- with readers working within the Oil & Gas industries
PETROLEUM
January 2026
PRESIDENT BOLA TINUBU NOMINATES NEW BOARD MEMBERS FOR NUPRC AND NMDPRA
President Bola Tinubu forwarded 21 nominees to the Senate for confirmation to serve on the boards of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), including candidates for board chairmanship positions. The President nominated Senator Magnus Abe, a former member of the board of Nigerian National Petroleum Company Limited (NNPC Limited), as chairman of the board of the NUPRC. The President also nominated our Managing Partner, ‘Gbite Adeniji, a lawyer whose experience in the energy and natural resources sector spans over 3 decades, as the Chairman of the NMDPRA board.
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NIGERIA LEADS SUB-SAHARAN AFRICA IN UPSTREAM FIDS WITH US$5.3BN INVESTMENT IN 2025
Nigeria emerged as the top destination for upstream oil and gas investment in Sub-Saharan Africa in 2025, attracting approximately US$5.3 billion in sanctioned capital despite an 18% regional decline in upstream spending, according to a report by Wood Mackenzie. Nigeria secured one of the two Final Investment Decisions recorded across the region last year, the Shell-Sunlink HI Field (OML 144) shallow-water non-associated gas project. This was driven by the fiscal reforms in the oil and gas sector, which were aimed at restoring commercial viability and unlocking gas resources.
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PRESIDENT TINUBU APPROVES INCENTIVES FOR SHELL’S BONGA SOUTHWEST PROJECT
President Bola Ahmed Tinubu has approved targeted, investment-linked incentives to support Shell’s proposed Bonga Southwest deep offshore oil project and other deepoffshore developments. These incentives are expected to attract new capital, drive job creation, and boost foreign-exchange inflows.
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TOTALENERGIES SIGNS AGREEMENT TO DIVEST INTEREST IN RENAISSANCE JV
TotalEnergies EP Nigeria signed a Sale and Purchase Agreement with Vaaris Resources JVCo Ltd for the sale of its 10% non-operated interest in the Renaissance Joint Venture. The divestment, subject to regulatory approvals, covers participating interests and associated rights and obligations in 15 oil-producing licences.
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SEPLAT’S ANOH GAS PROJECT ACHIEVES FIRST GAS
Seplat Energy Plc has announced that its ANOH Gas Project has achieved first gas, marking the start of commercial production from the facility. Initial output was delivered to the Indorama Petrochemical Plant via the Indorama 11km gas export pipeline following regulatory approval, with condensate volumes expected to increase as the plant ramps up to design capacity.
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CHEVRON COMPLETES AWODI-07 APPRAISAL WELL
Chevron Nigeria Limited (CNL) has successfully completed the Awodi-07 appraisal/exploration well, confirming additional hydrocarbon prospects in the Awodi field offshore Nigeria. The Awodi-07 well was drilled as part of the NNPC Limited/CNL Joint Venture’s ongoing efforts to further unlock hydrocarbon potential within its asset portfolio. Following the completion of comprehensive testing, logging, and data acquisition, the well was safely secured, bringing the programme to a successful close .
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HELIOS EXITS AXXELA AFTER SELLING 75% STAKE TO BLUECORE
Helios Investment Partners completed the sale of its 75% equity stake in Axxela to Bluecore Global Energy. Axxela, a leading provider of gas distribution, CNG infrastructure and energy solutions, will now operate under Bluecore’s ownership.
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DANGOTE SIGNS US$350 MILLION AGREEMENT WITH ENGINEERING COMPANY FOR REFINERY EXPANSION
Engineers India Limited announced the signing of an agreement valued at more than US$350m with the Dangote Group to serve as Project Management Consultant and Engineering, Procurement and Construction Management Consultant for the expansion of the Dangote Refinery. Upon completion, the expansion is expected to significantly increase refining capacity, enhance local production of petroleum products and reduce Nigeria’s dependence on fuel imports.
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AKWA IBOM FLAGS OFF CONSTRUCTION OF CNG TERMINAL AND MASS TRANSIT PROJECT
The Akwa Ibom State Government has flagged off the construction of the Ibom Compressed Natural Gas (CNG) Mass Transit Terminal in Uyo and announced the procurement of 50 CNGpowered buses to support a cleaner and more affordable public transport system. The terminal is designed to serve all 31 local government areas in the State and will incorporate ancillary facilities such as gas stations and technical training centres to support operations and local capacity development.
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