Author: Chigozie Ikpo

NSA COMMENDS GOVERNMENT SECURITY FORCES, COMMUNITY SECURITY CONTRACTORS, AND NNPC LTD FOR STEPPING UP THE FIGHT AGAINST CRUDE OIL THEFT President Bola Tinubu dispatched a high-powered delegation to the Niger Delta for stakeholder engagements on-the spot assessment on the fight against crude oil theft in the Niger Delta. The delegation led by Ministers of Defence,…

U.S. Oil Industry Sues Biden Administration Over Gulf of Mexico Lease Sale The American Petroleum Institute (API), U.S. supermajor Chevron, and the state of Louisiana are suing the Biden Administration after the federal government reduced the area to be offered in the next Gulf of Mexico oil and gas lease sale by 9% to safeguard…

Tinubu Approves CNG Initiative – Targets Nationwide Adoption with Workshops for Smooth Transition to CNG-Fueled Vehicles In furtherance of his commitment to easing the impact of fuel subsidy removal on Nigerians by reducing energy costs, President Bola Tinubu has approved the establishment of the Presidential Compressed Natural Gas Initiative (PCNGI). This transformative initiative is poised…

Russia’s Lukoil plans to buy back shares from foreign investors – Ifax cites sources Russian oil major Lukoil is asking Russian authorities for permission to buy back up to 25% of its shares from foreign investors at a discount of at least 50%, the Interfax news agency reported on Tuesday, citing sources. Lukoil’s shares were…

Saudi Aramco Cancels McDermott Contracts worth $1.8 Billion Saudi Aramco has canceled three contracts with U.S. McDermott for the expansion of the Zuluf field, which will cost several billion dollars. The contracts themselves were worth some $1.8 billion, Oil and Gas Middle East reports. The news follows a report earlier this month from Energy Intelligence,…

Goldman Sachs: Large Inventory Draws Limit Downside Risk to Oil Prices Larger than previously expected oil inventory draws in developed economies could limit downside risks to oil prices and add $2 a barrel to Goldman Sachs’s end-year call for $86 per barrel Brent, the bank said in a note. Commercial oil stocks in the OECD…

NGA Partners with WIEN to Address Diversity, Equity and  Inclusion Disparities in Nigeria’s Oil & Gas Industry In line with contemporary good practices on Diversity, Equity and Inclusion (‘DEI’), the Nigerian Gas Association (NGA) has established a DEI Study Group. This Study Group will champion the NGA’s drive for a more diverse, equitable, and inclusive…

U.S. Oil Firm Apache Plans to Invest $1.4 Billion in Egypt Apache Corporation plans to invest next year $1.4 billion in Egypt’s energy industry, where the U.S. firm is one of the biggest investors and the largest oil producer in the North African country. The investment plans were unveiled during a meeting on Sunday of…

Refineries must work, in-country capacity must increase, says PETROAN The Petroleum Products Retail Outlets Owners Association of Nigerian, PETROAN, has called on the Federal Government to declare a state of emergency on the nation’s four state-owned refineries, saying the refineries must work and in-country capacity must increase to address high fuel prices. National President of…