Category: Energy

Oil Subsidy Gulps N8.9trillion In 10 Years
September 22, 2020 No Responses

Oil Subsidy Gulps N8.9trillion In 10 Years

Between 2006 and 2015, the Federal Government of Nigeria spent a total of N8.94 trillion on oil subsidy, the Petroleum Products Pricing Regulatory Agency (PPPRA) has said.  A document on subsidy issued by PPPRA on Monday explained that the subsidy...
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Shell Unveils Major Cost-Cutting Drive
September 22, 2020 No Responses

Shell Unveils Major Cost-Cutting Drive

Royal Dutch Shell is looking to slash up to 40 per cent off the cost of producing oil and gas in a major drive to save cash so it can overhaul its business and focus more on renewable energy and power...
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Oil Refineries Struggle With Weak Demand Worldwide
September 21, 2020 No Responses

Oil Refineries Struggle With Weak Demand Worldwide

Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery work...
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NNPC Shortlists 78 Firms For Pipelines Rehabilitation
September 19, 2020 No Responses

NNPC Shortlists 78 Firms For Pipelines Rehabilitation

The Nigerian National Petroleum Corporation (NNPC) has shortlisted 78 companies to bid for the rehabilitation of oil pipelines and deport infrastructure across the country. The News Agency of Nigeria (NAN) recalls that over 300 companies applied thro...
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Shell Tasks Energy Stakeholders On Local Content
September 17, 2020 No Responses

Shell Tasks Energy Stakeholders On Local Content

The Managing Director, Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Mr Bayo Ojulari, has challenged indigenous players in the energy sector to collaborate as part of measures to increase local content. Ojulari said this while speaking at the ...
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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&#...
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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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