Oil & Gas – Page 4 – City Business News

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...

May 31, 2019 No Responses

Cameron Begins LNG Export

All is now set for the export of Liquefied Natural Gas (LNG) from Cameron. The 177,000 cbm LNG carrier Marvel Crane is poised to become the first ship to load LNG cargo from the Cameron LNG project that started production...

May 23, 2019 No Responses

Conoil Appoints New Executive Director

The Board of Conoil Plc has approved the appointment of Mr. Ismail Salam as the Acting Executive Director Finance. In a notice to the Nigerian Stock Exchange (NSE) on Wednesday, Conoil Plc explained that Mr. Ismail Salam is an accomplished...

April 28, 2019 No Responses

Nigeria To Bridge Petroleum Products Supply Gap

The Group Managing Director, Nigerian National Petroleum Corporation, Dr Maikanti Baru, says the corporation plans to bridge the gap of petroleum products supply in the country. Baru disclosed this while fielding questions from journalists after a facility tou...

February 17, 2019 No Responses

First Cameron LNG Export Gets US Green Lights

The Cameron Liquefied Natural Gas (LNG) project came a step closer to loading its first LNG cargo for global export as U.S. Coast Guard personnel wrapped up a safety inspection at the site. The safety inspection included a review of the terminal’s...

December 24, 2018 No Responses

Shell Nigeria Explains Investment In Imo, Targets 300mcf Gas For Domestic Market

The Shell Petroleum Development Company of Nigeria Limited (SPDC) on Sunday has announced the Final Investment Decision (FID) on the Assa North Gas Development Project in Imo State. The project is regarded as a major momentum to the domestic gas...

December 6, 2018 No Responses

NNPC Implores Investors On 10b Barrels Deep-Water Resources

The Nigerian National Petroleum Corporation (NNPC) on Wednesday multi-billion dollar investment opportunities in the nation’s deep-offshore frontiers at the 10th World Energy Capital Assembly in London, United Kingdom. Delivering his address at the panel...

December 4, 2018 No Responses

Qatar Pulls Out Of OPEC

Qatar has announced it is pulling out of the Opec oil producers’ cartel, just days before the group meets in Vienna. The Gulf state, which joined Opec in 1961, said it would leave the cartel in January and would focus...

December 3, 2018 No Responses

Shell Nigeria Seals Gas Supply Agreement For Power Project

The Shell Petroleum Development Company of Nigeria (SPDC) and its joint partners have signed a gas supply and aggregation agreement that will support the 140 Megawatts Aba Integrated Power Project in Abia State. The agreement, signed in Abuja, was between...