Oil Prices Decline Nearly 2% as Investors Monitor Developments in the Red Sea Oil prices experienced a nearly 2% decline on Wednesday, reversing the gains from the previous day. The drop was attributed to ongoing concerns about the Red Sea situation, where shippers are returning despite additional attacks. Brent crude futures settled down at $79.65…
NMDPRA Directs Operators to Adhere to Regulatory Guidelines The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has asked oil companies to comply with regulations in the industry. This comes as the organisation expressed readiness to release seven new regulations for the smooth implementation of the Petroleum Industry Act (PIA), adding that the move…
Maersk to Resume Red Sea Transits Amid U.S. Launch of ‘Operation Prosperity Guardian’- Israel/Gaza Conflict Danish container shipping major Maersk is gearing up to restart vessel transits through the Red Sea after deploying naval assets in the region under the multinational security initiative Operation Prosperity Guardian (OPG). The United States initiated this new multinational security…
Legal Action Planned Against NNPC Ltd Over Nigeria’s Revenue and Daily Oil Production The Socio-Economic Rights and Accountability Project (SERAP) has taken NNPC Ltd to court over the failure to disclose information regarding Nigeria’s daily oil production, exportation, and the total revenue generated from crude oil sales since the removal of the fuel subsidy in…
Rivers Chiefs Vow to Back NDDC in the Development of Niger Delta The Ogu Divisional Council of Chiefs in Rivers State has declared its commitment to backing the Niger Delta Development Commission (NDDC) and its Executive Management in the urgent task of developing various communities in the Niger Delta region. During a solidarity visit to…
Sprovab’s Digital Safety Innovation to Elevate HSE Culture in Oil & Gas Sprovab Nigeria Limited, an indigenous oil and gas service company, is revolutionizing the industry’s Health, Safety, and Environment (HSE) culture with its groundbreaking innovation – the Digital Safety HSE Statistics Board. Unlike traditional manual statistics boards prevalent in most organizations, this digital device…
NAOC Joint Venture Donates Medical Equipment to Rivers, Bayelsa, Delta, and Imo States – Corporate Social Responsibility The Nigerian Agip Oil Company (NAOC) on behalf of the NAOC Joint Venture has donated medical equipment to tertiary health institutions and hospitals in the four states of its operations in the Niger Delta region of Nigeria. The…
EFCC Removes Controversial Social Media Post Regarding Former Minister Diezani The Economic and Financial Crimes Commission (EFCC) has reportedly deleted an Instagram post that quoted former Minister of Petroleum Resources Diezani Allison-Madueke speaking on money laundering charges brought against her. The post had claimed that she made the statements in an interview with journalists in…
Mechanical Completion of Port Harcourt Refinery- NNPCL’s Christmas Gift to Nigerians The Port Harcourt refinery, situated in Nigeria’s oil-rich Niger Delta region and operational since 1965, stands as the oldest and largest among the three government-owned oil refining facilities in the West African nation. Operated by the Port Harcourt Refining Company (PHRC), a subsidiary of…
TotalEnergies Set to Resume Mozambique LNG Project in Early 2024, Say Sources French energy company TotalEnergies (TTEF.PA) intends to resume its long-postponed $20 billion liquefied natural gas (LNG) project in Mozambique in the first quarter of the upcoming year, according to two sources who spoke to Reuters late on Friday. The project has been on…
