Oil and Gas Archives — Page 4 of 19

October 26, 2023 No Responses

NCDMB Boss Warns Against Tinkering With Petroleum Industry Act

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has advised that making unending changes to the structures set up by Petroleum Industry Act 2021 could kill the confidence of investors and stall...

October 10, 2023 No Responses

NLNG Advocates For Urgent Action To Secure Gains From Gas

Nigeria must be deliberate in its desire to take opportunities offered by the energy transition, the recognition of gas as a transition fuel and the quest for clean energy to increase its gas investment and harvest the gains from gas,...

September 19, 2023 No Responses

Oil Prices Rise On Supply Deficit Concerns

Oil prices rose on Tuesday for the fourth consecutive session, as weak shale output in the U.S. spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia. Reuters report that U.S. West Texas...

July 16, 2023 No Responses

LNG: Shell, Morocco Seal 12-Year Deal

The management of Shell has signed a 12-year arrangement to supply Morocco with 0.5 billion cubic meters (bcm) of liquefied natural gas (LNG) per year. A statement from the Energy Ministry explained that the agreement was signed by the National...

July 3, 2023 No Responses

Shell Still Trading Russian Gas

Shell is still trading Russian gas more than a year after pledging to withdraw from the Russian energy market. BBC report that the company was involved in nearly an eighth of Russia’s shipborne gas exports in 2022, according to analysis...

July 1, 2023 No Responses

Iheanacho To Indigenous Shipowners: Maximize Opportunities In Oil, Gas Industry

It would be most beneficial for Nigerian shipowners operating in the sub-sector to concentrate on the tanker trade than operating liner services, the Chairman of Integrated Oil and Gas Company, Captain Emmanuel Iheanacho, has said. Iheanacho said this in Lagos...

June 22, 2023 No Responses

ExxonMobil, EverGreen Line Complete Marine Biofuel Deal

Evergreen Line’s vessel Ever Ulysses has received ExxonMobil’s marine biofuel oil blend via a ship-to-ship transfer in Singapore waters before heading to the discharge port. According to ExxonMobil, the commercial marine biofuel oil bunkering was completed...

June 5, 2023 No Responses

Oil Prices Rise As Saudi Arabia Pledges Output Cuts

The prices of oil rallied at the start of trading on Monday morning after Saudi Arabia pledged more output cuts and the 23-member Opec+ alliance extended its production agreement into 2024. Brent, the benchmark for two thirds of the world’s oil,...

May 28, 2023 No Responses

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...

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...

May 8, 2023 No Responses

Edo Refinery Places Order For 200,000 Barrels Of Crude

Edo Refinery and Petrochemicals Company Limited (ERPC), has placed order for 200,000 barrels of crude from Oza Oil Field operated by Decklar Resources and Millenium Oil and Gas Company. Edo Refinery was established with the injection of N700 mi...

April 30, 2023 No Responses

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, ...

April 28, 2023 No Responses

NNPCL, Norwegian Firm Seal Floating LNG Plant MoU

Nigerian National Petroleum Corporation Limited (NNPCL) has signed a memorandum of understanding (MoU) with Norwegian Golar LNG, an owner and operator of marine LNG infrastructure, to build a floating LNG plant in Nigeria. The MoU was revealed in NNPC’s soci...

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)...