Category: Energy

ExxonMobil Declares $11.4b Profit In Q1
April 30, 2023 No Responses

ExxonMobil Declares $11.4b Profit In Q1

For the first three months of this year (2023), ExxonMobil’s profits more than doubled, helped by the increased demand for oil and gas. The US energy firm said cost-cutting measures also contributed to its record $11.4bn (£9.1bn) first-quarter profits, up...
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NNPCL, Norwegian Firm Seal Floating LNG Plant MoU
April 28, 2023 No Responses

NNPCL, Norwegian Firm Seal Floating LNG Plant MoU

Nigerian National Petroleum Corporation Limited (NNPCL) has signed a memorandum of understanding (MoU) with Norwegian Golar LNG, an owner and operator of marine LNG infrastructure, to build a floating LNG plant in Nigeria. The MoU was revealed in NNPC’s soci...
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NLNG Bags Local Content, Train 7 Awards 
April 20, 2023 No Responses

NLNG Bags Local Content, Train 7 Awards 

Nigeria LNG Limited (NLNG) has won the “Local Content Company of the Year 2022” award at the ongoing 2023 Nigeria International Energy Summit (NIES) in Abuja.  At an award and dinner ceremony at the State House, Abuja on Monday, NLNG...
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Expert Implores FG On Robust Gas Asset Management Plan
April 16, 2023 No Responses

Expert Implores FG On Robust Gas Asset Management Plan

The Chief Executive Officer, Kenyon International, Dr Victor Ekpenyong has urged the Federal Government to harness the abundant oil and gas resources for economic and industrial development.  Ekpenyong, a Well Controls Specialist, said that harnessin...
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OPEC Predicts 2m Barrels Per Day Shortfall By Year End
April 14, 2023 No Responses

OPEC Predicts 2m Barrels Per Day Shortfall By Year End

The oil market is heading for a significant shortfall of around two million barrels per day at the end of the year as a result of a production cut by major producers. The Organisation of the Petroleum Exporting Countries (OPEC)...
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Shell, HPA To Explore Decarbonising Ports Through Vessel Electrification
April 12, 2023 No Responses

Shell, HPA To Explore Decarbonising Ports Through Vessel Electrification

Shell Marine and Hamburg Port Authority (HPA) have signed Memorandum of Strategic Partnership (MSP) to explore decarbonizing ports through areas such as vessel electrification and the development of charging networks. World Maritime News report that the agreem...
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FG Approves Amendment Of 2022/2023 Deep Offshore Oil Block Bid Round
April 2, 2023 No Responses

FG Approves Amendment Of 2022/2023 Deep Offshore Oil Block Bid Round

President Muhammadu Buhari has approved the amendment of the 2022/2023 Deep Offshore oil block mini-bid process to accommodate concerns raised by potential local and international investors. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) explain...
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Edo Refinery Targets $125m Per Annum From Export
March 31, 2023 No Responses

Edo Refinery Targets $125m Per Annum From Export

The Edo Refinery and Petrochemical Company (ERPC) Limited, operators of the 6000bpd Modular Refinery in Ologbo, Ikpoba Okha Local Government Area, is making about $125m per annum from the export of naphtha, one of the products from its plant. The...
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NLNG Joins U.N. Group To Reduce Methane Emissions, Pursues Decarbonisation
March 23, 2023 No Responses

NLNG Joins U.N. Group To Reduce Methane Emissions, Pursues Decarbonisation

Nigeria LNG Limited (NLNG) has joined the Oil and Gas Methane Partnership (OGMP 2.0), a partnership coordinated by the United Nations Environment Programme (UNEP) to reduce methane emissions and improve the accuracy and transparency of methane emissions report...
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Oil Edges Up On Historic Swiss Banks Deal
March 20, 2023 No Responses

Oil Edges Up On Historic Swiss Banks Deal

Oil prices rose on Monday after suffering their biggest weekly loss in months as UBS struck a deal to buy Credit Suisse and some of the world’s largest central banks sought to reassure and stabilise global financial markets. Brent crude...
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Shell Lifts Force Majeure On Bonny Light Crude Exports
March 16, 2023 No Responses

Shell Lifts Force Majeure On Bonny Light Crude Exports

The Shell Petroleum Development Company of Nigeria Ltd., (SPDC), operator of the SPDC joint venture, has lifted the force majeure on Bonny export programme with effect from March 15, 2023. Mrs Bola Essien-Nelson, the Media Relations Manager of SPDC, confirmed....
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OPEC Raises Chinese Oil Demand Growth Forecast
March 15, 2023 No Responses

OPEC Raises Chinese Oil Demand Growth Forecast

The Organization of Petroleum Exporting Countries (OPEC) on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country’s COVID-19 curbs, although it left the global total steady, citing potential downside r...
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Edo Refinery Orders 150,000 Barrels Of Crude
March 13, 2023 No Responses

Edo Refinery Orders 150,000 Barrels Of Crude

The Edo Refinery has placed an order for the supply of 150,000 barrels of crude from Decklar Resources Inc and Millennium Oil and Gas Company.  The refinery was developed by the Edo Refinery and Petrochemical Company Limited (ERPC) wit...
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Seplat Energy CEO Steps Aside
March 11, 2023 No Responses

Seplat Energy CEO Steps Aside

The Chief Executive Officer, Seplat Energy Plc, Mr Roger Brown, has stepped aside from running the company for a period of seven days. The company said in a corporate disclosure made available to Nigerian Exchange Ltd.,(NGX) and signed by its...
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