Latest Energy news,commentary and analysis
WTI Crude(November Contract) $58.28/bbl , -1.97%
London, October 14, 2025, (Oilandgaspress) –––Shell Nigeria Exploration and Production Company Limited (SNEPCo), together with Sunlink Energies and Resources Limited, have taken a final investment decision (FID) on the HI gas project offshore Nigeria.
When completed, the project will supply 350 million standard cubic feet (approximately 60 thousand barrels of oil equivalent) of gas per day at peak production to Nigeria LNG (NLNG; Shell interest 25.6%), which produces and exports liquefied natural gas (LNG) to global markets. Production is expected to begin before the end of this decade.
“Following recent investment decisions related to the Bonga deep-water development, today’s announcement demonstrates our continued commitment to Nigeria’s energy sector, with a focus on Deepwater and Integrated Gas,” said Peter Costello, Shell’s Upstream President. “This Upstream project will help Shell grow our leading Integrated Gas portfolio, while supporting Nigeria’s plans to become a more significant player in the global LNG market.”
The increase in feedstock to NLNG, via the Train 7 project that aims to expand the Bonny Island terminal’s production capacity, is in line with Shell’s plans to grow its global LNG volumes by an average of 4-5% per year until 2030. It will also bolster NLNG’s contribution to Nigeria’s national economic development goals, including jobs in construction and operations. The HI field was discovered in 1985 and lies in 100m of water depth around 50km from the shore. The current estimated recoverable resource volumes of the HI project are approximately 285 mmboe (million barrels of oil equivalent). Read More
EDP has inaugurated Monti di Eboli, its first European photovoltaic plant designed for dual use of land through grazing and pasture. Located in Southwest Italy, in the province of Salerno (Campania), the project showcases how renewable energy generation can coexist with traditional land management practices, contributing to both local clean energy production and sustainable use of the land.
With an installed capacity of 10 MWp (8.3 MWac), the facility integrates tracking photovoltaic structures that optimize energy yield by adjusting panel orientation to the sun. Nearly 17,000 modules generate around 17 GWh of clean energy per year, equivalent to the electricity consumption of approximately 6,500 households, while avoiding more than 7,200 tons of CO₂ emissions annually.
The site is also a grazing ground for around 250 sheep, which naturally control vegetation under the panels. This reduces the need for mechanical mowing, cuts operational costs, and improves site sustainability. In return, the animals benefit from shade that lowers their water needs and helps maintain grass cover during drought periods, creating a balanced system for both energy production and farming.. Read More
72.64% of Nigeria’s petrol imported . Nigeria’s reliance on petrol imports has deepened despite the commissioning of the 650,000-barrel-per-day Dangote Refinery, as new data reveal that imported petrol accounted for 72.64 per cent of total national consumption in the last nine months. According to figures from the Federation Account Allocation Committee (FAAC), the country consumed 12.5 billion litres of petrol between October 2024 and July 2025, of which 9.08 billion litres were imported, while 3.5 billion litres came from domestic supply, mainly the Dangote Refinery. Despite being Africa’s largest oil producer, the country still struggles to supply its own refineries with adequate feedstock. Dangote Refinery, for example, imported nearly 20 per cent of its crude from the United States in 2024, underscoring the challenge of securing local crude under Nigeria’s current production constraints. Read More
ARDA Week 2026 conference will mark two decades of the African Refiners and Distributors Association (ARDA) driving downstream transformation across the continent — and promises to be the most dynamic edition yet. Taking place from 13th to 17th April 2026 in Cape Town, South Africa, this milestone event will bring together refiners, distributors, regulators, government representatives, investors, traders, technology providers, and international partners. Attendees will share insights, forge partnerships, and explore the innovations and strategies shaping the next era of Africa’s oil and energy industry. Read More
China, Iceland to boost geothermal, green energy cooperationAt the invitation of the President of the People´s Republic of China Xi Jinping, President of Iceland Halla Tómasdóttir visited China 12-18 October 2025 and attended the Global Leaders’ Meeting on Women in Beijing. The two heads of state held talks in a cordial and friendly atmosphere.
The two sides agreed that climate change is one of the major challenges of our time and reiterated the commitment of their countries to uphold and implement the United Nations Framework Convention on Climate Change and its Paris Agreement, reflecting equity and the principle of common but differentiated responsibilities and based on their respective national circumstances.
Towards this end the two parties agreed that geothermal energy plays a significant role in mitigating climate change and in green transition, and agreed to further strengthen green cooperation in the following areas:
The two sides will strengthen intergovernmental and inter-industry cooperation to develop geothermal energy potentials on global, regional and national levels based on the long-standing cooperation between the two sides, promote the use of geothermal energy to reduce greenhouse gas emissions, promote energy transition, create new green industries and employment opportunities, and continuously improve quality of life.
The two sides will support and promote sustainable development policies, measures and practices, develop circular economy and sustainable green value chains, encourage green innovation and low-carbon solutions and promote women´s empowerment and gender equality in these processes. Both sides will jointly promote global governance of plastic pollution. Read More .
Eswatini National Petroleum Company (ENPC) Established under the Petroleum Act of 2020, ENPC was born from a national vision: to guarantee petroleum supply security, build resilience, and reduce dependence on external suppliers. Since its inception, ENPC’s success has been fuelled not only by its determination to safeguard Eswatini’s energy future but also by its active membership in the African Refiners and Distributors Association (ARDA). Through ARDA’s network, ENPC has gained access to valuable industry insights, regulatory guidance, and best practices. These resources have enabled the company to accelerate its growth, improve compliance, and connect with the right partners to achieve its ambitious goals. ENPC has worked to build the infrastructure and systems needed to protect Eswatini’s energy future. One of its flagship projects is the planned Strategic Fuel Reserve Facility (SFRF), designed to store 80 million litres of fuel (equivalent to 60 days of national supply), with a longer-term vision of achieving a 90-day supply buffer. Construction is expected to commence in 2026, marking a significant milestone for both Eswatini and the wider regional energy landscape.
ENPC has also driven innovation in the LPG sector with the introduction of Phephile Gas, the country’s first composite LPG cylinder. This groundbreaking product is lightweight, rust-free, non-explosive, and translucent—allowing users to monitor consumption safely and easily. Together, these initiatives underline ENPC’s commitment to energy security, accessibility, and consumer safety. Read More
European Union and the German Embassy in Abuja launched the German–Nigerian Flare4Value project,As part of activities marking this year’s Green Diplomacy Week, the European Union and the German Embassy in Abuja have launched the German–Nigerian Flare4Value project, a landmark initiative designed to tackle gas flaring in Nigeria while unlocking new economic opportunities through gas optimisation and greenhouse gas (GHG) mitigation.. The Flare4Value project is implemented under H₂-diplo, a GIZ programme commissioned by the German Federal Foreign Office and financed by the International Climate Initiative (IKI). H₂-diplo supports Germany’s international energy and climate diplomacy, working with partner countries to advance the use of green hydrogen in diversifying and decarbonising their economies. Nigeria remains one of the world’s top seven gas-flaring nations, losing billions in potential revenue each year while contributing significantly to GHG emissions. Read More .
Nigerian National Petroleum Company Limited (NNPC) retail outlets raised pump prices from N905 per litre to N955 per litre on Monday in areas of Abuja, including Gwarimpa, Kubwa Expressway, and Wuse Zones 4 and 6. marking the second increase within a week. The price of cooking gas has soared from N1,000 per kilogram (kg) about two weeks ago to N3,000 this week. Consequently, a 12.5kg cylinder refill that previously cost N12,500 now sells for N37,500 in Abuja, Lagos, and other parts of the country. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $58.09 | Down |
| Crude Oil (Brent) | USD/bbl | $61.89 | Down |
| Bonny Light 09/10/25 CBN | USD/bbl | $68.99 | — |
| Dubai | USD/bbl | $64.18 | Down |
| Natural Gas | USD/MMBtu | $3.05 | Down |
| Murban | USD/bbl | $63.55 | Down |
| OPEC basket 13/10/25OPEC | USD/bbl | $64.22 | Down |
| At press time October 14, 2025 . |
International Energy Agency (IEA) said Russia’s revenues from crude and fuel sales fell to $13.35 billion in August, due also to lower prices. That followed a steep decline in August from July.
“Persistent attacks on Russian energy infrastructure have cut Russian crude processing by an estimated 500,000 barrels per day, resulting in domestic fuel shortages and lower product exports,” the IEA said in a monthly report.
It said Russian crude and oil product exports rose by 210,000 bpd to 7.4 million bpd in September, as a pickup in crude exports more than offset the decline in oil products. Crude exports rose 370,000 bpd to 5.1 million bpd, the highest since May 2023, as lower refining throughput freed up barrels for international markets. But product exports dropped 170,000 bpd to 2.4 million bpd, mainly driven by gasoil and fuel oil. Preliminary data suggests shipments to Saudi Arabia fell in particular, the IEA said. Read More
Baker Hughes Rig Count: International -3 to 1076, :U.S. -2 to 547 Canada +3 to 193
U.S. Rig Count is down 2 from last week to 547 with oil rigs down 4 to 418, gas rigs up 2 to 120 and miscellaneous rigs unchanged at 9
Canada Rig Count is up 3 from last week to 193, with oil rigs unchanged at 129, gas rigs up 3 to 63 and miscellaneous unchanged at 1.
International Rig Count is up 8 from last month to 1,084 with land rigs up 8 to 841, offshore rigs unchanged at 243
The Worldwide Rig Count for August was 1,793, up 7 from the 1,786 counted in July 2025, and down 153, from the 1,946 counted in July 2024.
| Region | Period | Rig Count | Change |
| U.S.A | October 10, 2025 | 547 | -2 |
| Canada | October 10, 2025 | 193 | +3 |
| International | September 2025 | 1084 | +8 |
International Rig Count is down 72 rigs from last year’s count of 1,156, with land rigs down 44, offshore rigs down 28.
The average U.S. Rig Count for September was 542 up 3 from last month count of 538 and down 45 year-over-year.
The average Canada Rig Count for September was 187 up 8 rigs from last month count of 179 and down 30 year-over-year. Baker Hughes
Tillbridge Solar farm UK Energy Secretary, Ed Miliband has approved the UK’s largest solar farm to date, covering 2,000 football pitches’ worth of prime farmland. The Energy Secretary on Tuesday approved Tillbridge Solar farm near Gainsborough, Lincolnshire. The decision marks the 17th nationally-significant clean energy project approved by the government since July 2024 – enough clean energy to power the equivalent of more than 7.5 million homes – getting Britain building and boosting energy security. Read More .
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Victor Cole , victor@oilandgaspress
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