Oil and Gas Archives — Page 4 of 18

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)...

March 31, 2023 No Responses

Edo Refinery Targets $125m Per Annum From Export

The Edo Refinery and Petrochemical Company (ERPC) Limited, operators of the 6000bpd Modular Refinery in Ologbo, Ikpoba Okha Local Government Area, is making about $125m per annum from the export of naphtha, one of the products from its plant. The...

March 16, 2023 No Responses

Shell Lifts Force Majeure On Bonny Light Crude Exports

The Shell Petroleum Development Company of Nigeria Ltd., (SPDC), operator of the SPDC joint venture, has lifted the force majeure on Bonny export programme with effect from March 15, 2023. Mrs Bola Essien-Nelson, the Media Relations Manager of SPDC, confirmed....

March 13, 2023 No Responses

Edo Refinery Orders 150,000 Barrels Of Crude

The Edo Refinery has placed an order for the supply of 150,000 barrels of crude from Decklar Resources Inc and Millennium Oil and Gas Company. The refinery was developed by the Edo Refinery and Petrochemical Company Limited (ERPC) wit...

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,...

March 5, 2023 No Responses

MOMAN Tasks Downstream Operators On Automation

The Major Oil Marketers Association of Nigeria (MOMAN) on Saturday urged operators in the Nigerian downstream sector to ensure automation of their services. According to the body, their services being automated will help them on data generation, improve produc...