Tag: Energy News

OPEC Mulls Cut In Oil Production  
June 4, 2023 No Responses

OPEC Mulls Cut In Oil Production  

The Organization of Petroleum Exporting Countries (OPEC) and its allies began two days of meetings on Saturday that may culminate in further production cuts of as much as 1 million barrels per day.  Reuters reports that the group faces flagging...
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Shell, GasLog, Seal LNG Charter Deals
May 14, 2023 No Responses

Shell, GasLog, Seal LNG Charter Deals

GasLog, International owner and operator of liquefied natural gas (LNG) carriers has entered into new time charter agreements for two of its LNG carriers. One of the time charter agreements involves GasLog Singapore LNG carrier and it was signed with New....
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Oil Falls On Weak US, Chinese Data
May 12, 2023 No Responses

Oil Falls On Weak US, Chinese Data

Oil prices fell about two per cent to a one-week low on Thursday as a political standoff over the U.S. debt ceiling stoked recession jitters in the world’s biggest oil consumer, while rising U.S. jobless claims and weak Chinese economic...
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OPEC Predicts 2m Barrels Per Day Shortfall By Year End
April 14, 2023 No Responses

OPEC Predicts 2m Barrels Per Day Shortfall By Year End

The oil market is heading for a significant shortfall of around two million barrels per day at the end of the year as a result of a production cut by major producers. The Organisation of the Petroleum Exporting Countries (OPEC)...
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NLNG Joins U.N. Group To Reduce Methane Emissions, Pursues Decarbonisation
March 23, 2023 No Responses

NLNG Joins U.N. Group To Reduce Methane Emissions, Pursues Decarbonisation

Nigeria LNG Limited (NLNG) has joined the Oil and Gas Methane Partnership (OGMP 2.0), a partnership coordinated by the United Nations Environment Programme (UNEP) to reduce methane emissions and improve the accuracy and transparency of methane emissions report...
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OPEC Raises Chinese Oil Demand Growth Forecast
March 15, 2023 No Responses

OPEC Raises Chinese Oil Demand Growth Forecast

The Organization of Petroleum Exporting Countries (OPEC) on Tuesday further raised its forecast for Chinese oil demand growth in 2023 due to the relaxation of the country’s COVID-19 curbs, although it left the global total steady, citing potential downside r...
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<strong>NNPC Replaces Eroton As Operator Of OML 18</strong>
March 7, 2023 No Responses

NNPC Replaces Eroton As Operator Of OML 18

The management of Nigerian National Petroleum Company (NNPC) Limited has replaced Eroton Exploration and Production Limited as the new operator of oil mining lease (OML) 18. The Chief Corporate Communications Officer, NNPC Ltd, Mr Garbadeen Muhammad,...
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Sylva: Theft, Pipeline Vandalism Responsible For Crude Losses
February 21, 2023 No Responses

Sylva: Theft, Pipeline Vandalism Responsible For Crude Losses

The Minister of State Petroleum Resources, Chief Timipre Sylva has attributed loss of revenue from crude production to theft, pipeline vandalism and decayed infrastructure.  The minister, in a statement on Monday by his Senior Adviser, Media and Communica...
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SNEPCo’s Bonga FPSO Hits 1b Barrel Milestone
February 14, 2023 No Responses

SNEPCo’s Bonga FPSO Hits 1b Barrel Milestone

Nigeria’s first deep-water exploration and production vessel, Bonga, hit a one-billion-barrel oil export mark on Monday.  The Managing Director, Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Mrs Elohor Aiboni, explained in a statement t...
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Oil Falls On Demand Concerns 
February 13, 2023 No Responses

Oil Falls On Demand Concerns 

Oil prices eased on Monday morning after rising 2% in the previous session as investors shrugged off the impact of Russian output cuts, instead focusing on short-term demand concerns stemming from refinery maintenance in Asia and the United States.  ...
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NNPCL Begins Direct Supply Of Petrol To IPMAN 
February 8, 2023 No Responses

NNPCL Begins Direct Supply Of Petrol To IPMAN 

The Independent Petroleum Marketers Association of Nigeria (IPMAN) on Tuesday disclosed that the management of the Nigerian National Petroleum Company Ltd. (NNPCL) has allocated petrol to its members directly to ease scarcity.  Mr Chinedu Okoronkwo, the N...
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NNPC Takes Over Addax Petroleum’s PSC Assets 
February 1, 2023 No Responses

NNPC Takes Over Addax Petroleum’s PSC Assets 

The Nigeria National Petroleum Company Limited (NNPCL)has taken over the operation of Production Sharing Contract (PSC) assets from Addax Petroleum Development Nigeria Limited.  The NNPCL Chief Corporate Communications Officer, Garba Deen Muhammad, explai...
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NLNG: Bonny Plant Still In Operation
January 17, 2023 No Responses

NLNG: Bonny Plant Still In Operation

The Nigeria LNG plant on Bonny Island is still active despite a force majeure declared in October 2022 and feed gas supply challenges.  Mr Andy Odeh, the General Manager, External Relations and Sustainable Development, NLNG, confirmed this in a statement....
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Shell To Pay First UK tax In Five Years
January 7, 2023 No Responses

Shell To Pay First UK tax In Five Years

Shell has said it will pay tax in the UK for the first time since 2017 after making huge global profits last year.  The energy firm said it expected to “take a hit” of around $2bn (£1.7bn) on profits in...
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