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New report reveals Nigeriaโ€™s oil industry outperforms other sectors in June

A new report by the Nigerian Economic Summit Group (NESG) shows that Nigeria’s oil and gas sector outpaced all other sectors in June, driven by offshore investment, export performance, among others.

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Nigeria burns $2.6 billion on crude oil importation amid growing local refineries

In the first quarter of 2025, Nigeriaโ€”Africa’s leading oil producerโ€”spent over $2 billion exporting crude oil. This shift, largely driven by the rise in local refining capacity, suggests the country may be transitioning from petrol import dependency to a new form of importation: crude oil, which it traditionally exports.

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Burundi commissions the Jiji hydroelectric power plant, first phase of $320 million project

Burundiโ€™s President ร‰variste Ndayishimiye inaugurated the power plant, marking the first phase of the $320 million Power Project.

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Explainer: How the new tax reform laws will affect Nigeria’s oil and gas sector

The new tax laws signed by the president will have major effects on the countryโ€™s oil and gas sector. From tax credits to significant export exemptions, the laws represent a complete overhaul of the previous business-as-usual approach.

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Shell, Eni, Chevron win big as Egypt awards latest bid round

The bidding round is expected to attract billion of dollars in investment from the supermajor oil companies.

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Libya, Turkey to explore four offshore sites under new energy deal

Libyaโ€™s National Oil Corporation and Turkish Petroleum Corporation (TPAO) have signed a memorandum of understanding (MoU) to jointly conduct geological and geophysical studies across four offshore blocks in the Mediterranean

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Will Egypt’s gas crisis get a lifeline as Israel-Iran conflict de-escalates?

Currently, Egypt relies on Israel for roughly one-fifth of its total natural gas consumptionโ€”a striking reversal of roles for the North African country who was once a leading gas exporter on the continent.

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Namibia’s oil miracle: How a desert nation is emerging as Africaโ€™s new energy frontier

Namibia is now at the centre of a reawakening of continental energy. The turning point came in 2022, when two significant offshore oil discoveries by Shell and TotalEnergies in the Orange Basin revealed multi-billion-barrel reserves, sparking global interest.

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