Oil and Gas Archives — Page 4 of 17

November 9, 2022 No Responses

Daewoo Secures $252m Contract For One LNG Carrier

South Korean shipbuilder, Daewoo Shipbuilding & Marine Engineering (DSME) has secures contract to build one liquefied natural gas (LNG) carrier. The contract, worth $252 million, was signed with an undisclosed shipowner from Oceania on 7 October, DSME said in a...

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 6, 2022 No Responses

NLNG Reacts To N18.4b Compensation Reports For Host Communities

The management of Nigeria LNG Limited (NLNG) is evaluating the reported Senate resolution which mandated the company to pay host communities N18.4b compensation within two months. A statement issued on Wednesday by NLNG General Manager, External Rela...

October 5, 2022 No Responses

LNG: TotalEnergies Targets Top Position, Tô Expand Bunker Services

French energy giant, TotalEnergies is ramping up investments in Liquefied Natural Gas (LNG) in a scenario that excludes Russia and is in a ‘very favourable’ position to benefit from the evolution of energy markets as a result of the energy transition....

September 1, 2022 No Responses

Shell Secures $ 1 billion LNG Deal

Shell has sealed ten-year marine Liquefied Natural Gas (LNG) sales and purchase agreement with Israeli container shipping company, ZIM valued at more than $1 billion. According to World Maritime News, the LNG is intended for ten LNG-...

August 25, 2022 No Responses

Oil Prices Rise On Possible OPEC Supply Cuts

Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery. Brent crude rose 59 cents, or 0.6%, to $101.81...

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...

August 13, 2022 No Responses

NLNG Launches GMoU Phase 2 In Rivers State

Nigeria LNG Limited (NLNG) on Thursday in Port Harcourt launched the second phase of the Global Memoranda of Understanding (GMoU) for its pipeline host communities to actively support community-driven sustainable development. A statement issued by Acting Man...

August 11, 2022 No Responses

Shareholders Reinforce Confidence In Oando Management

Shareholders of Oando Plc have reinforced confidence in the management of the company while urging the government to work with stakeholders to tackle the challenges facing the oil and gas industry. A statement posted on Oando’s website said the shareholder...

July 28, 2022 No Responses

Ministry Inaugurates Committee On Oil, Gas Investment Promotion

The Ministry of Petroleum Resources has inaugurated a committee on the Establishment of an Oil and Gas Investment Promotion Office to spur investment in the sector. Mr Kamoru Busari, Director overseeing the Office of the Permanent Secretary said that having...

July 26, 2022 No Responses

TotalEnergies Begins Production From 50,000bpd Ikike Field

TotalEnergies, OML99 operator (40 per cent), has announced the start of production from the Ikike field, in Nigeria. TotalEnergies made the announcement in a statement posted on its website and obtained by the News Agency of Nigeria (NAN) on Monday...

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...

June 23, 2022 No Responses

Senate Probes Shell, Seeks Refund Of $200m To FG

The Senate, on Wednesday at plenary constituted an Ad Hoc Committee to investigate Shell Petroleum Development Company (SPDC) over non-compliance with the Petroleum Act and violation of the Joint Venture Agreement entered with the Federal Government. The Ad...