Ex-Agitators Petition Tinubu Over Pipeline Rehabilitation Contracts Ex-agitators in the Niger Delta have petitioned President Bola Tinubu, over alleged award of contracts for the rehabilitation of pipelines across the country only to a “Northern oil cabal” by NNPC Ltd. without companies owned by Niger Delta people. Recall that there has been controversy over the ownership…
Government Approves Nigeria’s First Industrial 3D Manufacturing Solution RusselSmith has been given permission by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, to use its industrial non-metallic additive manufacturing solution in the country’s oil and gas sector. Oil and gas companies can order fully functional and corrosion-resistant industrial components locally in a fraction of the time…
Crude Oil Production Hits 20-Month High of 1.57mbpd in September Nigeria’s average oil output reached a 20-month high in September, surpassing 1.57 million barrels per day, according to the most recent monthly report from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The report indicated that crude oil output (including condensate) rose by 11.1% from 1.43mbpd…
CBN to Boost Liquidity in Forex Market, Lifts Ban on 43 Items 43 commodities that had previously been prohibited from obtaining foreign exchange have been granted permission, according to a bank official on Thursday, as part of Nigeria’s central bank‘s commitment to increasing liquidity in the nation’s foreign exchange market. The ban covered items such…
Oil Prices will Surge if Iran is swept into War, Shale Tycoon Warns Oil prices will surge if the Israel-Hamas war escalates to include Iran, according to shale magnate Scott Sheffield. The founder and Chief Executive Officer of Pioneer Natural Resources Co. issued the warning during an interview with Bloomberg Television on Wednesday, just hours…
Tullow to Sustain African Oil Production through Asset Rejuvenation – CEO Tullow Oil Plc can sustain oil production at its West African hub through the next decade by focusing on asset rejuvenation, according to Chief Executive Officer Rahul Dhir. “I think we have line of sight” at being able to keep production above 100,000 bopd…
Crude Oil Theft: HURIWA Seeks Death Penalty for Oil Thieves After Nigeria Lost N2.3trn in 3 Months The Human Rights Writers Association of Nigeria (HURIWA) has been compelled to advocate the death penalty for oil thieves due to the financial losses brought on by theft of crude oil. The group made the call on Wednesday…
U.S. Treasury: Russia’s Oil Income reduced remarkably by G7 Price Cap Russian oil sales revenue has been “significantly” reduced as a result of the U.S.-led price cap on Russian oil exports, according to U.S. Treasury Secretary Janet Yellen on Wednesday. According to Yellen, the G7 price ceiling on Russian oil has “significantly reduced Russian revenue…
ACWA Power completes Financial Aspects of Ten Projects totaling more than US$14 billion in under 12 months. Largest in Company’s History ACWA Power, the world’s leading private water desalination company, has truly had an incredible year. Not only are they at the forefront of the energy transition movement and pioneers in green hydrogen, but they…
Suspected Pipeline Sabotage: Norway Strengthens Oil and Gas Security Following the alleged sabotage of the gas pipeline connecting Finland and Estonia in the Baltic Sea, police in west Norway have enhanced security measures and patrols at and around oil and gas infrastructure, a police spokesperson informed Norwegian daily Bergensavisen (BA). “We have increased our focus…
