Russia’s Oil Exports Rose but its Revenue Fell Ahead of Price Cap -IEA Russia’s oil exports rose in November ahead of a Dec. 5 price cap imposed by the G7, the European Union and Australia to curb Moscow’s wartime revenue, the International Energy Agency (IEA) said on Wednesday. However, lower global prices and steeper discounts…
11PLC Heads to Supreme Court over Sale of Continental Hotel …Files stay of execution of Appeal Court’s judgment The Asset Management Corporation of Nigeria (AMCON), Polaris Bank Limited and 11PLC has approached the Supreme Court seeking to quash the recent judgement of the Appeal Court nullifying the sale of Lagos Contintental Hotel to 11PLC. In a statement issued yesterday,…
New Alliance to Promote Hydrogen Energy in Africa, Reduce Emissions The Africa Green Hydrogen Alliance – AGHA Green Hydrogen Organisation – GH2 will be coordinating with the African Hydrogen Partnership (AHP) to lay the foundation for establishing hydrogen economies and societies in Africa besides promoting the creation of a pool of investments. The Alliance established…
Shell emerges best local content operator Shell Companies in Nigeria have been named the best local content operators at the 2022 annual industry dinner and awards ceremonies of the Petroleum Technology Association of Nigeria (PETAN) held in Port Harcourt, the Rivers State Capital, on Friday. The Managing Director of Shell’s deep-water business, Shell Nigeria Exploration…
Savannah Announces SPA with PETRONAS for Acquisition of Entire South Sudan Oil and Gas Portfolio Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that it has entered into a Share Purchase Agreement (“SPA”) with PETRONAS International Corporation Limited (“PETRONAS”) to acquire PETRONAS’ entire…
Oil Edges Up On U.S. Pipeline Restart Uncertainty, Russian Supplies Oil prices rose as much as more than 1% on Monday as a key pipeline supplying the United States remained shut while Russian President Vladimir Putin threatened to cut production in retaliation for a Western price cap on its exports. Brent crude futures were up…
Wabote says NOGIC Act will be Implemented with Pragmatism Giving his closing remarks at the 11th Practical Nigerian Content (PNC), the Executive Secretary of Nigerian Content Development Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, urged stakeholders to implement the NOGIC Act. In his words: The law is aspirational with aspirational targets. So, it must be…
Reps Summon CBN Gov Over Cash Withdrawal Limit The House of Representatives has summoned the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over the apex’s recent policies on Naira redesign and cash withdrawal limits. At its plenary on Thursday, the lawmakers passed a resolution inviting Emefiele to appear before them to “shed…
US sees Record 2023 Oil Output in Reversal after Cutting Outlook The U.S. raised its forecast for oil production next year, reversing course after five straight months of cuts that stoked concern about a slowdown in output from shale fields. Production is poised to average 12.34 MMbpd next year, topping the record 12.315 MMbpd set…
Give us Petrol at Official Ex-Depot Price, IPMAN Tasks NNPC Ejigbo Satellite Depot of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Nigerian National Petroleum Company Ltd. (NNPCL) to give same window given to Major Oil Marketers Association of Nigeria (MOMAN) to buy fuel at regulated depot price of N148.17 per litre….
