Oil Prices Dip Amid Weak Chinese Demand

Oil Prices Dip Amid Weak Chinese Demand

Oil prices dipped in early trade on Thursday for the third straight session after data showed an unexpected, large build in U.S. crude stocks, triggering fears of an oversupply amid signs of weaker Chinese demand. Reuters report that Brent crude...
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ExxonMobil, Hapag-Lloyd Seal Biofuel Supply Deal 

ExxonMobil, Hapag-Lloyd Seal Biofuel Supply Deal 

ExxonMobil has signed an agreement to supply German liner major Hapag-Lloyd with B30 marine biofuel oil in the Amsterdam-Rotterdam-Antwerp (ARA) region. Biofuel is an important part of Hapag-Lloyd’s sustainability journey as biofuel blends can give a meaning...
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Shell Unveils $56.13m For Host Communities

Shell Unveils $56.13m For Host Communities

The Shell Petroleum Development Company, operator of the SPDC joint venture has unveiled eight Host Community Development Trusts in Bayelsa State, a critical step for unlocking the $56million earmarked for development in line with the provisions of the Petrole...
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BUHARI: DANGOTE REFINERY, GAME CHANGER FOR NIGERIA’S ECONOMY

BUHARI: DANGOTE REFINERY, GAME CHANGER FOR NIGERIA’S ECONOMY

President Muhammadu Buhari Monday inaugurated Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, which is expected to enable Nigeria to achieve self-sufficiency in refined products and even have surplus for export.Speaking at the occasion attended by Heads of S...
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Dangote Refinery Comes Alive

Dangote Refinery Comes Alive

President Muhammadu Buhari will today, May 22, 2023 commission Dangote Petroleum Refinery & Petrochemicals, regarded as the world’s largest single train refinery in Ibeju-Lekki, Lagos, alongside his counterparts from Ghana, Togo, Senegal, Niger, and Chad...
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CSOs Seek End To Fossil Fuel Exploration

CSOs Seek End To Fossil Fuel Exploration

The 10th East African Petroleum Conference and Exhibition 2023, which came to a close in Kampala on Friday, has drawn criticism from Civil Society Organizations (CSOs) in the region.  In a May 10, 2023 letter sent to the Heads of State of...
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Eni Seeks More LNG Cargoes from Nigeria, Egypt, Qatar, Others

Eni Seeks More LNG Cargoes from Nigeria, Egypt, Qatar, Others

As part of measures to guarantee gas supplies to its customers through a more diversified portfolio, Italy’s oil and gas company, Eni has increased the number of LNG cargoes from Nigeria, Egypt, Congo, Qatar, Angola, Indonesia, and Mozambique. Meanwhile, Eni...
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Shell Declares $10b Profit In Q1

Shell Declares $10b Profit In Q1

Shell on Thursday posted a first-quarter (Q1) net profit of $9.65 billion as strong earnings from trading and higher Liquefied Natural Gas (LNG) sales offset cooling energy prices, while extending its large share repurchase programme.  The stronger-than-e...
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ExxonMobil Declares $11.4b Profit In Q1

ExxonMobil Declares $11.4b Profit In Q1

For the first three months of this year (2023), ExxonMobil’s profits more than doubled, helped by the increased demand for oil and gas. The US energy firm said cost-cutting measures also contributed to its record $11.4bn (£9.1bn) first-quarter profits, ...
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Shipping Firm Receives World’s Largest Liquefied Gas Carrier

Shipping Firm Receives World’s Largest Liquefied Gas Carrier

Jiangnan Shipbuilding, a subsidiary of China State Shipbuilding Corporation, has delivered the world’s largest Very Large Liquefied Gas Carrier (VLGC) to Singapore-based shipping and trading company Petredec. According to World Maritime News, this marks a si...
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Oil Palm, Poultry, Energy Most Active Sectors In Edo

Oil Palm, Poultry, Energy Most Active Sectors In Edo

The Edo State Investment Promotion Office has said the most active sectors that have attracted local and foreign investments into the state in the last two years are oil palm, poultry processing, retail sectors and Energy. In a chat with Journalists,...
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NLNG Bags Local Content, Train 7 Awards 

NLNG Bags Local Content, Train 7 Awards 

Nigeria LNG Limited (NLNG) has won the “Local Content Company of the Year 2022” award at the ongoing 2023 Nigeria International Energy Summit (NIES) in Abuja.  At an award and dinner ceremony at the State House, Abuja on Monday, NLNG...
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Expert Implores FG On Robust Gas Asset Management Plan

Expert Implores FG On Robust Gas Asset Management Plan

The Chief Executive Officer, Kenyon International, Dr Victor Ekpenyong has urged the Federal Government to harness the abundant oil and gas resources for economic and industrial development.  Ekpenyong, a Well Controls Specialist, said that harnessin...
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FG Approves Amendment Of 2022/2023 Deep Offshore Oil Block Bid Round

FG Approves Amendment Of 2022/2023 Deep Offshore Oil Block Bid Round

President Muhammadu Buhari has approved the amendment of the 2022/2023 Deep Offshore oil block mini-bid process to accommodate concerns raised by potential local and international investors. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) explain...
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