Energy – Page 54 – City Business News

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 message to Al Ghais, who is currently...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

November 29, 2021 No Responses

Shell Implores Nigeria On Two-Pronged Energy Transition Strategy

The Country Chair of Shell Companies in Nigeria, Mr. Osagie Okunbor, has advised that Nigeria should adopt a two-pronged strategy for its energy transition programme in response to global call to reduce exploitation of fossil fuels and production of ...

November 26, 2021 No Responses

Oil Dips, Awaits OPEC+ Response To U.S.-Led Oil Release

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas...

November 24, 2021 No Responses

US To Release Oil Reserves

The US has said it is releasing 50 million barrels of oil from its reserves in an attempt to bring down soaring energy and petrol prices. The move is being taken in parallel with other major oil-consuming nations, including China,...

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Category: Energy