Oil & Gas Archives — City Business News

May 6, 2022 No Responses

Seplat CEO : ANOH Project, Game Changer For Seplat, Oil, Gas Industry

The completion of Seplat Energy Plc Assa North-Ohaji South project (ANOH) in Imo State, will positively boost supply chain in the nation’s oil and gas industry, Chief Executive Officer(CEO), Seplat Energy Plc, Mr Roger Brown, has said Brown told ...

May 5, 2022 No Responses

OPEC Raises Nigeria’s Production Quota To 1.772mbpd For June

The Organisation of the Petroleum Exporting Countries (OPEC) has raised Nigeria’s oil production quota from the 1.735 million barrels per day (mbpd) target approved in May 2022 to a new target of 1.772mbpd for June 2022. A statement issued...

April 28, 2022 No Responses

Nigerian Content In Oil Sector Grows To 42%, Says Wabote, NCDMB Boss

The Nigerian Content Development and Monitoring Board (NCDMB) has grown Nigerian content in the oil and gas sector to 42 per cent. Mr Simbi Wabote, Executive Secretary of NCDMB gave the update on Wednesday, while speaking at a Local content...

January 19, 2022 No Responses

Oil Prices Hit Seven-Year High

The price of oil hit its highest level in more than seven years on Tuesday as traders worried that an attack on a fuel storage facility in the Middle East could affect supply. A suspected drone attack by Yemeni Houthi...

October 27, 2021 No Responses

TotalEnergies Names France’s 1st LNG Bunker Vessel

The first liquefied natural gas (LNG) bunker vessel to be based in France has been officially named Gas Vitality at a ceremony held on Tuesday at Hudong-Zhonghua Shipbuilding in China. The 18,000-cbm newbuild vessel is TotalEnergies Marine Fuels’ second coll...

September 17, 2021 No Responses

DPR Seals 11 Gas Plants

The Department of Petroleum Resources (DPR), in Abuja, on Thursday sealed 11 illegal gas plants and two filling stations over sharp practices. The News Agency of Nigeria (NAN) reports that the Liquified Petroleum Gas (LPG) — also known as cooking...

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 ...

June 15, 2021 No Responses

Oil Prices Climb As Demand Outlook Improves

Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply.Brent crude was up 51 cents, or...

January 4, 2021 No Responses

Oil Prices Drop As OPEC Warns of 2021 Q1 Downside Risks

Oil prices edged lower on Monday, the first working day of 2021 trading, ahead of a meeting of OPEC and allied producers to discuss output levels for February with fears for first-half demand seeping into the market as the coronavirus pandemic lingers.Bre...

July 9, 2020 No Responses

NUPENG Pickets Variant Energy Over Alleged Anti-Labour Practices

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) on Thursday picketed the Victoria Island, Lagos office of Variant Energy Services over anti labour practices. NUPENG Lagos Zonal Chairman, Tayo Aboyeji, explained that the patience and understandi...

June 9, 2020 No Responses

BP To Cut 10,000 Jobs As Coronavirus Hits Demand For Oil

BP has announced plans to cut 10,000 jobs following a global slump in demand for oil because of the coronavirus crisis. The oil giant had paused redundancies during the peak of the pandemic but told staff on Monday that around...

October 6, 2019 No Responses

OPEC, GECF Seal Research, Cooperation MoU

The Secretaries General of the Organization of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF) have signed an Memorandum of Understanding (MoU) to strengthen cooperation in research and the sharing of best practices. &nbsp...

July 3, 2019 No Responses

NSE Suspends Conoil, Ten Others

The Nigerian Stock Exchange (NSE) on Tuesday suspended trading in the shares of 11 companies over delayed filing of accounts. According to NSE Head, Listings Regulation Department, Godstime Iwenekhai, the companies are: Conoil, FTN Cocoa Processors, Goldlink I...