Oil Business Archives — Page 3 of 5

September 7, 2021 No Responses

Crude Oil Extends Losses

Oil prices extended losses on Monday, falling more than 1%, after the world’s top exporter Saudi Arabia slashed crude prices for Asia over the weekend, signalling demand concerns and that global markets are well supplied.Brent crude futures for November fell 90 cents, or 1.2%,...

September 5, 2021 No Responses

Shell, Firm To Build Largest LNG Bunker Barge

Florida-based marine solutions, transportation and logistics company, Crowley Maritime Corporation has signed a long-term time charter with Shell NA LNG for the building and operation of a new LNG bunker barge. Under the arrangement, the 126.7-meter-long...

August 26, 2021 No Responses

Shell, Rights Group Disagree On Remediation Of Ikarama Spill Site

Shell Petroleum Development Company (SPDC) and an Environmental Rights group, have disagreed on remediation of spilled sites at Ikarama community in Bayelsa State. While the rights group, Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN...

August 24, 2021 No Responses

Oil Rises As Full U.S. Clearance For COVID-19 Vaccine Stokes Demand

Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand will follow a potential step up in U.S. coronavirus vacc...

August 18, 2021 No Responses

NNPC Reiterates Support For NLNG

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has reiterated the Corporation’s commitment to supporting the Nigeria LiquefiedNatural Gas (NLNG) Limited towards achieving its goal of becoming a global LN...

August 14, 2021 No Responses

Oil Extends Losses As Covid-19 Slows Demand

Oil prices fell for a second day on Friday after the International Energy Agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions.Reute...

August 12, 2021 No Responses

Shell To Pay $111m Compensation To Nigerian Community

Royal Dutch Shell has agreed to pay the Nigerian community $111m (£80m) over an oil spill more than 50 years ago. A spokesman said the payment would mark the “full and final settlement” to the Ejama-Ebubu community over a spill...

August 6, 2021 No Responses

Okowa Seeks Proper Monitoring Of Crude Oil Production

Governor of Delta State, Ifeanyi Okowa has called for proper monitoring of Nigeria’s crude oil production to ascertain the volume and ensure transparency and accountability in the oil and gas sector. Okowa made the call at the opening of a...

July 19, 2021 No Responses

Oando Enters Into Settlement With SEC

Oando Plc has entered into a settlement with the Securities and Exchange Commission in the overriding interest of the shareholders of the Company and the capital market. This was contained in a Circular released by the SEC in Abuja Monday and...

July 19, 2021 No Responses

Oil Producing Nations Seal Deal To Control Prices

Oil producing nations have agreed to increase their output, with the aim of reducing prices and easing pressure on the world economy. Under the arrangement, the Opec cartel and partners such as Russia will boost supply from August after prices...

July 15, 2021 No Responses

Shell Seals New NLNG Charter Agreements

Shell Tankers (Singapore) has inked new charter agreements with Knutsen LNG, Pan Ocean and investors advised by J.P. Morgan Asset Management for six Liquified Natural Gas (LNG) ships, bringing its LNG carrier fleet to a total of 24 vessels. Sla...

July 10, 2021 No Responses

NLNG Appoints Philip Mshelbila New CEO

The Board of Directors, Nigeria LNG Limited (NLNG) has approved the appointment of Dr. Philip Mshelbila as successor to Engr. Tony Attah, Managing Director and Chief Executive Officer. A statement issued by General Manager,External Relations and Su...

July 7, 2021 No Responses

Crude Oil Rises Further

Oil prices rose slightly on Tuesday after the previous day’s rally, supported by expectations of a tighter market as output talks of OPEC+ nations were called off, but concerns that members may start to increase production capped gains.According to ...

July 1, 2021 No Responses

Oil Rises As Stockpiles Fall

Oil prices on Wednesday extended the previous day’s small gains after an industry report showed U.S. crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as COVID-19 cases surge.Brent crud...