Anticipated Decline in Africa’s Oil Production Forecasted for the Coming Year According to a recent report by the African Energy Chamber (AEC), Africa’s oil production is anticipated to experience a gradual decline in 2024. The Executive Chairman of the African Energy Chamber, NJ Ayuk, has predicted a “relative calm” in the global oil market for…
Fire still burning at OML95 Oilfield 42 Months After Initial Explosion The fire that broke out in May 2020 on the Ororo-1 Well, a marginal field within Chevron Nigeria Limited’s operated OML95 in Ilaje, Ondo State, is still reportedly raging over 42 months later. Despite initial claims that the fire had been stopped after six…
Ruptures reported in Agip/Oando gas pipeline A gas explosion originating from a pipeline jointly operated by the Nigerian Agip Oil Company and Oando Plc has shaken Omoku town in the Ogba/Egbema/Ndoni Local Government Area of Rivers State, releasing toxic fumes into the atmosphere. The incident, which began yesterday near Grace Orphanage Home off Egbada Road…
Anticipated Trends in the Oil Market and Their Implications for Africa As the African Energy Chamber reports in our newly released “The State of African Energy 2024 Outlook,” we are forecasting a “relative calm” in the liquids market for the remainder of 2023 Access Multimedia Content Six months after the World Health Organization (WHO) declared…
Shell Bags Medals at NAPE Conference Shell Companies in Nigeria (SCiN) and staff won several awards at the 41st annual international conference and exhibition of the National Association of Petroleum Explorationists (NAPE,) in Lagos, in recognition of an educative exhibition and insightful technical presentations. According to a statement by the Media Relations Manager, Abimbola Essien-Nelson,…
NSCDC Busts Crude Oil Thieves in Rivers, Destroys Illegal Refinery The Nigeria Security and Civil Defence Corps (NSCDC) has dismantled an illegal refinery in the Egbede area of Onelga LGA, Rivers State. Two suspects, Joseph Peter and Evans Okorie, were arrested in connection with the operation. The NSCDC’s Special Intelligence Squad apprehended the suspects, recovering…
ABS Advisory Council Gains Valuable Perspectives on the Future of Maritime during Annual Meeting The maritime industry is facing significant uncertainty shaped by changes in the regulatory framework and evolving factors such as safety, fuel availability, scalability, and ship-to-port infrastructure. This message was conveyed during the annual ABS Advisory Council Meeting on November 14, where…
Picking Up Steam: Africa will Overtake Europe in Geothermal Capacity by 2030, $35 billion Investments by 2050 – Rystad Energy Africa’s geothermal sector will attract at least $35 billion in investments by 2050, showing the critical role geothermal is set to play in meeting the continent’s rapidly growing energy demand. Rystad Energy’s latest projections reveal…
Nigeria Firmly Committed to 2060 Energy Transition Plan – House of Reps The Chairman of the House of Representatives Committee on Climate Change, Hon. Chris Nkwonta, has affirmed his dedication to facilitating Nigeria’s attainment of the target to achieve net-zero greenhouse gas emissions by 2060, as outlined in the nation’s energy transition plan. Nkwonta who…
Nigeria Withdraws $1.1 bln Claim against Eni on Oilfield Deal Nigeria is withdrawing civil claims totalling $1.1 billion against Italian energy group Eni and related to allegations of corruption in a oilfield deal, Bloomberg News reported on Thursday. The West African country’s justice ministry will waive the claims before Italy’s highest court “unconditionally” and “with…
