Oil Falls As China Sticks To Strict COVID Policy

Oil Falls As China Sticks To Strict COVID Policy

Oil prices fell more than 2% at the start of Asia trade on Monday after Chinese officials at the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world’s top crude...
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Cooking Gas Marketers Caution Against Panic Buying

Cooking Gas Marketers Caution Against Panic Buying

The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has cautioned Nigerians against panic buying of Liquefied Petroleum Gas (LPG), cooking gas, as a result of the force majeure declared by Nigeria Liquefied Natural Gas Ltd. (NLNG). Its pres...
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Oil Slides More Than $7 On Inflation, Iraq Exports

Oil Slides More Than $7 On Inflation, Iraq Exports

Oil prices fell more than $7 a barrel on Tuesday, the steepest decline in about a month, on fears that an inflation-induced weakening of global economies would soften fuel demand and as unrest in Iraq has failed to put a dent...
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Oil Prices Tumble As China Economy Stutters 

Oil Prices Tumble As China Economy Stutters 

Oil prices slumped nearly five percent Monday on data showing China’s economic recovery stuttering under Covid-19 restrictions and a slumping property sector. Stock markets mostly steadied and the dollar traded mixed as investors welcome signs of cooling US ...
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Saudi Oil Giant Tops Own Record With $48.4b Profit 

Saudi Oil Giant Tops Own Record With $48.4b Profit 

Saudi oil giant Aramco has broken its own record with a $48.4bn (£39.8bn) profit for the second quarter of 2022.  It is a 90% year-on-year increase and marks the biggest earnings for the world’s largest energy exporter since its public...
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NCDMB Partners Shell, Exxon, NAOC On Oil & Gas Parks

NCDMB Partners Shell, Exxon, NAOC On Oil & Gas Parks

By Moses Ebosele, ebosele@hotmail.com — Major international operating oil and gas companies, notably Shell Petroleum Development Company (SPDC) and Exxon Mobil Nigeria, and the Nigerian Agip Oil Company (NAOC) have made significant investments in suppor...
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Oil Tumbles On Global Economic Worries

Oil Tumbles On Global Economic Worries

Oil prices tumbling more than 1% on Tuesday, extending the previous day’s steep declines as coronavirus lockdowns in top oil importer China, a strong dollar and growing recession risks fed worries about the outlook for global demand.  Reu...
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Forte Upstream Services Gets ISO 9001:2015 Certification

Forte Upstream Services Gets ISO 9001:2015 Certification

Forte Upstream Services Limited has received the ISO 9001:2015 certification for its quality management system. A statement explained that the certificate was presented by the Standard Organization of Nigeria (SON) to the company on Thursday, 28th April 2022 a...
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EU, US Seal Gas Deal

EU, US Seal Gas Deal

The United States (US)  and the European Union (EU) have announced a major deal on liquified natural gas, in an attempt to reduce Europe’s reliance on Russian energy.  BBC reports that the agreement will see the US provide the EU with...
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Manufacturers Seek FG’s Intervention As Diesel Hits N720 Per Litre  

Manufacturers Seek FG’s Intervention As Diesel Hits N720 Per Litre  

The Manufacturers Association of Nigeria (MAN), is seeking urgent intervention from the Federal Government to support the production of goods, as diesel price hits N720 per litre.  Mr Lanre Popoola, the Chairman, Manufacturers Association of Nigeria (MAN)...
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NLNG, NCDMB, SNEPCo, Chevron, TotalEnergies, Others Bag Awards At 2022 NIES

NLNG, NCDMB, SNEPCo, Chevron, TotalEnergies, Others Bag Awards At 2022 NIES

The Nigeria LNG Company Ltd. (NLNG) has won the 2021 Gas Infrastructure Project Company of the year award in the Nigeria oil and gas sector.  The award was conferred on the company at the gala night of the fifth Nigeria...
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BP To Offload Stake In Russian Oil Firm

BP To Offload Stake In Russian Oil Firm

BP is to offload its 19.75% stake in Russian state-owned oil firm Rosneft after Russia’s “act of aggression in Ukraine”. The oil giant had come under pressure from the UK government to make the move since Thursday’s invasion.  It h...
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Shell Reiterates Commitment To Lower CO2 Emissions In Nigeria

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 

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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