Category: Energy

Oil Prices Edge Up Over Supply Worries
January 10, 2022 No Responses

Oil Prices Edge Up Over Supply Worries

Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. Brent crude gained 16 cents, or 0.2%, at $81.91 a barrel at 0406 GMT, while U.S....
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OPEC Oil Output Undershoots Target
January 7, 2022 No Responses

OPEC Oil Output Undershoots Target

Increase in the Organization of Petroleum Exporting Countries (OPEC) oil output in December has again undershot the rise planned under a deal with allies, a Reuters survey found on Thursday, highlighting capacity constraints that are limiting supply as gl...
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FG To Revive 215MW Kudenda Power Project
January 5, 2022 No Responses

FG To Revive 215MW Kudenda Power Project

The Federal Government will revive a 215 Megawatts Power Project in Kaduna State, Minister of Power, Abubakar Aliyu has said.  Aliyu stated this shortly after inspecting the project on Tuesday at Kudenda in Kaduna South Local Government Area of the...
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Barkindo Hails New OPEC Sec. Gen
January 4, 2022 No Responses

Barkindo Hails New OPEC Sec. Gen

Secretary General, Organisation of the Petroleum Exporting Countries (OPEC), Mr Mohammad Barkindo,  says the organisation will be in  capable hands with his successor, Mr Haitham Al Ghais.  Barkindo made this known in a congratulatory messa...
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NNPC Explains Fire Outbreak At Port Harcourt Refinery
January 3, 2022 No Responses

NNPC Explains Fire Outbreak At Port Harcourt Refinery

The Nigerian National Petroleum Corporation (NNPC), on Sunday, described January 1, 2022 fire outbreak at the Port Harcourt Refining Company (PHRC) as minor.  According to NNPC, the fire, caused by a spark while a 33,000-litre truck was discharging naphth...
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Oil Heads For Biggest Yearly Gains In 12 Years
December 31, 2021 No Responses

Oil Heads For Biggest Yearly Gains In 12 Years

Prices of oil fell one per cent on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record...
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Court Blocks Shell’s Oil Exploration
December 29, 2021 No Responses

Court Blocks Shell’s Oil Exploration

A South African court has halted oil giant Shell’s seismic testing for oil and gas along the country’s eastern coastline, pending a final ruling.  The decision has been hailed by environmentalists who fear that the sound blasting will harm mar...
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FEC Approves $1.9b To Boost Power Supply To 7,000 Megawatts
December 16, 2021 No Responses

FEC Approves $1.9b To Boost Power Supply To 7,000 Megawatts

The Federal Executive Council (FEC) has approved $1.9 billion for the procurement of equipment for the nation’s power sector as part of measures to boost power supply across the country, through the Presidential Power Initiative. Briefing Jour...
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NLNG Awards Eleven Overseas Postgraduate Scholarships
December 15, 2021 No Responses

NLNG Awards Eleven Overseas Postgraduate Scholarships

Nigeria LNG Limited (NLNG) on Tuesday in Port Harcourt, River State awarded postgraduate scholarships to eleven (11) Nigerians to pursue Masters’ degrees in leading universities in the United Kingdom (UK).  NLNG offers post-primary, undergraduate, and p...
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NNPC Records ₦141.96b Trading Surplus
December 13, 2021 No Responses

NNPC Records ₦141.96b Trading Surplus

The Nigerian National Petroleum Company (NNPC) Limited has announced a trading surplus of ₦141.96 billion recorded in June 2021, compared to a deficit of ₦37.46 billion in May 2021.  A statement issued on Sunday by Garba Muhammad, Group General Manage...
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Sylva At Global Energy Forum, Insists PIA Will Enhance Energy Growth In Nigeria
December 10, 2021 No Responses

Sylva At Global Energy Forum, Insists PIA Will Enhance Energy Growth In Nigeria

Minister of State, Petroleum, Chief Timipre Sylva has declared that the Petroleum Industry Act (PIA} will enhance energy growth and sustainability in Nigeria.  Speaking as a participant at a ministerial roundtable, at the World Petroleum Congress (WPC), i...
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OPEC To Sustain Supply Adjustments For Oil Market
December 6, 2021 No Responses

OPEC To Sustain Supply Adjustments For Oil Market

The Organization of the Petroleum Exporting Countries (OPEC) will continue with its supply adjustments for the oil market, Secretary-General, Mohammad Barkindo, declared at the weekend.“We will continue to do what we know best to ensure we attain stab...
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Shell Closes Prelude Floating LNG
December 4, 2021 No Responses

Shell Closes Prelude Floating LNG

Shell has shut down its Prelude Floating Liquefied Natural Gas (FLNG) facility offshore Western Australia due to a fire incident.  Shell operates the Prelude FLNG, located at Browse Basin, 475 kilometres from Broome in Western Australia.  S...
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Oil Rises Ahead Of OPEC Meeting
December 2, 2021 No Responses

Oil Rises Ahead Of OPEC Meeting

Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant.U.S. West Texas Intermediate (WTI) crude...
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