Category: Energy

Court Orders Mobil, NNPC To Pay N82b To Akwa Ibom Communities
June 22, 2021 No Responses

Court Orders Mobil, NNPC To Pay N82b To Akwa Ibom Communities

The Federal High Court, Abuja, has ordered Mobil Producing Nigeria Unlimited and the Nigerian National Petroleum Corporation (NNPC) to pay the oil communities in Ibeno Local Government Area of Akwa Ibom State a cumulative damages of N81.9 billion over oil spillage.   Justice...
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Buhari Flags Off Construction Of NLNG’s Train 7 Project
June 16, 2021 No Responses

Buhari Flags Off Construction Of NLNG’s Train 7 Project

By citybusinessnews@yahoo.com — The President of the Federal Republic of Nigeria, Muhammadu Buhari, GCFR, today flagged off the construction of Nigeria LNG Limited’s (NLNG) Train 7 project during the groundbreaking ceremony at the Company’...
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Oil Prices Climb As Demand Outlook Improves
June 15, 2021 No Responses

Oil Prices Climb As Demand Outlook Improves

Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply.Brent crude was up 51 cents, or...
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Petrobras Orders $2.3b FPSO
June 12, 2021 No Responses

Petrobras Orders $2.3b FPSO

Brazilian oil and gas major Petrobras has signed a contract with a joint venture formed by Saipem and DSME in the amount of $2.3 billion for the supply of P-79, the eighth unit to be installed in Búzios field, in...
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FG Signs Brass Petroleum Products Terminal Agreement
June 12, 2021 No Responses

FG Signs Brass Petroleum Products Terminal Agreement

The Federal government has signed shareholders agreement on construction of Brass Petroleum products Terminal Limited ( BPPT) to help curb illegal refining and stabilise products pricing in the Niger Delta region.   Chief Timipre Sylva, Minister of s...
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Total Energies Targets 50% Gas Energy Mix
June 11, 2021 No Responses

Total Energies Targets 50% Gas Energy Mix

Executive Director Commercial and Strategy, TotalEnergies, Mr George Oguachuba,  says the company targets 50 per cent gas energy mix by 2030.  Oguachuba made this known at a panel discussion at the 4th Nigeria International Petroleum Summit in A...
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Seplat CEO Implores Nigeria On Critical Role Of Technology In Oil Market Competitiveness
June 10, 2021 No Responses

Seplat CEO Implores Nigeria On Critical Role Of Technology In Oil Market Competitiveness

By citybusinessnews@yahoo.com — Technology will play a key role in ensuring Nigeria stays cost competitive in today’s oil market, Mr. Roger Brown, Chief Executive Officer of Seplat Plc, has said.  The Seplat CEO said this in his keynote address t...
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NLNG, Three Firms Seal Domestic Supply Sales And Purchase Agreements
June 10, 2021 No Responses

NLNG, Three Firms Seal Domestic Supply Sales And Purchase Agreements

By citybusinessnews@yahoo.com — Nigeria LNG Limited (NLNG) has signed 10-year LNG Sales and Purchase Agreements (SPAs) with three offtakers for the domestic supply of Liquified Natural Gas (LNG) in the country. Under the arrangement, the Company will su...
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Timipre Sylva: Nigeria Has Achieved 35% Local Content Compliance
June 4, 2021 No Responses

Timipre Sylva: Nigeria Has Achieved 35% Local Content Compliance

The Minister of State for Petroleum Resources Chief Timipre Sylva has said that Nigeria has achieved a significant 35% local content compliance in 2021 from a dismal 5% in 2010.Speaking at the maiden edition of the African Local Content Roundtable(ALCR),...
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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 ...
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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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