Energy
CAMAC Energy announces $100 Million Five-Year Credit Facility
JOHANESBURG-CAMAC Energy, an independent oil and gas exploration and production company focused on energy resources in Africa, announced yesterday that its wholly owned subsidiary, CAMAC Petroleum Limited, has entered into a credit facility with Zenith Bank Plc for a
five-year senior secured term loan providing initial borrowing capacity of up to $100 million.
In a statement by the firm, It said that the U.S. dollar borrowings under the term loan facility will bear interest at the rate of LIBOR plus 7.5%, subject to a floor of 9.5% with the security package for the term loan facility to include a legal charge over OMLs 120 and 121 and an assignment of proceeds from oil sales.
It said Proceeds from the term loan facility will be used for the further expansion and development of OMLs 120 and 121
offshore Nigeria, including the Oyo Field.
Management Comments
CAMAC Energy, Senior Vice President and Chief Financial Officer of said Earl W. McNiel, said “This new credit facility provides CAMAC Energy flexible
funding at a reasonable cost to continue development of the Oyo Field.
“The dramatic increases in production and cash flow we expect to achieve at Oyo will drive near-term growth and enable us to
pursue our high-impact exploration program.”
Energy
NUPRC, NLNG Deepen Collaboration to Raise Gas Production
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has reiterated commitment to enabling a business-friendly environment and advancing the federal government’s gas agenda.
The Commission’s Chief Executive (CCE), Oritsemeyewa Eyesan, voiced the commitment during a visit by the Managing Director of Nigeria LNG Limited (NLNG), Adeleye Falade, according to a statement in Abuja by its Head, Media and Corporate Communications of the commission, Eniola Akinkuotu.
Receiving the NLNG delegation, Eyesan said: “We are deliberately repositioning the commission as a business enabler,” she said, adding “Through our monthly stakeholder engagements, we X-ray industry performance and resolve issues proactively to ensure they do not escalate.”
The NUPRC chief restated the administration’s responsiveness to the oil and gas sector, linking it to improved investor confidence and increased final investment decisions.
Eyesan added that: “The Decade of Gas is not aspirational; it is a practical framework for expanding domestic utilisation while strengthening export capacity.”
In his remarks, the NLNG Managing Director, Falade, stressed the centrality of upstream collaboration to sustaining gas supply.
Falade highlighted NLNG’s domestic Liquefied Petroleum Gas (LPG) strategy as a deliberate market-shaping intervention.
“Today, 100 per cent of our LPG production is dedicated to the domestic market — not due to reduced output, but because demand has expanded significantly,” he said.
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Looking ahead, he noted that: “Train 7, expected to come on stream next year, will increase our production capacity by about 35 per cent, positioning us to scale both domestic supply and export volumes.”
Energy
NMDPRA Credits Dangote’s Disclosure of Aviation Fuel Price with Potential Market Stability
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said the indicative gantry price for aviation fuel released by Dangote Refinery will ensure market stability and compliance by marketers.
The agency’s Director of Public Affairs, Mr. George Ene-Ita, disclosed this in Abuja on Saturday, in an interview with the News Agency of Nigeria (NAN).
Ene-Ita was reacting to the pricing and high cost of Aviation Turbine Kerosene (ATK), also known as aviation fuel or Jet A1.
The Dangote Petroleum Refinery has fixed its gantry price of ATK at N1,820 per litre, a move aimed at enhancing transparency in the sector.
This development comes at a time when Nigerians and airline operators have raised concerns over the high cost of the product and its heavy impact on the aviation industry.
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In a move to ensure market stability, fair pricing, and ease mounting pressure on airline operators and passengers, NMDPRA had earlier set a jet fuel price cap for marketers, ordering direct sales to airlines.
The NMDPRA had issued a directive that the cost of Jet A1 fuel for end-users should range between N1,760 and N1,988 per litre in Lagos, and N1,809 to N2,037 per litre in Abuja.
In spite of the advisory guidance from the NMDPRA, oil marketers have continued to sell aviation fuel to airlines at N2,230 per litre and above, deepening concerns across Nigeria’s aviation sector.
Ene-Ita said that although petroleum product prices had been deregulated, the latest indicative gantry price for ATK disclosed by the refinery would further support its monitoring efforts.
“All petroleum product prices have been deregulated.
“However, with particular emphasis on ATK, the Dangote Refinery, having released its latest indicative gantry prices, which they promised to publish daily going forward, will enable us to ensure tacit compliance by marketers and operators during our routine surveillance operations nationwide.
“We are not unmindful of the fact that what the Dangote Refinery is doing is a concession to help ease overhead cost pressures in the aviation sector in order not to truncate its operations.
“So, we will play our part to see that Nigerians benefit from the gesture,” he said.
The NMDPRA pricing framework was derived from Platts average figures recorded between April 17 and 23, reflecting prevailing global oil market conditions.
According to the regulator, while the benchmarks provide guidance on fair pricing, actual market prices may fluctuate outside the stated range depending on the timing of purchase and external factors.
It specifically cited heightened global volatility driven by geopolitical tensions, including the ongoing U.S.–Iran crisis, as a key contributor to the recent hike in aviation fuel prices.
Energy
Dangote Refinery Recalls Redeployed Engineers
On a conditional pardon after internal disciplinary measures linked to operational disruptions the Dangote Petroleum Refinery and Petrochemicals (DPRP) has recalled the engineers previously redeployed across its business units.
In an internal communication to staff, the company said the decision followed an extensive review process and numerous appeals from respected individuals, stakeholders, and the engineers. The refinery noted that while earlier actions were taken to protect operations and uphold organisational standards, it has now opted to offer a second opportunity to the staff.
Under the directive, according to a memo signed by the Group Vice President, Oil & Gas, Devakumar Edwin, all affected personnel will be invited for a meeting and subsequently reassigned to resume duties at the refinery.
It was gathered that the recall also covers those who did not take up earlier redeployment options offered by the company.
Management emphasised that the move reflects both a commitment to fairness and a belief in second chances, while reiterating that discipline, professionalism and adherence to corporate values remain non-negotiable.
“This decision was not an easy one. It reflects not only our belief in second chances but also serves as a clear reminder that loyalty, professionalism and adherence to organisational standards are non‑negotiable,” it said. “Effective immediately, all engineers previously redeployed to other business units, will be invited for a meeting and, subsequently, will be provided with an opportunity to render their services at our Petroleum Refinery. This would include those who did not avail the opportunity provided earlier for redeployment”.
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The company, however, issued a firm warning that any recurrence of misconduct would attract immediate and decisive sanctions, underscoring its zero-tolerance stance on actions capable of undermining operations.
The Dangote Refinery added that it expects the returning engineers to demonstrate renewed dedication as it continues efforts to strengthen operational efficiency and maintain its position as a key player in Nigeria’s oil and gas sector.
“We welcome our colleagues back, with the expectation of renewed dedication, and we look forward to working together to strengthen our operations and deliver excellence in the oil and gas sector,” it added.
Recall that the Dangote Group, in October 2025, redeployed some refinery engineers to other companies within the Group as part of measures to stabilise operations at the time.





