Goldman Sachs Sees No Immediate Impact on Oil Inventories From Israel Attacks Goldman Sachs does not see any immediate major effect on near-term oil market inventories from the attacks in Israel over the weekend, it said in a note. It added, however, that the attacks reduce the likelihood of normalization of the country’s relations with…
Australia LNG Unions Threaten Fresh Strikes Next Week, Chevron says Deal Possible Chevron has asked Australia’s industrial tribunal to help resolve a “small number” of issues blocking a deal with unions at its two liquefied natural gas (LNG) facilities in Western Australia as workers announced plans to resume strikes next week. Chevron said on Monday…
Shell Nigeria Invests $56.13m for Trust Funds in 2023 Shell companies in Nigeria (SCiN), plans to spend about $56.13 million has been earmarked to be paid in this financial year, as a statutory contribution to the Host Communities Development Trusts (HCDT). The amount, which will be paid by two of its subsidiaries – The Shell…
Putin Says OPEC+ Output Cuts ‘Likely’ to Continue into 2024 Russian President Vladimir Putin told an energy conference in Moscow on Wednesday that Russia and Saudi Arabia would “most likely” extend output cuts into 2024 and warned that clashes in the Middle East could impact oil exports with higher shipping and insurance costs. “I am…
Oil Assets Divestments Will Boost Production, Employment – Wabote The Nigerian oil and gas industry is poised for a boost in crude oil production, employment creation, and capital injection with the planned divestment of some assets by select international oil and gas companies and concomitant acquisition by Nigerian operating companies, the Executive Secretary, Nigerian Content…
NCDMB Donates ICT Centre to Bayelsa Community School The Nigerian Content Development and Monitoring Board, NCDMB, has commissioned and handed over a newly completed Information and Communication Technology, ICT, Centre to Community Secondary School, Angalabiri, Sagbama Local Government Area of Bayelsa State. The centre, which is fully air-conditioned and with a fortified roof, reinforced metal…
Putin hosts Iraqi PM in Kremlin, hails cooperation in OPEC+ Russian President Vladimir Putin hosted Iraqi Prime Minister Mohammed Shia Al-Sudani in the Kremlin on Tuesday and praised cooperation between their countries at the OPEC+ group of top oil producers, saying it had helped to stabilise energy markets. “We coordinate work within the framework of…
Exploring Alternative Energies When the government removed subsidy from Premium Motor Spirit (PMS) also known as petrol or fuel, the country was caught unawares about the decision which took place exactly the day when President Bola Tinubu took oath of office in May 29, 2023. The intension is to liberalise and deregulate Nigeria’s petroleum downstream…
Dangote Cement Denies Running Sales Promo Management of Dangote Cement Plc has denied reports in some online platforms that it has embarked on sales promotion and has further adjusted its prices. In a response to the misleading report, the Chief Branding and Communications Officer of the Dangote Group, Anthony Chiejina described the reports as mischievous,…
FG hasn’t reintroduced fuel subsidy, NNPCL chief Kyari maintains The group chief executive officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has emphatically stated that there was no more subsidy on petrol in Nigeria. He disclosed this to State House correspondents on Monday after a meeting with President Bola Tinubu at the…
