Benchmark in Europe Power Prices Reaches Above 1,000 Europe’s for the First Time Amid energy crisis in Europe, power prices broke above 1,000 euros on Monday in the region for the first time. Bloomberg reports that German baseload year-ahead power prices climbed as much as 6.6% to 1,050 euros ($1,053) per megawatt-hour during Monday’s trading…
Monjasa Joins as Bronze Sponsor of Africa Oil Week One of the world’s 10 largest marine fuel suppliers to attend AOW 2022 CAPE TOWN, South Africa, August 30, 2022/ — Africa Oil Week (AOW) (Africa-OilWeek.com) is proud to announce Monjasa as a Bronze sponsor of Africa Oil Week. The global partner in oil and shipping…
Marathon Oil to Drive Gas Narrative as AEW 2022 Silver Sponsor The US-based independent E&P company will consolidate its position in African energy by coming to African Energy Week 2022 as a silver sponsor. Representing the voice of the African energy sector, the African Energy Chamber (AEC) believes in the significant role natural gas will…
NNPC, Security Agencies Recover 35.8 Million Litres of Crude Oil, 22 Million Litres of Diesel from Vandals The Nigerian National Petroleum Company Ltd in collaboration with security agencies has recorded huge success in the fight against crude oil theft with the recovery of 22 million litres of stolen crude. This was made known by Group…
NLNG Awards 10 Overseas Post-Graduate Scholarships in 2022 Nigeria LNG Limited (NLNG) today in Port Harcourt awarded post-graduate scholarships to ten (10) Nigerians to pursue Masters degrees at universities in the United Kingdom. The scholarships were awarded at the 2022 NLNG Post-Graduate Scholarship Scheme (PGSS) Award Ceremony by Mr. Andy Odeh, NLNG’s General Manager, External…
APGN says DisCos debt to GenCos hits N2tn Dr. Joy Ogaji Executive Secretary, Association of Power Generation Companies, revealed that Distribution Companies (DisCos) owe Generation Companies (GenCos) N2trn debt. While speaking during the ‘Power Sector Dilemma: Issues, Challenges, Opportunities And Strategic Key Solutions’, she argued that the GenCos were not owed N500bn as being reported…
Nigeria’s Oil Earning Dips 29% To N789bn in First Quarter Nigeria recorded significant decline in oil earnings in the first quarter of 2022, as petroleum revenue in the first three months of the year dipped by 29.15 per cent to N789.985 billion, compared with N1.115 trillion recorded in the previous quarter, October to December 2021,…
Local Content: NLNG Committed to improvement in Nigeria Nigeria LNG Limited (NLNG) has stated that it is committed to ensuring Nigerians benefit maximally from all its operations by going beyond mere compliance with Nigerian Content targets as set out in the Nigerian Oil and Gas Industry Content Development Act (NOGICD) 2010. NLNG’s Managing Director/Chief Executive…
Oil edges higher on prospect of OPEC+ supply cut Oil edged higher on Monday to extend last week’s gains as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Arabia, top producer in the Organization of the Petroleum Exporting Countries (OPEC)…
Support for Fossil Fuels almost Doubled in 2021 Major economies sharply increased support for the production and consumption of coal, oil and natural gas, with many countries struggling to balance longstanding pledges to phase out inefficient fossil fuel subsidies with efforts to protect households from surging energy prices, according to analysis released today by the…
