Energy News Archives — Page 2 of 5

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 that the milestone came three months...

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. ...

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...

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...

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....

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...

December 23, 2022 No Responses

NLNG Company Secretary Emerges Nigerian Gas Association President

Aka Nwokedi, General Counsel/ Company Secretary of Nigeria LNG Limited (NLNG) and former Managing Director of NLNG Ship Management Limited (NSML), has emerged as President-Elect of the Nigerian Gas Association (NGA), leading the Executive Council to pilot and ...

November 7, 2022 No Responses

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...

October 23, 2022 No Responses

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...

August 31, 2022 No Responses

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...

August 16, 2022 No Responses

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 ...

August 15, 2022 No Responses

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...

July 2, 2022 No Responses

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...

May 11, 2022 No Responses

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...