Oil and Gas
Top stories
The African Petroleum Producers Organization (APPO), the pioneer of Africa Energy Bank (AEB), has appointed global consulting firm PWC as the project management headquarters for the bank in Abuja, Nigeria.
The Africa Energy Bank (AEB), with an initial capitalization requirement of $5 billion, has received significant financial commitments from several African nations.
The founder and chairman of Heirs Energies, Tony Elumelu, has hinted that the integrated energy company doesn’t rule out the possibility of building a crude oil refinery as well as venture into petrochemicals production in the future.
Crude oil production in Nigeria and other West African countries is expected to rise from 3.7 million to 3.9 million barrels per day by the end of 2025, signaling a recovery in the region’s oil sector.
Nigeria’s indigenous oil and gas major, Aradel Holdings, recorded a 352.9% increase in staff salary payments in 2024, disbursing a total of N21 billion, up from the previous year.
Nigeria’s oil and gas sector, one of the country’s most dynamic industries, had a remarkable run in 2024. The year brought game-changing moments across the upstream, midstream, and downstream sectors, setting the stage for even bigger transformations.
