FDI key to Africa’s gas reserves development– SNEPCo MD African countries must take deliberate steps to attract foreign direct investments (FDI) to harness their vast gas resources given the huge amount of capital required, Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo) Elohor Aiboni, said last week in Lagos at the 2023…
Oil Products Accounted for 57% of 2021 U.S. Energy Expenditure Petroleum products accounted for the largest share, 57%, of the amount U.S. consumers spent on energy in 2021, as overall energy spending jumped by inflation-adjusted 25% from 2020, due to higher consumption and prices, the Energy Information Administration (EIA) said this week. In 2021, the…
OPEC’s Production Drops more than 1 Million Bpd In July: Argus A third survey has come in showing that OPEC’s production dipped even more than earlier estimates, according to Argus, which showed that production fell in July by more than 1 million bpd as Russia and Saudi Arabia stepped up their efforts to curtail production….
Gas Prices Inch Higher as TotalEnergies Shuts Down Port Arthur Refinery French supermajor TotalEnergies was forced to shut down a unit at its 225,000-barrels-per-day refinery at Port Arthur in Texas due to a leaky pump, adding to other refinery outages that have pushed U.S. gasoline prices higher in recent days alongside the rise in crude…
Shareholders, CSOs query Seplat’s $19.4m legal fees, demand probe, sack of Board Some shareholders of Seplat Energy Plc and civil society organisations under the aegis of Make a Difference Initiative (MADI) have alleged foul play in the $19.4 million professional legal fee published in the half-year report of the energy company, calling on President Bola…
WorldStage Economic Summit 2023 set for National Dialogue on Electricity As stakeholders in the Nigerian economy take stock of the recently signed Nigeria Electricity Act 2023 by President Bola Tinubu with the hope that it will address the multifarious challenges across the electric power sector, the WorldStage Economic Summit (WES) has resolved to host ‘National…
PENGASSAN joins protest against NUPRC’s Chief Executive in Rivers The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has joined in the ongoing protest against the Chief Executive Officer the Nigeria Upstream Petroleum Regulatory Commission, NUPRC in Port Harcourt. This is as staff of NUPRC, formerly called the Department of Petroleum Resources, DPR,…
Shell, partners revamp flood-ravaged hospital in N’Delta The Shell Petroleum Development Company of Nigeria (SPDC) and its joint venture partners have given a new lease of life to government owned Edagberi Cottage Hospital in Ahoada West Local Government area of Rivers State. The 20-bed hospital was ravaged by flood in 2012 which rendered it disused…
NNPCL/NIPCO to deploy 35 CNG stations The Nigerian National Petroleum Company Limited (NNPCL) has partnered with NIPCO Group to deploy 35 Compressed Natural Gas (CNG) stations nationwide. NNPCL Group Chief Executive Officer, Malam Mele Kyari said, the initiative is in addition to the phased deployment of 56 CNG stations planned by NNPC Retail across the…
Russia Africa Summit: FG promises speedy completion of Ajaokuta steel company *Achieved 97%completion Due to the quest for rapid industrial revitalization, the Federal Government has stated that speedy completion of Ajaokuta steel company was a major motivation that encouraged her to attend the Russia African Summit. The Vice President, Kashim Shettima, who stated this while…
