NUPENG Members Shutdown NSCDC over Impounded Trucks, 130,000 Litres of PMS Members of Petroleum Tanker Drivers branch of the Nigerian Union of Petroleum and Natural Gas Workers, NUPENG on Wednesday shutdown activities at the Rivers State Command of the Nigeria Security and Civil Defence Corps, in protest over three impounded trucks with 130,000 litres of…
Oil Moves Lower after EIA Confirms Large Crude Build Crude oil prices inched lower today after the Energy Information Administration reported an estimated inventory build of 7.9 million barrels for the week to June 9. This compared with a modest inventory draw of half a million barrels for the previous week and an estimated build…
Stakeholders applaud FG’s achievement in transport industry Stakeholders have lauded the immediate past Minister of Transportation, Muazu Sambo and Minister of State for Transportation, Ademola Adegoroye, for the transformational change and key achievements recorded in the transport and maritime industry in 10 months.Sambo and Adegoroye were appointed in July 2022 to superintend over the transport…
TotalEnergies makes oil and gas discovery offshore Nigeria TotalEnergies, an international oil company, IoC, has made a major oil find in Oil Mining Lease, OML102, offshore Nigeria. The oil find, popularly known as “the Ntokon-1AX discovery” has the prospect of sustaining a commercial production that would culminate in increasing Nigeria’s oil reserves. The nation’s oil…
Ghana Regains First Position in Gold Production – Lands Minister Ghana has regained her position as the number one gold producer in Africa after losing the position to South Africa in 2021 due to a drastic fall in output. According to the Minister of Lands and Natural Resources, Mr Samuel Abu Jinapor, gold production by…
Nigeria Navy Appoints New Co-Chair for Shade Gulf of Guinea Collaboration Key to Sustenance of Security – Jamoh The Chief of Naval Staff (CNS), Vice Admiral Awwal Zubairu Gambo, CFR has approved the appointment of Rear Admiral PE Effah as the new Co-Chair of the Gulf of Guinea Maritime Collaboration Forum Shared Awareness and De-Confliction…
Ghana: ECG Backs up Accra Power Supply …As President Inaugurates $40m 161kv Electricity Bsp President Nana Addo Dankwa Akufo-Addo yesterday inaugurated the newly constructed Accra Central Electricity Bulk Supply Point (BSP) with a firm commitment not to return the country to the era of ‘dumsor.’ The inauguration of 161KV BSP brings to four the number…
Savannah Energy Announces FY 2022 Audited Annual Results with 20% Increase Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa is pleased to announce its audited results for the year ended 31 December 2022. The results show that Savannah’s total revenues grew 26% to US$290.4m (from US$230.5m in 2021), ahead of previously issued guidance of US$215m. Adjusted EBITDA likewise rose 27% to US$222.4m (FY21: US$175m), and…
NNPC Limited Provides Clarity on 2021 Profit The Nigeria National Petroleum Company Limited, NNPCL, has offered clarification on the Profit After Tax, PAT, figures discussed by its Group Chief Executive Officer, GCEO, Mr. Mele Kyari, on Arise TV’s “The Morning Show”. Among the issues the GCEO discussed on the programme was the 2021 profit margin….
European Natural Gas Demand Drops as Top Economies Slow Despite a drop in natural gas prices in two years, Europe’s natural gas demand continues on a downward slope and fell in May from a year earlier as industries are slowing and major economies enter a recession. Natural gas demand in the biggest European economies –…
