Category: Energy

NNPC To Acquire Equity In Six Private Refineries
June 1, 2021 No Responses

NNPC To Acquire Equity In Six Private Refineries

By citybusinessnews@yahoo.com   — The Nigerian National Petroleum Corporation has revealed that it is currently considering equity participation in a number of private refineries in the country in line with a Federal Government policy directive which stipulates the mandatory participation of the...
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Total Repositions, Shift To Renewable Energy Sources
May 30, 2021 No Responses

Total Repositions, Shift To Renewable Energy Sources

Foremost Oil and gas giant,  Total has rebranded as TotalEnergies as it shifts some of its focus towards renewable energy sources. Shareholders voted overwhelmingly in favour of the move and approved the firm’s environmental goals.  &#8220...
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Court Orders Shell To Cut Emissions By 45%
May 27, 2021 No Responses

Court Orders Shell To Cut Emissions By 45%

A Dutch court on Wednesday ordered Royal Dutch Shell to cut its carbon emissions by net 45% by 2030 compared to 2019 levels in a landmark case brought by climate activism groups, which hailed the decision as a victory for the planet.The...
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NNPC, SNEPCo, Total, Others Seal 20 Years Deep Water Agreement
May 26, 2021 No Responses

NNPC, SNEPCo, Total, Others Seal 20 Years Deep Water Agreement

By citybusinessnews@yahoo.com  — The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years.  The partners are Shell Niger...
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LNG Firm Completes First Reloading Operation
May 25, 2021 No Responses

LNG Firm Completes First Reloading Operation

Croatia’s first Liquefied Natural Gas (LNG) import terminal, located on the island of Krk has completed its first small-scale reloading operation.  The project noted that the liquefied natural gas was reloaded from the FSRU LNG Croatia to Avenir LNG’s...
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NLNG Signs GMoU To Drive Sustainable Community Development In Rivers State
May 21, 2021 No Responses

NLNG Signs GMoU To Drive Sustainable Community Development In Rivers State

By citybusinessnews@yahoo.com   —  Nigeria LNG Limited (NLNG) has signed Global Memoranda of Understanding (GMoU) with host communities that enable the communities to take ownership and drive sustainable community development with the active supp...
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Lagos To Deploy 20,000 Prepaid Meters In Five Communities
May 12, 2021 No Responses

Lagos To Deploy 20,000 Prepaid Meters In Five Communities

The Lagos State Government on Tuesday said it would install 20,000 prepaid energy meters to five low-income communities in the state.The Commissioner for Energy and Mineral Resources, Mr Olalere Odusote made this known in Ikeja during the year 2021 Ministerial...
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SPDC’s Pipeline Spills 276 Barrels Of Crude In April
May 11, 2021 No Responses

SPDC’s Pipeline Spills 276 Barrels Of Crude In April

The 14-inch crude trunk line operated by Shell Petroleum Development Company (SPDC) in the Niger Delta region spilled 276 barrels of crude oil in three incidents in April.  The News Agency of Nigeria (NAN) learnt on Monday that the 276...
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FG Boosts Women Participation In Energy Sector With $20m
May 8, 2021 No Responses

FG Boosts Women Participation In Energy Sector With $20m

The Federal Government has allocated $20 million to support active participation of women in Oil and Gas Sector.  Minister of State Petroleum Resources, Chief Timipire Sylva made the submission, in Abuja while playing host to executive members of Wom...
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Crude Oil Extends Gains
April 29, 2021 No Responses

Crude Oil Extends Gains

Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer offset concerns of rising COVID-19 cases in India, Japan and Brazil.Brent crude for June edged up 8 cents, or 0.1%, to...
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IBEDC Generates N7b Monthly
April 25, 2021 No Responses

IBEDC Generates N7b Monthly

Ibadan Electricity Distribution Company (IBEDC) generates over N7 billion revenue monthly from its coverage areas.   The Chief Technical Officer of IBEDC, Mr Akin Abiodun, disclosed this on Saturday during the inauguration of a new 2.5MVA, 33KV/...
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Buhari Restores Ownership Of OML 123, Others To NNPC
April 24, 2021 No Responses

Buhari Restores Ownership Of OML 123, Others To NNPC

President Muhammadu Buhari has approved the restoration of the leases on OMLs 123, 124, 126 and 137 to the Nigeria National Petroleum Corporation (NNPC) which is in production sharing contract with Addax Petroleum.  Addax Petroleum is wholly owned by Gove...
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LNG Adventure Joins Total’s Fleet
April 23, 2021 No Responses

LNG Adventure Joins Total’s Fleet

French energy major, Total has expanded its fleet with the addition of NYK Line’s liquefied natural gas carrier LNG Adventure.  The vessel capable of 174,000 cubic meters of the chilled fuel has been built by the South Korean shipyard Samsung Heavy...
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Oil Prices Drop As Covid-19 Surge Dents Demand Outlook
April 22, 2021 No Responses

Oil Prices Drop As Covid-19 Surge Dents Demand Outlook

Oil prices fell for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world’s third-biggest oil importer.Brent crude futures for June declined 95 cents, or 1.4%, to $65.62...
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