Category: Energy

Shell Reiterates Commitment To Lower CO2 Emissions In Nigeria
February 23, 2022 No Responses

Shell Reiterates Commitment To Lower CO2 Emissions In Nigeria

Nigeria’s leading energy company, Shell, has reiterated its commitment to supporting efforts to help the country meet its lower carbon emission target.  “Apart from this being the right thing to do, it is also good for our business in Nigeria,”...
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Gas Exporting Countries Okay Doha Declaration, Algeria To Host 2023 Summit 
February 23, 2022 No Responses

Gas Exporting Countries Okay Doha Declaration, Algeria To Host 2023 Summit 

The Heads of State and Government of the Gas Exporting Countries Forum (GECF) Member Countries endorsed the Doha Declaration at the end of their 6th Summit, which was underpinned by a spirit of solidarity and cooperation. The Doha Declaration also...
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LNG Trade Attains 6% Growth In 2021
February 22, 2022 No Responses

LNG Trade Attains 6% Growth In 2021

The global Liquefied Natural Gas (LNG) market is expected to remain tight this year following last year’s volatility which saw demand rise 6% and gas prices hit an all-time high, Shell said on Monday. Reuters report that Natural gas prices around...
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Anambra To Begin 13% Oil Derivation Earning From March
February 20, 2022 No Responses

Anambra To Begin 13% Oil Derivation Earning From March

Anambra will begin to earn 13 per cent derivation in line with its status as an oil producing state from March, 2022, .  The State Governor, Willie Obiano disclosed this at a parley with journalists in Aguleri, Anambra East Local...
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NLNG Refutes Report On Alleged Illegal Shipment Of Oil, Demands Apology 
February 17, 2022 No Responses

NLNG Refutes Report On Alleged Illegal Shipment Of Oil, Demands Apology 

The management of Nigeria Liquefied Natural Gas (NLNG) has described as false and malicious report of alleged illegal shipment of over $1billion oil to the United States and South American Countries.  According to NLNG, the report published Febr...
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Fuel Scarcity Bites Harder Nationwide
February 16, 2022 No Responses

Fuel Scarcity Bites Harder Nationwide

Commuters in Abuja and other parts of the country have continued to experience hardship due to non-availability of Premium Motor Spirit (PMS), also known as petrol, for over a week.  The News Agency of Nigeria (NAN) reports on Tuesday that...
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TCN Takes Delivery Of 15 Power Transformers  
February 14, 2022 No Responses

TCN Takes Delivery Of 15 Power Transformers  

As part of measures to increase power supply in the country, Transmission Company of Nigeria (TCN) has taken delivery of 15 new power transformers   In a statement at the weekend, TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah,  ex...
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Oil Hits Seven-Year High
February 5, 2022 No Responses

Oil Hits Seven-Year High

Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.Reuters reports that Brent ...
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ExxonMobil Eyes More Long-Term Gas Supply Deals With India
February 5, 2022 No Responses

ExxonMobil Eyes More Long-Term Gas Supply Deals With India

Global energy major ExxonMobil is looking at signing more long-term gas sales deals with India as rising spot prices have added to the appeal of longer duration contracts.“We’re certainly happy to work with our friends and partners in India to ...
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Nigeria’s Fuel Subsidies Back Under The Spotlight
February 5, 2022 No Responses

Nigeria’s Fuel Subsidies Back Under The Spotlight

By LukmanOtunuga, Senior Research Analyst At FXTM — The explosive surge in oil prices over the past few months has been good news to energy producing countries including Nigeria. It is worth keeping in mind that Africa’s largest economy acquires...
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2021:Shell Declares $20.1b Net Profit
February 4, 2022 No Responses

2021:Shell Declares $20.1b Net Profit

Shell surged back into profit last year as oil prices rocketed on recovering demand with economies reopening from pandemic lockdowns. Net profit stood at US$20.1 billion following a loss after tax of US$21.7 billion in 2020, Shell said in a...
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Ikeja Electric To Increase Supply Across Network In 2022
February 1, 2022 No Responses

Ikeja Electric To Increase Supply Across Network In 2022

Ikeja Electric Plc says its 2022 targets include growth in energy which will increase supply across its network.  Already, the electricity Distribution Company has outlined several projects for 2022 across its six business Units – Shomolu, Oshodi, Abule...
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Oil Falls On Profit-Taking
January 27, 2022 No Responses

Oil Falls On Profit-Taking

Oil prices fell on Thursday as investors cashed in profits from the 2per cent gains in the previous session after the U.S. Federal Reserve indicated an interest rate hike in March, leading to a technical correction in surging energy markets....
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NLNG Seeks Partnership With NMDPRA On Domestic Gas Supply
January 26, 2022 No Responses

NLNG Seeks Partnership With NMDPRA On Domestic Gas Supply

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has expressed readiness to partner with Nigerian Liquified Natural Gas (NLNG) company towards solving Nigeria’s energy challenges. According to the Authority, the partnership will ...
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