The Chief Executive Officer of the National Petroleum Authority (NPA), Godwin Edudzi Tameklo, Esq., has given a firm assurance that businesses in the petroleum downstream sector that comply with the regulations governing the sector will be protected under his leadership.
He, however, warned that non-compliant businesses will face the full sanctions corresponding to their offense, to ensure industry growth.
He said this at the opening of the second edition of the 3-day Downstream Compliance Workshop being held at the head office of NPA in Accra.
He expressed confidence that insights and feedback gathered from the workshop would contribute meaningfully to ongoing reforms and operational efficiency.
“We are optimistic that the outcomes of this workshop will strengthen our regulatory framework and improve activities in the downstream petroleum sector,” Mr. Tameklo stated.
The three-day event will bring together key stakeholders across the petroleum downstream sector in a concerted effort to strengthen regulatory compliance and industry standards.
On Monday, the workshop featured participants from Oil Marketing Companies (OMCs) and Liquefied Petroleum Gas Marketing Companies (LPGMCs).
Day Two, which is today, Tuesday, May 13, will involve Bulk Import, Distribution, and Export Companies (BIDECs), refineries, storage and depot operators, and other allied facility providers.
The workshop will conclude tomorrow, Wednesday, May 14, 2025, with engagements targeting transport companies.
Source:https://energynewsafrica.com
Ghana’s Ministry of Energy and Green Transition has constituted an Implementation
Committee to fast-track processes to begin the construction of the country’s second gas processing plant to increase gas supply to boost electricity generation.
Ghana commissioned its first gas processing plant in 2015 to utilise natural gas from the Jubilee and Sankofa Oilfields for power generation after extensive work started in July 2011.
Due to the high cost of alternative fuels for power generation, Ghana planned to construct a second gas processing plant (GPP2) to reduce the burden of procuring expensive fuels to power the thermal plants in the west and eastern power enclaves.
In February 2023, Ghana National Gas Company signed a $700 million deal with a Consortium, comprising the Integrated Logistics Bureau Limited, Jonmoore International, Phoenix Park Limited and African Finance Corporation for the second gas processing plant under the previous administration.
Related News: Ghana: NPA Will Protect Compliant Businesses, Crack Down On Defaulters- Says Tameklo
However, with the Mahama administration embarking on reset agenda, it is likely government will do away with the deal.
The committee is chaired by Deputy Minister of Energy and Green Transition Richard Gyan Mensah, with the Project Development Co-ordinator being Guure Brown Guure.
The other members are Dr Yussif Sulemana (Advisor), Sam Arthur, Robert Lartey, James Demetrius, Wisdom Dogbey, Horace Hato, Theo Acheampong and Efua Payida.
The rest are Dr Simon Akorli, Mr Leonard Akufo -Kwapong, Hamis Ussif, James Yamoah and Laila Duweijua, Esq.
The implementation committee will be supervised by a steering committee co-chaired by the Ministers of Energy and Green Transition and Finance, John Abdulai Jinapor and Dr Ato Baah Forson, respectively.
Atuabo Gas Processing Plant in the Western Region of Ghana.
Speaking at the inauguration of the committee at the Ministry of Energy and Green Transition on Monday, May 12, 2025, both Minister for Energy and Green Transition, John Abdulai Jinapor, and Dr Cassiel Ato Baah Forson, Finance Minister, expressed concerns about the cost of imported liquid fuels for power generation, stating that they were putting pressure on public finances and threatening energy security.
Minister Jinapor explained that it has become necessary for the construction of a second gas processing plant because the country has a gas supply deficit of 100 mmscf so annually over $1 billion has to be used to buy liquid fuels to keep the power plants running.
“We are compelled to buy very expensive fuel to fill the gab. The second gas processing plant will save us close to $500 million annually,” he said.
Besides the project saving the nation from expensive fuels, the minister said it would also create direct and indirect jobs to about 1,500 people.
Once completed, the GPP II is expected to improve the supply of natural gas for power generation and industrial use, reducing the country’s reliance on liquid fuels and easing foreign exchange pressures.
On his part, Dr. Cassiel Ato Baah Forson said when the previous Mahama administration was leaving office, the country had enough gas to power all the power plants but said nothing was done only for them to return to experience a major shortfall in terms of gas supply to the power plants.
He expressed surprise that the country has to annually spend about $1 billion to buy fuels to power the thermal power plants.
Dr. Forson charged the committee, chaired by the Deputy Minister for Energy, to deliver a comprehensive implementation plan within four weeks, stressing that the country could no longer afford delays in critical infrastructure delivery.
“This is too important for our country’s welfare and economic stability. Enough of the bureaucracy; let’s get it done,” he said.
Source:https://energynewsafrica.com
Two labor unions and the Norwegian oil industry sealed a new wage deal that would ensure no strikes take place, affecting oil and gas output this year.
The talks are a regular occurrence in Norway and sometimes end with strikes if the companies refuse to give the unions what they want, which is usually higher wages for oil workers. Five years ago, the failure of the talks resulted in a strike that led to a 300,000-bpd drop in Norway’s oil production before the two sides finally reached a deal.
Three years ago a strike began again after the unions failed to convince employers to raise wages. Eventually, the Norwegian government had to intervene in order to make sure oil and gas production did not suffer at a time when Europe needed the energy security.
This year, there were no such problems and the oil and gas companies quickly agreed to raise wages by the equivalent of some $3,300 annually. The talks cover around 7,400 oil workers for companies including Equinor, Aker BP, and ConocoPhillips.
Norway is currently Europe’s largest single supplier of natural gas and also the largest producer of oil in the West. The country, which also sports some of the highest low-carbon generation capacity thanks to its abundant water resources, plans to maintain this status by investing more in both oil and gas despite net-zero plans.
This year, investment in oil and gas is seen at $22.9 billion, which would be a record high. The previous record fell in 2014, with $20.4 billion invested in hydrocarbons production—and that was when oil prices were much higher than they are now.
Earlier this year, the government awarded stakes in as many as 53 oil and gas licenses in its latest annual licensing round despite increasingly loud opposition from various environmentalist groups.
“If we are to uphold a stable production in the years to come, we must explore more and invest more,” Energy Minister Terje Aslund said in January when the new licenses were awarded. Norway has been fighting natural depletion and fewer new discoveries—alongside climate groups.
Source: Oilprice.com
The entire London Underground is down after a massive power failure on the network, a TfL source told Metro.
Tube lines have been suspended due to the power cut, and there are severe delays on other parts of the system.
The Bakerloo line, Waterloo and City line Suffragette line, which goes from Gospel Oak to Barking across north east London, have all been suspended.
The power outage has caused the Elizabeth Line, Jubilee Line and Northern Line to be part suspended, and they are all suffering severe delays.
A TFL spokesperson told Metro four lines (Bakerloo, Northern, Jubilee and the Elizabeth Line) had all been impacted by a brief power outage earlier today.
The cause of the outage is still unknown. They said power has now been restored.
TFL also said National Grid was made aware of the incident and were investigating the cause.
A TfL source earlier told Metro the entire network had been affected by the outage.
Staff at Covent Garden station are telling customers the entire London Underground is down due to a power outage, LBC has reported.
Passengers have reportedly been evacuated from Tottenham Court Road station.
It comes following a number of power outages in Spain in the last month and in the Canary Islands last month.
3.23 million people use the Tube every day, reaching 4 million on certain days.
Source: Metro.co.uk
American oil and gas firm Kosmos Energy has recorded a net loss of $111 million in the first quarter of 2025.
This is equivalent to $0.23 per diluted share.
Kosmos recorded a net loss of $105 million, or $0.22 per share, after adjusting for one-time items.
The company generated $290 million in revenue for the quarter.
This translates to an average of $65.27 per barrel of oil equivalent (BOE), excluding derivative settlements.
Kosmos Energy operates in Ghana’s Jubilee Field, the Gulf of Mexico, and Equatorial Guinea. It is also a partner in the Greater Tortue Ahmeyim Liquified Natural Gas (LNG) project offshore Mauritania and Senegal.
Kosmos produced 60,500 boepd and sold 49,600 boepd. This resulted in an underlift of 1.2 million boe.
According to a statement issued by Kosmos, planned maintenance in Ghana and the Gulf of Mexico temporarily reduced production, but the company said the shutdowns have been completed.
Kosmos and its partners exported the first LNG cargo from the Greater Tortue Ahmeyim (GTA) project in April, offshore Mauritania and Senegal.
Kosmos expects output to rise in Q2, with management reaffirming its full-year production guidance of 70,000–80,000 boepd.
Kosmos spent $86 million on capital projects in Q1, falling below guidance.
The savings came from lower costs for Ghana’s 4D seismic campaign and delayed drilling at Winterfell-4 in the Gulf of Mexico.
The company aims to cut full-year capex below the original $400 million estimate.
Kosmos also made headway on its $25 million overhead reduction target. The company reported $167 million in production expenses, or $24.99/boe, excluding GTA-related costs.
Negative free cash flow of $91 million reflected scheduled maintenance and delayed liftings. By the end of Q1, Kosmos held $2.85 billion in net debt and $400 million in available liquidity.
Supported by a strong reserve base, the company secured its $1.35 billion reserve-based lending (RBL) facility during the spring redetermination.
Kosmos expanded its oil hedging strategy during the quarter.
The company now hedges about 40% of its remaining 2025 production, with a $65/boe floor and $80/boe ceiling.
Commenting on the Company’s first quarter 2025 performance, Chairman and Chief Executive Officer Andrew G. Inglis said: “While the macro backdrop continues to be volatile, Kosmos’ priorities announced with our full year 2024 results in February remain unchanged – the delivery of free cash flow from increasing production and a rigorous focus on costs. We are seeing evidence of this with a significant reduction in year-over-year capital expenditure in the first quarter and production starting to rise in the second quarter after heavy scheduled Q1 maintenance.
“Operationally, the Greater Tortue Ahmeyim (GTA) partnership achieved a major milestone in April, exporting the first cargo from the project, with a second currently loading. Production is ramping up to the contracted sales volume, with potential to push higher towards, or beyond, the nameplate capacity of the floating LNG (FLNG) vessel of 2.7 million tonnes per annum. In Ghana, the partnership completed the 4D seismic survey. This new seismic data, combined with the latest processing techniques, will support the high-grading of the future infill drilling program.
“Financially, the actions taken in 2024 to improve the resilience of the company enable Kosmos to better withstand the current market volatility. We concluded the spring Reserve-Based Lending (RBL) redetermination with a strong reserve base supporting the $1.35 billion facility capacity, with ample liquidity. In addition, we continue to focus on reducing the company’s capital expenditure and overhead costs and are delivering the targeted reductions.
“The long-term outlook for our portfolio of high-quality assets remains positive. A 2P reserves-to-production ratio of over 20 years supports the long-term potential of Kosmos as we focus in the near term on cash generation, cost control, and debt paydown.”
Source:https://energynewsafrica.com
Ghana’s Jubilee oilfield Floating Production Storage and Offloading (FPSO) vessel, also known as the Kwame Nkrumah FPSO, experienced a technical fault on Saturday, resulting in the disruption of gas export to the Atuabo Gas Processing Plant.
A joint statement issued by Ghana’s national oil company, GNPC, and Ghana National Gas Company confirmed that the incident happened on May 10, 2025, at approximately 4:30 PM.
The statement assured that the operator is making every effort to identify the root cause of the problem, implement the necessary corrective measures, and restore gas supply to the Atuabo Gas Processing Plant as quickly and safely as possible.
“Our technical teams are working with the operator to resolve the issue,” the statement said.
Meanwhile, the Ghana National Petroleum Corporation and Ghana Gas assured the public that oil production on the FPSO remains unaffected and continues to operate steadily.
Source: https://energynewsafrica.com
Tanzania has commissioned one of the largest Compressed Natural Gas (CNG) refuelling stations on the continent, a move officials hailed as a landmark step towards reducing urban emissions and modernising the country’s public transport infrastructure.
The state-of-the-art CNG facility constructed along the bustling Dar es Salaam Rapid Transit (UDART) corridor, boasts a daily production capacity of 4.2 million cubic metres of gas and can refuel up to 1,200 vehicles per day, according to the Ministry of Energy.
During the inauguration, Tanzania also introduced first-ever public bus powered by natural gas—a prototype expected to form part of a new fleet in coming years.
Speaking at the inauguration ceremony, Deputy Minister of Energy, Ms Judith Kapinga, on behalf of Deputy Prime Minister and Minister of Energy Dr Doto Biteko, said the station is now the second-largest of its kind in Africa and the largest in the East African Community (EAC) region.
With the capacity to refuel up to 1,200 vehicles per day and operate 24 hours continuously, the station is a strategic milestone in Tanzania’s natural gas value chain and part of wider efforts to scale sustainable, cost-effective energy solutions.
Deputy Minister Kapinga credited President Samia Suluhu Hassan’s leadership for transforming energy sector challenges into tangible solutions, citing the new station as evidence of a government delivering on its commitments.
She also praised the board and management of the Tanzania Petroleum Development Corporation (TPDC) for executing the project with efficiency and foresight.
Addressing concerns over previous congestion at existing CNG refuelling stations, Ms Kapinga noted that the new facility—equipped with eight nozzles and capable of servicing eight vehicles simultaneously—directly addresses public complaints and exemplifies service delivery in action.
She emphasised the station’s role in decongesting facilities like Ubungo Maziwa and expanding clean energy access for industries, schools, hotels, and households.
Ms Kapinga instructed TPDC to maintain high safety and service standards at the new facility and to accelerate the rollout of similar stations in other regions, including Lindi and Mtwara.
She further urged continued public-private collaboration to grow CNG investments nationally and encouraged citizens to adopt gas-powered vehicle systems, citing cost savings of up to 40 per cent compared to petrol.
The CNG Mother Station boasts a daily capacity of 4.2 million cubic feet (equivalent to 120,000 kg) and is fitted with four pumps, each with dual nozzles, along with three specialized pumps to fill transport vehicles that deliver CNG to satellite stations, industries, and households.
TPDC has also initiated procurement for five mobile CNG stations to be deployed in Dar es Salaam, Morogoro, and Dodoma—an indication of the state utility’s intent to expand access to cleaner energy technologies nationwide.
TPDC acting Managing Director Francis Mwakapalila reaffirmed the corporation’s commitment to driving natural gas usage in transportation and reducing reliance on conventional fuels.
For his part, TPDC Board Chairman Ambassador Ombeni Sefue, pledged to end long queues and ensure steady availability of gas across user categories.
Dr James Mataragio, Deputy Permanent Secretary at the Ministry of Energy, underscored the national significance of the project, stating that the station not only sets a new operational standard in the region but also demonstrates Tanzania’s readiness to lead in energy diversification and decarbonization efforts.
Parliamentary Energy and Minerals Committee Vice Chairperson, Mr Kilumbe Ng’enda, expressed satisfaction with the government’s pace in gas sector development.
He pointed to affordability as a key advantage—highlighting that gas-powered transport delivers up to 40 per cent in operating cost savings compared to fuel-based alternatives.
The Ubungo District Commissioner, Albert Msando, reaffirmed the government’s commitment to protecting strategic energy infrastructure and ensuring seamless service delivery to citizens.
As Tanzania seeks to position itself as a regional clean energy hub, the commissioning of this landmark station marks a strategic inflection point in its natural gas strategy.
Source: https://energynewsafrica.com
A devastating fire at strategic fuel depots in Port Sudan entered its second day on Friday, with plumes of smoke still rising over the city.
Although sources indicate the flames have not spread to the fifth warehouse, the impact has already triggered a severe fuel crisis.
The black market price of petrol has surged to SDG 70,000 per gallon, with long queues of vehicles forming outside fuel stations.
According to a report by Radio Dabanga, public transport in Port Sudan has almost completely collapsed due to the ongoing fuel crisis, with residents struggling to find alternative means of transportation.
Similar fuel shortages have hit Kassala and River Nile states, where people are waiting for hours at petrol stations.
The Ministry of Energy has sought to calm fears, claiming fuel supplies remain stable and available.
However, former Undersecretary of Energy, Suleiman Hamed, has warned of long-term consequences, citing the destruction of one of only two strategic fuel warehouses in Port Sudan.
The Sudan Doctors Network reports 17 injuries, including nine cases of suffocation due to toxic fumes.
Hospitals across Port Sudan have been placed on emergency footing, and authorities have been urged to issue a public health alert.
Meanwhile, merchants are reportedly exploiting the crisis, and government oversight is weak.
The situation in Port Sudan remains dire, with residents facing power outages, high food prices, and a lack of clean drinking water.
The Red Sea State Security Committee issued emergency measures banning cafes, mobile vendors, and freelance tradespeople from operating in sensitive areas.
“These are potential hotspots for gatherings that could jeopardise public security,” the Committee said in a statement, pledging strict enforcement in coordination with other authorities.
The Committee added that the restrictions were temporary and intended to “contain the current situation and strengthen security in the Red Sea.”
It urged citizens to cooperate with security forces to ensure stability.
Source:https://energynewsafrica.com
The African Development Bank Group has approved a financing package totaling €26.5 million to support the development of a 62 megawatt-peak greenfield solar photovoltaic power plant in Sokodé, Togo.
The financing includes a loan of up to €18.5 million from the African Development Bank and a concessional loan of up to €8 million from the Bank-managed Sustainable Energy Fund for Africa (SEFA).
PROPACO, the French development finance agency focused on private sector growth in emerging markets, will provide additional co-financing, positioning the €61 million project as a model of effective public-private collaboration.
This project is critical for achieving Togo’s target of installing 200 MWp of renewable energy capacity by 2030.
It will pave the way for the country’s energy transition away from costly and polluting thermal generation, enhancing energy security and reliability, and accelerating the path to universal access by 2030.
Developed by French multinational power utility company Électricité de France, the project entails the design, construction, and operation of the greenfield solar plant and an 11 km transmission line in Sokodé.
Once operational, the plant is expected to generate 87 gigawatt-hours of electricity annually, delivering clean, reliable, and affordable power to communities while addressing energy deficits.
It will also help reduce annual CO₂ emissions by approximately 13.6 thousand tons, contributing to Togo’s climate commitments under the Paris Agreement.
SEFA’s support for the Sokodé Solar PV Project underscores the viability of renewable energy and catalyzes further clean energy investments in the region.
The project also supports Togo’s M300 energy compact by driving least-cost power generation through competitive bidding and boosting private sector involvement.
It aligns with the African Development Bank Group’s “Light Up and Power Africa” goal to advance sustainable, inclusive energy solutions across the continent.
Commenting on the project, Kevin Kariuki, Vice President for Power, Energy, Climate, and Green Growth at the African Development Bank, said, “The Sokodé solar project is a landmark achievement that highlights Togo’s strong commitment to the transition to renewable energy in line with the Togo M300 energy compact under preparation, and the Bank’s long-standing commitment to supporting clean energy projects across the continent.”
He noted that the project not only supports Togo’s efforts to access energy through renewables but also stimulates local economic growth and enhances the country’s energy security and reliability.
Source:https://energynewsafrica.com
President John Dramani Mahama has appointed Mustapha Abubakar Batalima as the Deputy Managing Director of the Tema Oil Refinery (TOR).
This follows the elevation of Edmond Kombat, former Deputy Managing Director, to the position of acting Managing Director.
Mustapha Abubakar served as the Deputy Chief Executive Officer for Microfinance and Small Loans Centre (MASLOC) during the first term of President Mahama.
Tema Oil Refinery (TOR) Ltd. is the nation’s first value-added investment after the Akosombo dam and was commissioned in September 1963.
Source: https://energynewsafrica.com
Zambia has commenced the construction of a 50-megawatt Solar Plant in Choma District.
The country’s Minister for Energy, Makozo Chikote, performed a groundbreaking ceremony for the project’s commencement on Friday, May 9, 2025.
The solar power plant, which includes a 20-megawatt battery energy storage system, forms part of a broader 100-megawatt project aimed at contributing to Zambia’s energy security and low-carbon development. The project aligns with President Hakainde Hichilema’s goal of delivering an additional 1,000 megawatts of electricity to the national grid by December 2025.
The project is being developed by a joint venture comprising Turkish firm YEO Teknoloji Enerji ve Endustri AS (YEO) and Zambian independent power producer GEI Power Limited.
Power generated will be supplied to the national utility, ZESCO Limited, under a long-term Power Purchase Agreement (PPA).
“This project is a strategic response to our country’s electricity deficit,” said Mr. Chikote.
“Let me be clear: technocrats must not hinder this government’s development agenda with unnecessary delays. We must deliver results, not excuses,” he added.
Mr. Chikote reaffirmed the government’s full institutional backing and directed that all employment opportunities—150 direct and 1,500 indirect jobs during the construction phase—be reserved for local people, in line with the administration’s commitment to inclusive growth.
Also present at the ceremony was Speaker of the National Assembly, Ms. Nelly Mutti, whose presence underscored the national importance of the project. Choma Central Member of Parliament Cornelius Mweetwa, who is also Southern Province Minister, echoed Mr. Chikote’s sentiments and urged residents to take ownership of the project.
“This plant is your asset. Do not allow anyone to destroy what is meant to uplift our communities. Let’s guard it as a legacy for future generations,” Mr. Mweetwa said.
His Royal Highness Chief Cooma expressed gratitude for the government’s decision to locate the project in his chiefdom and offered additional land for future expansions.
He also made a passionate appeal to his subjects to safeguard the facility.
“We thank the government for this milestone. I am prepared to offer more land if needed. But this development must be protected—it is ours, and it must serve our people well,” said Chief Cooma.
In a mark of international partnership, Mr. Huseyin Barbaros Dicle, Turkish Ambassador to Zambia, reaffirmed Turkey’s commitment to supporting Zambia’s energy goals through cooperation and investment.
Once operational, the Cooma Solar Plant is expected to strengthen Zambia’s power supply, generate employment, and contribute significantly to national and regional development.
Source:https://energynewsafrica.com
The Gambia’s National Water and Electricity Company (NAWEC) has shut down the Bijilo Primary Substation to fix a defective underground cable.
In a statement, the company said the current power outage resulting from the repair has been extended until 7:00 PM today.
“This will allow our team to safely and completely repair the defective cable,” NAWEC said.
NAWEC apologised for any inconvenience this may cause and requested the public’s patience and understanding as it works to resolve the issue as swiftly and safely as possible.
Source:https://energynewsafrica.com
The Interim Chief Executive Officer of the National Transmission Company South Africa (NTCSA), Segomoco Scheppers, is returning to Eskom Holdings, South Africa’s power utility, after concluding his secondment.
Mr. Scheppers was seconded to lead the transition and operationalize the NTCSA business in July 2024 due to his extensive experience in the Transmission Division, having joined Eskom in 1993.
He served at the NTCSA while the executive search process was underway to appoint a permanent Chief Executive Officer (CEO) for the subsidiary.
In a statement, NTCSA said Scheppers was shortlisted for the permanent role, but the Board has not yet identified the candidate to lead the business into its next phase.
The NTCSA Board praised Scheppers for his leadership at the NTCSA.
“We owe Segomoco a huge debt of thanks for the skills he brought to bear to take the transmission business to a point of separation and creating the NTCSA as a wholly owned subsidiary of Eskom Holdings,” said Priscillah Mabelane, NTCSA Board Chairperson.
“The NTCSA serves as an important catalyst in the country’s evolving energy supply industry and ending the vertical integration business model for the benefit of consumers.”
“He played a critical role in delivering the NTCSA that is designed to provide the benefits of the Electricity Regulation Amendment Act (ERAA), that paves the way for the necessary reforms in South Africa’s electricity sector, including the establishment of a competitive electricity market that will contribute meaningfully to South Africa’s energy security and inclusive economic development,” concluded Mabelane.
The statement said a formal announcement will be made in due course regarding the appointment of an Interim Chief Executive Officer (ICEO) of NTCSA to maintain the continued execution of the strategy, including bringing an accelerated Transmission Development Plan (TDP), ongoing operational unbundling activities as required by legislation, and establishing a fair, competitive market for electricity.
Source:https://energynewsafrica.com
Nigeria’s government has set a new, significantly higher, production target for the national oil company, aiming for 2.5 million barrels daily by the end of this year.
“When the new NNPC management visited me, I increased their oil production target to 2.5 million bpd from the initial two million barrels given to them by the President,” Nigeria’s petroleum resources minister, Heineken Lokpobiri told the Sun on the sidelines of the Oil Technology Conference Africa Energy Forum.
Lokpobiri believes the new target would be easy to hit based on the fact that Nigeria reached the same level of production during the pandemic despite the lack of any targeted investments in oil production growth.
“The 2.5 million bpd oil production is easily realisable because all the bottlenecks against our oil production are being addressed,” the official said.
Production data shows Nigeria has not produced oil at a rate of 2 million bpd in the past decade, with the peak at close to that figure back in 2016. Since then, production has been in a more or less gradual decline.
Pipeline vandalism and oil theft are two reasons for this, as they discourage additional investments that are much needed for a reversal in production trends. Another reason has been Big Oil strategy that has seen the supermajors curb their presence in Nigeria in favor of other locations with better prospects.
However, Exxon just made a decision to invest $1.5 billion in deepwater oil development in Nigeria. The investment will be made between 2025 and 2027 to revitalize production in the Usan deepwater oilfield, Nigeria’s Upstream Petroleum Regulatory Commission said this week.
According to Lokpobiri, the problems of pipeline vandalism and oil theft in the Niger Delta are also being addressed, which should facilitate production growth. This just leaves one problem: OPEC+ production control commitments. In this, Nigeria is in luck as Saudi Arabia recently reversed its course, switching from production control to growth.
Source: https://energynewsafrica.com 
