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Nigerian National Petroleum Company’s old Port Harcourt refinery is once again producing petrol, diesel and other products, as the veteran facility’s long-awaited rehabilitation process nears completion. Work continues on NNPC’s three other refineries, while the rival Dangote refinery continues to ramp up its operations.

Climate Fund Managers has made a further investment into Konexa to back commercial and industrial projects, including a renewable power plant for Nigerian Breweries’ sites in Lagos and Ama.

A sharp surge in forecourt prices has not been stemmed by the start of local gasoline sales from Dangote’s 650,000 b/d facility. This has caused a lingering dispute between Dangote and NNPC to burst in to the open, offering a glimpse of the fierce rivalry between the billionaire magnate and President Bola Ahmed Tinubu.

The Nigerian government needs an urgent boost after essential macroeconomic reform measures sparked huge public opposition. By placing President Bola Tinubu at the centre of plans to revive long stalled projects, Abuja can point to the potential for a better economic performance ahead – at least in the longer term – while opponents test the administration’s resilience with the threat of more short-term disorder.

Oando’s completion of its NAOC purchase has likely served to expedite the process of local players buying mature assets from IOCs – a precedent that bodes well for further deals, although challenges will still need to be worked through. Meanwhile, NNPC has signalled renewed focus on backing long-stalled LNG prospects, writes James Gavin.

Liquefied natural gas (LNG) is back in Nigerian National Petroleum Company (NNPC)’s sightlines, after the state giant in early September greenlit development of the country’s first floating LNG (FLNG) plant, after a lengthy delay.  NNPC has also announced that it has held talks with investors to revive the long-delayed Brass Liquefied Natural Gas and Olokola Liquefied Natural Gas (OK LNG) projects.

A small number of floating solar plants are already operating across Africa and over a dozen more are being planned. Advocates say the technology can not only generate power, but also expand the generation capacity of underperforming hydroelectric power reservoirs. As dams age and water becomes scarce, development finance institutions could a play critical role in funding the growth of a still-nascent technology, writes Tonderayi Mukeredzi.

Despite many challenges, local investors are continuing to make large bets on the mature assets being sold off by international majors. However, the wider economic environment is also difficult, with widespread protests laying bare the scale of the problems facing President Tinubu’s government, writes Leonard Lawal in Abuja with Marc Howard.

Italian major Eni has cleared the last regulatory hurdle for its deal to offload a series of onshore exploration and production licences to Nigerian local player Oando, in a transaction estimated to be worth some $500m. Eni chief executive Claudio Descalzi met with President Bola Ahmed Tinubu in Abuja on 19 July – part of a regional tour that also took in talks with the presidents of Republic of Congo and Angola. Descalzi has insisted that Eni remains committed to Nigeria.

French major TotalEnergies has agreed to sell its 10% stake in the Shell Petroleum Development Company (SPDC) joint venture to the local Chappal Energies for $860m. SPDC holds 18 licences in Nigeria’s Niger Delta. It is the latest instance of a now well-established trend for international oil companies to sell assets in the country.

Wärtsilä has added 120MW of gas-to-power capacity in Nigeria so far this year, in a sign that demand for commercial and industrial (C&I) plants remains robust. Its strong pipeline of orders in West and North Africa notably includes large offtakers seeking to balance their grids and enable increased renewable energy capacity, the Finnish engine manufacturer told African Energy.

The axing of subsidies on premium motor spirit (PMS) by President Bola Tinubu has made the fuel far more expensive for Nigerian drivers – prompting Nigeria National Petroleum Corporation to test the local appetite for compressed natural gas as an alternative transport fuel.

Aliko Dangote has kept his cards close to his chest, but his 650,000 b/d refinery in Lekki, Lagos state is set to change the regional downstream balance, writes Leonard Lawal in Lagos.

TotalEnergies and state partner Nigerian National Petroleum Company (NNPC) have taken a final investment decision (FID) to develop the Ubeta gas field in the onshore OML 58 licence area.

State-owned Nigerian National Petroleum Company (NNPC) has signed a project development agreement (PDA) with Norway’s Golar LNG for a floating liquefied natural gas (FLNG) project offshore the Niger Delta. NNPC said the development would “monetise vast proven gas reserves from shallow water resources”.