Big Oil Profits to Take a Hit amid Lower Oil and Gas Prices Big Oil Companies Big Oil companies Exxon Mobil Corp. (NYSE:XOM) and Chevron Corp. (NYSE:CVX) are both set to report a significant drop in second quarter profits when they return their quarterly scorecards on the 28th of July thanks to a sharp decline…
Nigerian Navy, NIMASA to strengthen ties towards Deep Blue Project Success The Nigerian Navy says assets acquired by the Nigerian Maritime Administration and Safety Agency (NIMASA) under the Integrated National Security and Waterways Protection Infrastructure, otherwise known as the Deep Blue project have been deployed across the South West, Central and Eastern Zonal operations to enhance…
NERC, DisCos fine-tune tariffs hike plan The National Assembly yesterday objected to the proposed electricity tariff hike in the Nigerian Electricity Regulatory Commission (NERC) and the Electricity Distribution Company (DisCos). But the Senate and the House of Representatives said the proposed tariff increase should be put on hold to “allow Nigerians to breathe”. In particular,…
TUC Gives Govt 2 Weeks Ultimatum Over Fuel Subsidy Negotiation The Trade Union Congress of Nigeria, TUC, yesterday, gave the Federal Government a two-week ultimatum to conclude negotiations or face workers’ protest. TUC threatened that if after August 19, nothing tangible was concluded it would be forced to take further action to protect members and…
Reps Vow to Recover $9bn Gas Flaring Fines From Erring Oil Firms The House of Representatives said it will stop at nothing to recover the over $9 billion gas flaring fines imposed by the federal government on erring local and foreign companies operating in the oil and gas industry. The House through its Ad-hoc Committee…
Oil Marketers push for Petrol Price Hike amid Deregulation Oil marketers are clamouring that market indicators should determine the price movement of Premium Motor Spirit, commonly known as petrol, even if it means the price could potentially reach N700. This comes after a 165 per cent increase in petrol prices to N500 following President Bola…
U.S. Supports GAF Fight Against Piracy in Gulf of Guinea The U.S. is to invest $48 million this year to help train and equip the Ghana Armed Forces, GAF, to fight piracy and illegal fishing to improve maritime security in the Gulf of Guinea. “We know security threats don’t just come from the Sahel; piracy…
Oando PLC joins AEW 2023 as Platinum Sponsor & Clean Energy Partner The African Energy Chamber (AEC) (www.EnergyChamber.org) is pleased to announce that Nigerian multinational energy company Oando PLC has joined the African Energy Week (AEW) 2023 conference and exhibition – taking place on 16 – 20 October 2023 in Cape Town – as a…
NNPC signs agreement with UTM Offshore for FLNG project The UTM FLNG project is expected to produce 176 million cubic feet of gas per day from the Yoho offshore field. Nigerian National Petroleum Company (NNPC) has signed a heads of terms agreement with oil and gas company UTM Offshore for the construction of what is claimed…
Nigeria Energy Returns to celebrate 10 Years of Driving West Africa’s Energy Sector Growth Nigeria Energy Exhibition and Conference, West Africa’s largest and most established energy gathering featuring some of the most innovative power companies, from conventional power generation through to transmission and distribution and renewable energy and energy consumption and management in the region,…
