Category: Energy

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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Ardova CEO, Olu Adeosun, Resigns
September 1, 2023 No Responses

Ardova CEO, Olu Adeosun, Resigns

By Moses Ebosele, ebosele@hotmail.com — Ardova Plc has announced the resignation of its    Chief Executive Officer (CEO), Olu Adeosun with effect from August 31, 2023.  In a statement sent to City Business News, the company explained that...
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JTF Arrest Vessel, 10 Crew Members
August 30, 2023 No Responses

JTF Arrest Vessel, 10 Crew Members

THE Joint Task Force Operation Delta Safe (OPDS), on Tuesday arrested an oil vessel MV Ofuoma and 10 crew members conveying alleged illegally refined petroleum products in Rivers. The Component Commander OPDS, Commodore John Siyanbade, who represented the OPDS...
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Akubuiro, Gomba, Ojomu make 2023 Shortlist of Three for The Nigeria Prize for Literature 
August 29, 2023 No Responses

Akubuiro, Gomba, Ojomu make 2023 Shortlist of Three for The Nigeria Prize for Literature 

The Advisory Board for The Nigeria Prize for Literature has announced the finalists for the 2023 edition of the Prize. The shortlisted plays in alphabetical order of their titles are: The Nigeria Prize for Literature is sponsored by Nigeria LNG...
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Due Process Was Followed In NNPCL $3b Afriexim Bank Loan
August 29, 2023 No Responses

Due Process Was Followed In NNPCL $3b Afriexim Bank Loan

Due process was followed in securing the Nigeria National Petroleum Company Limited (NNPCL) $3 Billion Afriexim bank Loan, an official has said  The $3 billion loan deal, which was signed in Cairo a frothnight ago is to enable the NNPC...
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