Category: Energy

EU, US Seal Gas Deal
March 26, 2022 No Responses

EU, US Seal Gas Deal

The United States (US)  and the European Union (EU) have announced a major deal on liquified natural gas, in an attempt to reduce Europe’s reliance on Russian energy.  BBC reports that the agreement will see the US provide the EU with...
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CBN Disburses N1.3tri To Support Power Supply  
March 22, 2022 No Responses

CBN Disburses N1.3tri To Support Power Supply  

The Central Bank of Nigeria (CBN) has disbursed over N1.3 trillion to support power supply to Nigerians in the last five years.  The CBN Governor, Mr Godwin Emefiele, made the remark at a news conference following a meeting of the...
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Shell Reconsiders Exit From Oil Field Off Shetland
March 22, 2022 No Responses

Shell Reconsiders Exit From Oil Field Off Shetland

Shell is reconsidering its recent decision to pull investment from a large new UK oil field, the BBC understands. In December, Shell said the economic case – along with possible regulatory delays – meant it was withdrawing from the Cambo...
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Japan Presses UAE To Pump More Oil 
March 21, 2022 No Responses

Japan Presses UAE To Pump More Oil 

Japan on Sunday urged the United Arab Emirates to pump more oil to calm markets rocked by Russia’s invasion of Ukraine, the latest major consumer to lobby Gulf producers.The plea by Japan’s Foreign Minister Yoshimasa Hayashi came during m...
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Stakeholders Lauds NCDMB’s Investment In Base Oil Plant
March 18, 2022 No Responses

Stakeholders Lauds NCDMB’s Investment In Base Oil Plant

Key stakeholders of the oil and gas industry have commended the Nigerian Content Development and Monitoring Board (NCDMB) for catalyzing the development of critical oil and gas facilities, including Bunorr Integrated Energy Limited which would produce lube oil...
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Manufacturers Seek FG’s Intervention As Diesel Hits N720 Per Litre  
March 14, 2022 No Responses

Manufacturers Seek FG’s Intervention As Diesel Hits N720 Per Litre  

The Manufacturers Association of Nigeria (MAN), is seeking urgent intervention from the Federal Government to support the production of goods, as diesel price hits N720 per litre.  Mr Lanre Popoola, the Chairman, Manufacturers Association of Nigeria (MAN)...
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Oil Prices Plunge As UAE Supports Supply Boost 
March 10, 2022 No Responses

Oil Prices Plunge As UAE Supports Supply Boost 

Oil prices have plunged after the United Arab Emirates said it supported increasing production.  Brent crude, an international benchmark, fell more than 17% at one point after the statement by the UAE, a member of the powerful oil cartel Opec. ...
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Why Nigeria Is Unable To Meet OPEC Quota, By Sylva 
March 10, 2022 No Responses

Why Nigeria Is Unable To Meet OPEC Quota, By Sylva 

Minister of State for Petroleum Resources, Chief Timipre Sylva, has attributed the inability of Nigeria to meet the Organisation of Petroleum Exporting Countries (OPEC) quota to lack of investments in oil and gas sector.  Nigeria’s OPEC quota is pegged ...
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NLNG Commissions Consulate On Bonny Island
March 8, 2022 No Responses

NLNG Commissions Consulate On Bonny Island

The consulate building was the seat of the British colonial administration in 1897, with a district commissioner and other administrative offices. In 2019, NLNG flagged off the construction of the building to restore the memory of the ancient monument.  T...
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Oil Price Soars To Highest Level In 14 Years
March 7, 2022 No Responses

Oil Price Soars To Highest Level In 14 Years

Oil prices have soared to the highest level since 2008 after the US said it was discussing a potential embargo on Russian supplies with its allies.  Brent crude – the global oil benchmark – spiked to above $139 a barrel,...
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Shell Defends Decision To Buy Russian Crude Oil
March 7, 2022 No Responses

Shell Defends Decision To Buy Russian Crude Oil

Shell has defended its decision to purchase Russian crude oil despite the invasion and bombardment of Ukraine.  The oil giant said in a statement that the decision to purchase the fuel at a discounted price was “difficult”.  It confirmed ...
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NLNG Outlines Strategies For Achieving Decade Of Gas Initiative
March 4, 2022 No Responses

NLNG Outlines Strategies For Achieving Decade Of Gas Initiative

The Nigeria LNG Ltd (NLNG) has outlined key strategies that needs to be implemented for Nigeria to achieve the objective of the Decade of Gas initiative.  Mr Philip Mshelbila, Managing Director, NLNG, made this known at the 5th Nigeria International...
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Shell, NNPC, Totalenergies, NAOC, Dangote Fertilizer Seal Gas Supply Deal
March 3, 2022 No Responses

Shell, NNPC, Totalenergies, NAOC, Dangote Fertilizer Seal Gas Supply Deal

Leading energy company, The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners – Nigerian National Petroleum Corporation Limited (NNPC), Totalenergies EP Nigeria Limited, and Nigerian Agip Oil Company (NAOC) – on W...
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Nigeria Signs Natural Gas MoU With Equatorial Guinea
March 2, 2022 No Responses

Nigeria Signs Natural Gas MoU With Equatorial Guinea

Nigeria and Equatorial Guinea on Tuesday signed landmark Memorandum of Understanding (MoU) to supply gas from Nigerian offshore fields to the neighbouring Equatorial Guinea Gas Processing Facility at Punta Europa.  A statement sent to City Business News expla...
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