People’s Republic of China’s Ambassador to South Africa, Mr. Wu Peng.
The power vehicles will be deployed during emergencies to support recovery efforts, protect lives and property, and provide backup power at major national events, reducing reliance on costly external assistance.
ADNOC Signs 15-Year Agreement With Shell For LNG Supply To Ruwais Project
Abu Dhabi National Oil Company (ADNOC) has signed a 15-year Sales and Purchase Agreement (SPA) with Shell International Trading Middle East Limited FZE, a wholly owned subsidiary of Shell plc, for the supply of up to 1 million tonnes per annum (mtpa) of liquefied natural gas (LNG).
The agreement, signed during the ongoing ADIPEC event, marks ADNOC’s first long-term LNG sales contract with Shell and the eighth long-term offtake agreement secured for the Ruwais LNG Project.
This deal converts a previous Heads of Agreement into a definitive contract and represents a major milestone in ADNOC’s efforts to accelerate the commercialization of the Ruwais LNG Project.
With this latest signing, more than 8 mtpa of the project’s planned 9.6 mtpa capacity is now secured through long-term agreements with customers across Asia and Europe—just 16 months after the project’s Final Investment Decision (FID) in July 2024.
Fatema Al Nuaimi, CEO of ADNOC Gas, said: “This agreement with Shell marks a significant milestone that reinforces ADNOC’s position as a reliable global supplier of lower-carbon LNG. Securing over 80% of Ruwais LNG’s capacity in just over a year from FID is a remarkable achievement that sets a new benchmark for large-scale LNG projects globally.
While the industry can take up to four or five years to market such volumes, Ruwais is advancing at record pace. In parallel, construction, contractor mobilization, and site works are all on track for commissioning by the end of 2028.”
The LNG will be primarily sourced from the Ruwais LNG Project, currently under development in Al Ruwais Industrial City, Abu Dhabi. Shell holds a 10% equity stake in the project through its subsidiary, Shell Overseas Holdings Limited.
Tom Summers, Executive Vice President of Shell LNG Marketing and Trading, said: “Shell’s trusted partnership with ADNOC dates back more than 50 years, and today we share a vision of strengthening global energy security through strategic collaboration. This agreement is a significant milestone in our partnership with ADNOC and supports Shell’s strategy of expanding our LNG portfolio.”
The Ruwais LNG plant will be the first LNG export facility in the Middle East and Africa to operate on clean power, making it one of the lowest-carbon-intensity LNG projects in the world. The plant will also leverage artificial intelligence (AI) and advanced technologies to enhance safety, operational efficiency, and emissions performance.
With two liquefaction trains of 4.8 mtpa each, the facility will more than double ADNOC Gas’s existing LNG production capacity to approximately 15 mtpa, supporting ADNOC’s strategy to expand its LNG portfolio to meet rising global demand.
Ghana: Energy Commission Deepens Engagement With Stakeholders To Strengthen Energy Sector
The Board of the Energy Commission has held a high-level meeting with Chief Executives of Independent Power Producers (IPPs) at the Net Zero Building, located at its head office in Accra, to enhance cooperation and address key industry concerns.
The Commission serves as the technical regulator for electricity and natural gas in Ghana.
The Board Chairman, Prof. John Gartchie Gatsi, reaffirmed the Commission’s commitment to fairness, transparency, and partnership. On local content, he clarified that the Commission will not lower the bar but assured stakeholders that steps are being taken to address the challenges faced by industry players.
Prof. Gatsi also emphasized the need for stronger collaboration with institutions such as the ECOWAS Regional Electricity Regulatory Authority (ERERA), the West African Power Pool (WAPP), and the Ghana Standards Authority. He noted that the Commission will continue to align its operations with the needs of the Ghanaian electricity market.
He further announced the appointment of a Chief Inspector to oversee compliance and technical standards within the sector.
The meeting concluded with a shared commitment to build a transparent, sustainable, and resilient energy market that supports Ghana’s long-term development goals.
Ghana: ECG Cautions Public Against Fraudulent Calls On Meter Acquisition
The Electricity Company of Ghana (ECG) has issued a strong warning to customers to be cautious of fraudulent phone calls from individuals posing as company officials and offering to expedite the acquisition of electricity meters.
According to the company, these impostors have been contacting customers under the pretext of assisting them to secure new meters or resolve meter-related challenges.
The callers often claim that ECG has taken delivery of new meters and proceed to ask whether customers have applied for one or are experiencing difficulties with their existing meters.
They then attempt to solicit personal information or money from unsuspecting victims.
ECG noted that in some instances, these fraudsters download photographs of its staff from digital platforms and use them to impersonate officials in order to extort money from customers.
Speaking in an interview, Dr. Charles Nii Ayiku Ayiku, General Manager, External Relations, clarified that ECG has not authorised any individual or third-party agent to privately contact customers about meter acquisition or related services.
“We are aware of people calling ECG customers pretending to be staff and asking if they have applied for a meter or are facing issues. They usually claim they can help secure a new meter quickly because new meters are available. This is false,” Dr. Ayiku stressed.
He emphasised that ECG does not conduct meter distribution through private phone calls, adding that all legitimate processes for new meter applications are handled strictly at ECG offices or via official platforms.
Dr. Ayiku confirmed that while ECG has indeed received new meters as part of its operational enhancements, the distribution process remains transparent and strictly guided by approved applications.
He therefore urged customers to visit the nearest ECG office to apply for a meter or seek redress for any meter-related concerns. He cautioned the public against engaging individuals who promise shortcuts or demand payment to facilitate the process.
“Customers should not pay money to anyone who claims they can get them a meter outside our offices. These are fraudulent activities intended to deceive the public,” he warned.
Dr. Ayiku further reminded customers that ECG does not operate any mobile money account, insisting that all financial transactions must be conducted exclusively through the ECG Power App or the short code *226#.
ECG encouraged customers who receive suspicious calls to report them immediately to the nearest ECG office or contact the company’s official customer service line on 0302 611 611 for verification and assistance.
The company reaffirmed its commitment to protecting customers from scams while ensuring continuous transparency and improved service delivery nationwide.
Customers who encounter such fraudulent activities are also advised to report the perpetrators to the nearest police station.
Nigeria To Boost Oil Production To 2 Million Bpd By 2027
Nigeria’s national oil company is set to increase oil production to 2 million barrels daily over the next two years, its executive vice president for upstream said. By 2030, NNPC will be pumping 3 million barrels daily, Udy Ntia also said, as quoted by the News Agency of Nigeria.
Speaking at ADIPEC in Abu Dhabi, Ntia said that “Nigeria’s upstream sector is evolving through a mix of collaboration, co-investments and smarter capital deployment, rather than competition. It is not just about producing more oil, it is about producing better oil: more efficient, cleaner, and more profitable. We have the capacity, and we are growing steadily while working together to reduce the strain of fossil fuels”.
Nigeria has been pumping more crude and drilling more new wells than it has in years, thanks to reforms under President Bola Tinubu that are finally leading to more cash flowing into the upstream industry. Daily output has climbed to between 1.7 million and 1.83 million barrels, while active rigs surged from 31 in January to 50 by July.
The revival of Nigeria’s oil industry is seen as a result of President Tinubu’s “Project One Million Barrels” and the long-awaited new law for the energy industry that should make the country’s investment environment more predictable to bring international oil majors back.
Earlier this month, oil minister Heineken Lokpobiri said recent investment decisions by oil operators could result in a production boost of 200,000 barrels daily.
Meanwhile, according to NNPC’s Ntia, artificial intelligence and other digital technologies would help boost drilling efficiency and improve recovery rates at mature fields. “We are seeing technology as an enabler to get more from the ground, improve efficiency, and guide capital decisions. The goal is smarter investment, not just more spending,” the executive said.