Energy News Archives — Page 4 of 5

February 23, 2022 No Responses

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...

February 5, 2022 No Responses

ExxonMobil Eyes More Long-Term Gas Supply Deals With India

Global energy major ExxonMobil is looking at signing more long-term gas sales deals with India as rising spot prices have added to the appeal of longer duration contracts.“We’re certainly happy to work with our friends and partners in India to ...

February 5, 2022 No Responses

Nigeria’s Fuel Subsidies Back Under The Spotlight

By LukmanOtunuga, Senior Research Analyst At FXTM — The explosive surge in oil prices over the past few months has been good news to energy producing countries including Nigeria. It is worth keeping in mind that Africa’s largest economy acquires...

February 4, 2022 No Responses

2021:Shell Declares $20.1b Net Profit

Shell surged back into profit last year as oil prices rocketed on recovering demand with economies reopening from pandemic lockdowns. Net profit stood at US$20.1 billion following a loss after tax of US$21.7 billion in 2020, Shell said in a...

January 26, 2022 No Responses

Deregulation: FG Introduces Infrastructure Fund For Auto Gas Transition

The Federal Government says it will take into consideration infrastructure fund for the midstream and downstream sector targeted at developing gas infrastructure to actualise Auto Gas Transition. Chief Timipre Sylva, Minister of State for Petroleum Resou...

January 19, 2022 No Responses

Oil Prices Hit Seven-Year High

The price of oil hit its highest level in more than seven years on Tuesday as traders worried that an attack on a fuel storage facility in the Middle East could affect supply. A suspected drone attack by Yemeni Houthi...

January 13, 2022 No Responses

NLNG Debunks Train 7 Project Vacancies

The Nigerian Liquefied Natural Gas (NLNG) has debunked an online advertisement announcing vacancies for its Train 7 Project positions. A statement issued on Wednesday by General Manager, External Relations and Sustainable Development; Andy Ode...

December 31, 2021 No Responses

Oil Heads For Biggest Yearly Gains In 12 Years

Prices of oil fell one per cent on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the COVID-19 slump and producer restraint, even as infections surged to record...

December 29, 2021 No Responses

Court Blocks Shell’s Oil Exploration

A South African court has halted oil giant Shell’s seismic testing for oil and gas along the country’s eastern coastline, pending a final ruling. The decision has been hailed by environmentalists who fear that the sound blasting will harm mar...

December 10, 2021 No Responses

Sylva At Global Energy Forum, Insists PIA Will Enhance Energy Growth In Nigeria

Minister of State, Petroleum, Chief Timipre Sylva has declared that the Petroleum Industry Act (PIA} will enhance energy growth and sustainability in Nigeria. Speaking as a participant at a ministerial roundtable, at the World Petroleum Congress (WPC), i...

December 4, 2021 No Responses

Shell Closes Prelude Floating LNG

Shell has shut down its Prelude Floating Liquefied Natural Gas (FLNG) facility offshore Western Australia due to a fire incident. Shell operates the Prelude FLNG, located at Browse Basin, 475 kilometres from Broome in Western Australia. S...

December 2, 2021 No Responses

Oil Rises Ahead Of OPEC Meeting

Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant.U.S. West Texas Intermediate (WTI) crude...

November 19, 2021 No Responses

Crude Oil Hovers Above Six-Week Low

Oil prices rose slightly on Thursday after dropping to six-week lows as investors wondered about how much crude major economies would release from their strategic reserves and how much that would ease global crude demand pressures. Prices fell to six-week...

November 6, 2021 No Responses

Shell Restarts Production At Offshore Gulf Of Mexico

Shell said on Friday it had restarted production at its offshore Mars and Ursa in the Gulf of Mexico and began exporting oil and gas through a transfer facility, which was shut due to damage from Hurricane Ida. The oil...