Category: Energy

Total Secures $3.5b Oil Pipeline Deal
September 14, 2020 No Responses

Total Secures $3.5b Oil Pipeline Deal

French oil giant, Total on Sunday sealed $3.5billion oil pipeline deal with the Governments of  Tanzania and Uganda.   The deals entails the construction of a 1,445 km (898 miles) crude oil pipeline.   The plans along with China’s CNOOC, and the governments...
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Oil Extends Losses As Stockpile Rise Amid Weakening Demand
September 12, 2020 No Responses

Oil Extends Losses As Stockpile Rise Amid Weakening Demand

Oil prices fell for a second day on Friday, pressured by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand for fuels.Brent crude was down 18 cents, or 0.5%, at $39.88 a barrel by 0337 GMT, after fallin...
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Oil Prices Slip
September 10, 2020 No Responses

Oil Prices Slip

Oil futures fell in early trade on Thursday, paring overnight gains, on worries about fuel demand after data showed U.S. crude stockpiles rose last week, rather than dropping as expected, and COVID-19 cases continued to rise aroun...
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Crude Affreightment: NIMASA Revives Move to Change Terms of Trade
September 7, 2020 No Responses

Crude Affreightment: NIMASA Revives Move to Change Terms of Trade

The Nigerian Maritime Administration and Safety Agency (NIMASA) has revived efforts to change the Terms of Trade for the affreightment of Nigerian crude oil from Free on Board (FOB) to Cost Insurance and Freight (CIF).  Director-General of NIMASA, Dr. Bas...
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DPR Generates N673.7b Revenue In Six Months
September 2, 2020 No Responses

DPR Generates N673.7b Revenue In Six Months

The Department of Petroleum Resources (DPR) has generated a total sum of N673.7 billion in the first half of this year.   Its Spokesman, Paul Osu, explained in a statement that the Director of DPR, Mr Auwalu Sarki, disclosed this...
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Arunma Oteh, Rolet, Join SEPLAT’s Board
August 28, 2020 No Responses

Arunma Oteh, Rolet, Join SEPLAT’s Board

The Board of Directors of Seplat Petroleum Development Company Plc has announced the appointment of Ms. Arunma Oteh, OON and Mr. Xavier Rolet KBE as Independent Non-Executive Directors of the Company with effect from October 1, 2020.   Ms. Arunm...
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NLNG, LCCI Promote Solutions In Carbon Reduction, Bioenergy
August 26, 2020 No Responses

NLNG, LCCI Promote Solutions In Carbon Reduction, Bioenergy

Nigeria LNG Limited (NLNG), in partnership with the Lagos Chamber of Commerce and Industry (LCCI), recently, presented the winning work of The Nigeria Prize for Science 2019, to industry players as part of measures to help reduce the country’s carbon...
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NLC Condemns Sack Of 175 Chevron Workers
August 24, 2020 No Responses

NLC Condemns Sack Of 175 Chevron Workers

The Nigeria Labour Congress (NLC) has expressed “great concerns” over the sack of 175 staff of Chevron Nigeria Limited.    In a statement issued on Monday, President of NLC, Ayuba Wabba said: “It is even more heart rending that these...
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Nigeria Earns $378.42m From Crude Oil, Gas Export
August 24, 2020 No Responses

Nigeria Earns $378.42m From Crude Oil, Gas Export

The Nigerian National Petroleum Corporation (NNPC) has announced a total crude oil and gas export earnings of $378.42 million in June, as against $133.16 million it posted in May 2020.  The corporation disclosed this in its June Monthly Financial and...
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Sterling Bank Develops Energy Solution For Homes, Businesses
August 24, 2020 No Responses

Sterling Bank Develops Energy Solution For Homes, Businesses

Sterling Alternative Finance (SAF), the non-interest banking division of Sterling Bank Plc, has developed a clean and affordable energy solution for homes and businesses across the country.  Head of Digital Business, SAF, Mohammed Yinusa in a statement on Sun...
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Saudi Arabia Suspends $10b Oil Refinery Project
August 22, 2020 No Responses

Saudi Arabia Suspends $10b Oil Refinery Project

Aramco, Saudi Arabia’s state oil company has suspended a deal to build a $10 billion refining and petrochemicals complex in China as the company slashes spending to cope with low oil prices.Aramco  decided to stop investing in the facility in China’s No...
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Senate Queries DPR Over N44.5b Remittance, N2.4trillion Revenue
August 21, 2020 No Responses

Senate Queries DPR Over N44.5b Remittance, N2.4trillion Revenue

Representatives of Department of Petroleum Resources (DPR) were queried by the Senate on Friday for remitting only N44. 5 billion into the Consolidated Revenue Fund in 2019 out of N2.4 trillion generated.   This is as heads of many of...
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NPDC Targets 600mmscf/d Of Gas Supply To Domestic Market
August 21, 2020 No Responses

NPDC Targets 600mmscf/d Of Gas Supply To Domestic Market

The Nigerian Petroleum Development Company (NPDC), an Exploration and Production subsidiary of the Nigerian National Petroleum Corporation (NNPC), is looking at boosting its gas supply to the domestic market by 600million standard cubic feet per day (mmscf/d) ...
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Total Resumes Oil Drilling In Angola
August 19, 2020 No Responses

Total Resumes Oil Drilling In Angola

France’s Total has restarted oil drilling in Angola and new exploration ships will also soon resume work, the company’s country chair Olivier Jouny told trade publication Africa Oil & Power on Monday.All drilling activity ground to a halt i...
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