Nigeria could tap 1.7 billion barrels in new oil supply as well as 7.7 trillion cu ft of natural gas after the approval of 43 field development plans this year. The figures were reported by the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, as quoted by Nigerian media. The executive added that the […]
The furious push by AI hyperscalers to build out data centres will need about US$1.5 trillion (RM6.24 trillion) of investment-grade bonds over the next five years and extensive funding from every other corner of the market, according to an analysis by JPMorgan Chase & Co. “The question is not ‘which market will finance the AI […]
The partnership is intended to help India meet its energy requirements. India wants to invest in Angola’s exploration of crucial and rare earth minerals and petroleum refining. The Indian president met with her Angolan counterpart, President Joao Manuel Goncalves Lourenco, at the delegation level to begin her four-day state visit, as reported by The Hindu […]
Billionaire Bill Gates’ foundation will invest at least $1.4 billion over the next four years to help farmers in sub-Saharan Africa and Asia access technologies that enhance resilience to extreme weather. The funding will support innovations aimed at boosting crop yields, improving livestock production, providing digital advisory services, and restoring degraded land. “Smallholder farmers are […]
US President Donald Trump said during a meeting with five Central Asian countries on Thursday that he would look to diversify critical minerals purchases, as the US seeks to address China’s dominance in rare earths critical to advanced technology manufacturing. “One of the key items on our agenda is critical minerals,” Trump said at a […]
China’s commerce ministry on Thursday flagged fresh prospects for a trade or investment agreement with the European Union, raising the idea of negotiations for a deal similar to a landmark investment pact whose ratification was frozen in 2021. “China is willing to deepen mutually beneficial cooperation with the EU and explore the possibility of negotiating […]
Nigeria has lost $300 billion to oil theft, auditors appointed by the Nigerian parliament said this week. The oil was sold illegally both at home and abroad, the Senate committee tasked with investigating oil theft losses said, as cited by Nigerian media. “The ad hoc committee should be given the mandate to track, trace, and […]
In this episode of Follow the Money with Ugodre, Olusegun Olugbenjo sits down with Senior Analyst Idika Aja to discuss the recent N1 trillion surge in foreign investments flowing into Nigeria’s stock market. Together, they break down the latest financial results from First Bank and UBA, analyzing their performance, key drivers, and what it all means […]
The Nigerian minister made the revelation at the ongoing OTL Africa Downstream Energy Week in the country’s commercial city, Lagos. According to him, this figure reflects Africa’s energy potential and the resilience of the continent’s oil industry. “Data has shown that Africa has enough markets. By 2024, the data available shows that Africa imported $120bn […]
Oil prices fell by more than 1% on Tuesday in a third day of declines as investors assessed the effect of US sanctions on Russia’s two biggest oil companies along with a potential Opec+ plan to raise output. Brent crude futures were down 93 cents, or 1.4%, to US$64.69 a barrel at 1137 GMT. US […]