Abuja, Dec. 12, 2025 – The NNPC Escravos–Lagos Pipeline has been damaged by an explosion which occurred near Tebijor, Okpele, and Ikpopo communities in Gbaramatu Kingdom, Delta State on Wednesday evening. The Nigerian National Petroleum Company (NNPC) Limited confirmed the incidence in a statement signed by Andy Odeh, its Chief Corporate Communications Officer. It said the explosion was reported at about 17:50 hours on Dec. 10, 2025. According to the statement, initial observations indicated a pressure drop consistent with a loss of containment on an NNPC Gas Infrastructure Company …
OPEC data indicate close oil supply-demand balance in 2026, no glut
London, Dec 12, 2025 – World oil supply will match demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with projections from the International Energy Agency and others of a huge glut. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries, Russia and other allies plans to pause production hikes in the first quarter of 2026, amid widespread predictions of oversupply. In a monthly report on Thursday, OPEC said that OPEC+ pumped 43.06 million barrels per day of crude in November, up 43,000 …
Oil gains on Venezuelan supply concerns, but poised for weekly loss
Tokyo, Dec 12, 2025 – Oil prices rose on Friday supported by concerns of Venezuelan supply disruptions, though they remained on track for a weekly drop amid cautious market sentiment and optimism over the prospects for a Russia-Ukraine peace deal. Brent crude futures rose 32 cents, or 0.52%, to $61.60 a barrel by 0718 GMT, and U.S. West Texas Intermediate crude was at $57.94 a barrel, up 34 cents, or 0.59%. The U.S. is preparing to intercept more ships transporting Venezuelan oil following the seizure of a tanker this week, as …
NNPC E&P Limited hits record 355,000 bpd production
…Nigeria’s Energy Revival Already Happening, Says Ojulari Abuja, Dec. 10, 2025 – NNPC E&P Limited (NEPL), the flagship upstream subsidiary of NNPC Limited, achieved a record production level of 355,000 barrels of oil per day On on Dec, 1, 2025,, its highest daily output since 1989. This was disclosed in a statement signed by Andy Odeh, the NNPC Chief Corporate Communications Officer The milestone marks a significant step forward for Nigeria’s upstream sector and reflects the company’s ongoing transformation anchored on efficiency and discipline. The figures show genuine transformation: …
Oil steady as market watches Ukraine peace talks, Fed rate decision
Singapore, Dec. 10, 2025 – Oil prices held steady on Wednesday after falling about 1% in the previous session, as investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates. Brent crude futures were up 19 cents, or 0.3%, to $62.13 a barrel at 0645 GMT. U.S. West Texas Intermediate crude was at $58.44 a barrel, up 19 cents, or 0.3%. “Oil markets are currently struggling for direction as far as we can see, with a minor lift from falling U.S. inventories as …
NNPC, Heirs Energies strike deals to curb emissions, boost energy
Lagos, Dec 10, 2025 – Nigeria’s Heirs Energies and state oil firm NNPC said on Wednesday they had signed agreements with five investors to capture and monetise gas that would otherwise be wasted through flaring, where the fuel is burned in the open. Nigeria holds Africa’s largest proven gas reserves and is betting on gas to drive industrial growth and cut emissions. Its Decade of Gas policy aims to boost domestic supply, reduce flaring and expand LNG exports. But recent World Bank data show flaring rose 12% in 2024, …
Oil edges down with Ukraine peace talks, US rate decision in spotlight
Singapore, Dec 9, 2025 – Oil prices edged down on Tuesday, extending losses from the 2% drop in the previous session, with markets keeping a close eye on peace talks to end Russia’s war in Ukraine, concerns about ample supply and a looming decision on U.S. interest rates. Brent crude futures were down 7 cents, or 0.1%, to $62.42 a barrel at 0717 GMT. U.S. West Texas Intermediate crude was at $58.75, down 13 cents, or 0.2%. Both contracts fell by more than $1 a barrel on Monday after Iraq …
Shell Nigeria Gas Limited expands operations as new customer connects in Ogun state
Lagos, Dec. 8, 2025 – Shell Nigeria Gas Limited (SNG) is expanding its operations in Ogun State with an agreement to provide gas to SG Industrial FZE, a leading steel company in the Guandong industrial zone in the State. The agreement adds to a growing list of clients for SNG which has developed as a dependable supplier of gas through distribution pipelines of some 150km, serving over 150 clients in Abia, Bayelsa, Ogun, and Rivers states. The company recorded the achievements working in close collaboration with NNPC Gas Marketing Limited …
Oil prices fall as markets watch Russia-Ukraine peace efforts
Tokyo, Dec. 3, 2025 – Oil prices slipped for a second consecutive session on Wednesday, as traders awaited the outcome of Russia-Ukraine peace talks that could boost supply, while concerns over a potential surplus grew amid rising inventories. By midday, prices were steady, with Brent crude up 2 cents, or 0.03%, at $62.47 at 0427 GMT, while U.S. West Texas Intermediate rose 3 cents, or 0.05%, to $58.67. This “weakness comes despite continued Ukrainian attacks on Russian energy infrastructure. Also, Moscow warns that it might start striking ships of …
Oil edges down as investors assess oversupply, geopolitics
London, Dec 2, 2025 – Oil prices fell slightly on Tuesday as traders weighed up risks from Ukrainian drone strikes on Russian energy sites and concerns about oversupply. Brent crude futures fell 38 cents, or 0.6%, to $62.79 a barrel by 1420 GMT. U.S. West Texas Intermediate crude was down 36 cents, or 0.6%, to stand at $58.96 a barrel. Both benchmarks advanced more than 1% on Monday, while WTI was near a two-week high. “The latest goings-on in the oversupplied global picture putting pressure on prices have been …