Oil & Gas Archives — City Business News

October 30, 2023 No Responses

Wabote: Two Edo Refineries To Boost Nigeria’s 1.5m bpd Refining Capacity By 2025

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has said that the two refineries in Edo State, the Edo Refinery and Duport Midstream Refinery, which are currently refining petrochemical products, are well positioned to contribute to Nigeria’s 1.5 million barrels ...

October 24, 2023 No Responses

Wabote: Nigerian Oil Industry Is On Steady Growth Trend

The Nigerian oil and gas industry is growing steadily across several fronts despite reduced investments due to the global quest for cleaner energy and divestments of some onshore and shallow assets by a few international oil companies, the Executive Secretary....

October 5, 2023 No Responses

NCDMB Implores Indigenous Oil Operators On Nigerian Content Act

The Nigerian Content Development and Monitoring Board (NCDMB) has urged the indigenous oil operators to comply with the Nigerian Content Act so as to make the industry robust for all stakeholders. The Executive Secretary (ES), Engr. Simbi Wabote, gave this...

August 21, 2023 No Responses

Oil Prices Up As Global Supply Drop

Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high-interest rates. Reuter report that Brent crude climbed 75 cents to $85.55 a barrel...

June 19, 2023 No Responses

ExxonMobil Appoints Shane Harris Chairman/MD

ExxonMobil has appointed Shane Harris as the new chairman and managing director of its affiliates – Mobil Producing Nigeria Unlimited, Esso Exploration and Production Nigeria Limited, and Esso Exploration and Production Nigeria – in Nigeria. A statement is...

June 2, 2022 No Responses

Seplat Awards N5b Shares To Three Directors

Seplat Energy Plc has announced that share awards have been granted to three top directors under its 2014 Long Term Incentive Plan (LTIP). The beneficiaries include Mr Roger Brown, Chief Executive Officer, who was awarded 1,733,345 shares; and Mr Emeka.....

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...