Category: Energy

Minister: NIES Outcomes Have Yielded Critical Development 
February 27, 2022 No Responses

Minister: NIES Outcomes Have Yielded Critical Development 

The Federal Government says outcomes from the past edition of the Nigerian International Energy Summit (NIES) have been embraced and utilised by the government, policymakers and oil and gas industry to effect development.  Chief Timipre Sylva, Minister of State Petroleum...
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NLNG Appoints Ogunleye Deputy Managing Director
February 24, 2022 No Responses

NLNG Appoints Ogunleye Deputy Managing Director

By Moses Ebosele, ebosele@hotmail.com   — The Board of Directors,  Nigeria LNG (NLNG) has approved the appointment of Mr Olalekan Ogunleye as Deputy Managing Director of the company. A statement issued on Wednesday by Mr Andy Odeh, General M...
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Oil Prices Surge As Ukraine-Russia Tension Climb 
February 23, 2022 No Responses

Oil Prices Surge As Ukraine-Russia Tension Climb 

Oil and gas prices climbed on Tuesday on fears the Ukraine-Russia crisis will disrupt supplies across the world.  The price of Brent crude oil, an international benchmark, touched a seven-year high of more than $99 (£73) a barrel after President Vla...
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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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