Category: Energy

Photo News
October 10, 2023 No Responses

Photo News

L-R: Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri and the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, inspecting civil work construction at the NCDMB Gas Hub at Polaku Bayelsa State during...
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NLNG Advocates For Urgent Action To Secure Gains From Gas
October 10, 2023 No Responses

NLNG Advocates For Urgent Action To Secure Gains From Gas

Nigeria must be deliberate in its desire to take opportunities offered by the energy transition, the recognition of gas as a transition fuel and the quest for clean energy to increase its gas investment and harvest the gains from gas,...
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Oil Prices Rally On Supply Disruption Fears
October 9, 2023 No Responses

Oil Prices Rally On Supply Disruption Fears

Oil prices jumped by 4% on Monday on concerns that the situation in Israel and Gaza could disrupt output from the Middle East. BBC report that West Texas Intermediate (WTI), the benchmark for US oil, rose to more than $86...
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Shell’s LNG Bunker Vessel Debuts
October 8, 2023 No Responses

Shell’s LNG Bunker Vessel Debuts

Shell’s liquefied natural gas (LNG) bunker vessel New Frontier 2 has completed its inaugural bunker operation at the Port of Jamaica. The bunkering operation was carried out in Portland Bight with the assistance of the Maritime Authority of Jamaica and...
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NCDMB Implores Indigenous Oil Operators On Nigerian Content Act
October 5, 2023 No Responses

NCDMB Implores Indigenous Oil Operators On Nigerian Content Act

The Nigerian Content Development and Monitoring Board (NCDMB) has urged the indigenous oil operators to comply with the Nigerian Content Act so as to make the industry robust for all stakeholders. The Executive Secretary (ES), Engr. Simbi Wabote, gave this...
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OPEC Chief Warns Of Prolonged High Prices
October 3, 2023 No Responses

OPEC Chief Warns Of Prolonged High Prices

The price of oil will continue to stay elevated as demand for energy increases, says the secretary general of Opec+. Opec+ is a group of 23 oil-exporting countries which decides how much crude oil to sell on the world market....
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Oil Prices Fall As Russia, Saudi Arabia Boost Supply
September 29, 2023 No Responses

Oil Prices Fall As Russia, Saudi Arabia Boost Supply

Oil prices fell in early trade on Friday after a recent rally, as profit-taking and expectations of supply increases by Russia and Saudi Arabia outweighed forecasts of positive demand from China during its Golden Week holiday.  Reuters report that Brent.....
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QatarEnergy Places $3.9b Order For 17 LNG Carriers
September 28, 2023 No Responses

QatarEnergy Places $3.9b Order For 17 LNG Carriers

Qatar’s state-owned oil and gas company QatarEnergy has signed an agreement with South Korean shipyard HD Hyundai Heavy Industries (HHI) for the construction of 17 LNG carriers. The shipbuilding contract, valued at QR14.2 billion ($3.9 billion), was revealed...
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NCDMB, NNPC, IOCs Sign Oil Production MoU
September 26, 2023 No Responses

NCDMB, NNPC, IOCs Sign Oil Production MoU

As part of measures to ramp up Nigeria’s crude oil production, the Nigerian Content Development and Monitoring Board (NCDMB), Nigerian National Petroleum Company Limited (NNPCL) and five indigenous oil companies (IOCs) have signed a Memorandum of Understandi...
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Oil Prices Rise On Supply Deficit Concerns
September 19, 2023 No Responses

Oil Prices Rise On Supply Deficit Concerns

Oil prices rose on Tuesday for the fourth consecutive session, as weak shale output in the U.S. spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia. Reuters report that U.S. West Texas...
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Oando Declares N32.9b Profit For 2021
September 19, 2023 No Responses

Oando Declares N32.9b Profit For 2021

Oando Plc, on Monday, declared N32.9 billon profit-after-tax in its full-year-ended 2021 financials. A statement explained that 2023 has seen the Company record positive highlights, including the recent announcement of its intent to acquire the Nigeria Agip Oi...
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Dana Motors Introduces CNG-Powered Vehicles In Nigeria
September 15, 2023 No Responses

Dana Motors Introduces CNG-Powered Vehicles In Nigeria

In response to rising fuel costs and increasing vehicle expenses, Dana Motors Limited, the exclusive distributor of Kia in Nigeria has announced plans to bring Compressed Natural Gas (CNG) vehicles to the Nigerian market. A statement sent to City Business...
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MOL, Shell Sign Carbon Emissions Liabilities MoU
September 10, 2023 No Responses

MOL, Shell Sign Carbon Emissions Liabilities MoU

Japanese shipping major, Mitsui O.S.K. Lines (MOL) and Shell Marine Products Singapore, a business division of Shell Eastern Trading Pte, have signed a Memorandum of Understanding (MoU) on a joint focus on the advancement of alternative maritime solutions and ...
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Shell, Firms Unveil New Hybrid Electric LNG Carrier Design
September 8, 2023 No Responses

Shell, Firms Unveil New Hybrid Electric LNG Carrier Design

Shell Shipping and Maritime, CSSC Hudong-Zhonghua Shipbuilding and Wärtsilä Marine have launched a new hybrid electric liquified natural gas (LNG) carrier design. Unveiled at this week’s Gastech 2023 in Singapore, the project is a result of a broad industr...
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