Category: Energy

Sylva: Theft, Pipeline Vandalism Responsible For Crude Losses
February 21, 2023 No Responses

Sylva: Theft, Pipeline Vandalism Responsible For Crude Losses

The Minister of State Petroleum Resources, Chief Timipre Sylva has attributed loss of revenue from crude production to theft, pipeline vandalism and decayed infrastructure.  The minister, in a statement on Monday by his Senior Adviser, Media and Communications, Horatius Egua...
read more
SNEPCo’s Bonga FPSO Hits 1b Barrel Milestone
February 14, 2023 No Responses

SNEPCo’s Bonga FPSO Hits 1b Barrel Milestone

Nigeria’s first deep-water exploration and production vessel, Bonga, hit a one-billion-barrel oil export mark on Monday.  The Managing Director, Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Mrs Elohor Aiboni, explained in a statement t...
read more
Oil Falls On Demand Concerns 
February 13, 2023 No Responses

Oil Falls On Demand Concerns 

Oil prices eased on Monday morning after rising 2% in the previous session as investors shrugged off the impact of Russian output cuts, instead focusing on short-term demand concerns stemming from refinery maintenance in Asia and the United States.  ...
read more
FEC Approves N117b For Oil Museum  
February 9, 2023 No Responses

FEC Approves N117b For Oil Museum  

The Federal Executive Council (FEC) has approved N117 billion for the construction of Oloibiri oil museum in Bayelsa.  The Minister of State for Petroleum resources, Mr Timipre Sylva, made this known when he briefed State House correspondents on the outco...
read more
NNPCL Begins Direct Supply Of Petrol To IPMAN 
February 8, 2023 No Responses

NNPCL Begins Direct Supply Of Petrol To IPMAN 

The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Tuesday disclosed that the management of the Nigerian National Petroleum Company Ltd. (NNPCL) has allocated petrol to its members directly to ease scarcity.  Mr Chinedu Okoronkwo, the N...
read more
Shell, NDDC To Reconcile Accounts  
February 6, 2023 No Responses

Shell, NDDC To Reconcile Accounts  

The Managing Director of Shell Petroleum Development Company of Nigeria Limited, SPDC, and Country Chair, Shell Companies in Nigeria, Mr. Osagie Okunbor, has pledged to work with officials of the Niger Delta Development Commission, NDDC, to reconcile the statu...
read more
G7, EU Announce Price Cap On Russian Diesel 
February 4, 2023 No Responses

G7, EU Announce Price Cap On Russian Diesel 

The Group of Seven (G7) industrialized countries, the European Union and Australia agreed to limit the price of Russian diesel on Friday.  The new price cap focuses on refined oil products, following up from a previous price cap on Russian...
read more
Geregu Power Declares 50.5% Drop In Profit  
February 3, 2023 No Responses

Geregu Power Declares 50.5% Drop In Profit  

Geregu Power Plc has reported 50.5 per cent decline in profit as revenue dropped and earnings impaired negatively.     The company, listed on the NGX last year reported N10.17billion profit in 2022 as against N20.55billion in 2021, while profit ...
read more
<strong>Price Cap On Russian Refined Fuels To Disrupt Trade</strong> 
February 3, 2023 No Responses

Price Cap On Russian Refined Fuels To Disrupt Trade 

The European Union’s ban on imports of Russian refined oil products, including diesel and jet fuel, will disrupt global flows once it takes effect on Sunday and could hurt Moscow more than an embargo on crude oil.  Although Western sanctions...
read more
NNPC Takes Over Addax Petroleum’s PSC Assets 
February 1, 2023 No Responses

NNPC Takes Over Addax Petroleum’s PSC Assets 

The Nigeria National Petroleum Company Limited (NNPCL)has taken over the operation of Production Sharing Contract (PSC) assets from Addax Petroleum Development Nigeria Limited.  The NNPCL Chief Corporate Communications Officer, Garba Deen Muhammad, explai...
read more
Edo Refinery Begins Production
January 24, 2023 No Responses

Edo Refinery Begins Production

Edo State Government-backed Edo Modular Refinery has commenced production at its 6,000bpd plant in Ologbo, Ikpoba Okha Local Government Area.  A statement sent to City Business News on Tuesday explained that the facility with its feedstock can produce 50 ...
read more
NLNG: Bonny Plant Still In Operation
January 17, 2023 No Responses

NLNG: Bonny Plant Still In Operation

The Nigeria LNG plant on Bonny Island is still active despite a force majeure declared in October 2022 and feed gas supply challenges.  Mr Andy Odeh, the General Manager, External Relations and Sustainable Development, NLNG, confirmed this in a statement....
read more
Shell To Pay First UK tax In Five Years
January 7, 2023 No Responses

Shell To Pay First UK tax In Five Years

Shell has said it will pay tax in the UK for the first time since 2017 after making huge global profits last year.  The energy firm said it expected to “take a hit” of around $2bn (£1.7bn) on profits in...
read more
ExxonMobil Sues EU To Block Energy Windfall Tax
December 31, 2022 No Responses

ExxonMobil Sues EU To Block Energy Windfall Tax

US energy giant ExxonMobil is suing the European Union (EU) in a bid to stop its new windfall tax on oil firms.  A windfall tax is imposed on firms that benefited from something they were not responsible for.  Energy firms...
read more
1 … 23 24 25 26 27 … 84