Why Bonga is such a success – SNEPCo MD Bonga, Nigeria’s first deep-water development has been an outstanding producer due to effective leadership, cutting-edge technology, continuous improvement, integrated delivery and collaboration with partners and stakeholders, Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni. said on Thursday at the 2024 Offshore Technology Conference…
$1.09 billion paid by Shell Nigeria in taxes, royalties in 2023 Shell exclusively paid a total of $1.09 billion in corporate taxes and royalties to the Government of Nigeria last year through the operations of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo.)…
2024 Bid Round: Those Seeking Oil Blocks must be Financially, Technically Capable – Minister The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has said that those seeking for the 17 oil blocks on offer for sale under the 2024 licensing bid round must be financially and technically capable. The minister stated this…
Azule Energy, Angola’s Leading Independent Oil and Gas Producer, Spearheads Bold Upstream Plans at African Energy Week 2024 Azule Energy, Angola’s premier independent equity oil and gas producer, is poised to revolutionize and digitize its upstream operations, aligning with the nation’s ambitious energy production targets. As a testament to its dedication to harnessing Africa’s energy…
Nigerian Government Offers 26 Oil Blocks for Acquisition Amidst Shell, ExxonMobil, and Other IOCs’ Divestment Plans In a significant development, the Nigerian Government has unveiled plans for the acquisition of 26 oil blocks by local firms, as several International Oil Companies (IOCs) initiate divestment strategies. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed that IOCs…
OPEC+ Contemplates Extending Oil Production Cuts into June Meeting The upcoming OPEC+ meeting in June looms with the critical decision of whether to extend oil production cuts into the latter half of the year taking center stage. However, beyond this immediate concern, the alliance confronts the broader challenge of managing production capacity in the long…
NERC Unbundles TCN: New System Operator Assumes Transmission Function In a significant stride toward revamping Nigeria’s electricity sector, the Nigerian Electricity Regulatory Commission (NERC) has executed the unbundling of the Transmission Company of Nigeria (TCN), ushering in the Nigerian Independent System Operator of Nigeria Limited (NISO). This pivotal move stems from the federal government’s pronouncement…
Ikeja Electric Celebrates May Day with Awards for Excellence and Infrastructure Investments Ikeja Electric Plc (IE), Nigeria’s leading electricity distribution company, reaffirmed its dedication to enhancing network infrastructure to ensure efficient service delivery, as it celebrated International Workers Day. In a statement by Mr. Kingsley Okotie, Head of Corporate Communications, IE expressed gratitude to its…
Shell Surpasses Expectations with $7.7 Billion Q1, 2024 Financial Performance Oil giant Shell has outperformed analyst predictions, reporting earnings of $7.7 billion in the first quarter of 2024. This figure exceeded adjusted earnings expectations of approximately $6.46 billion, attributed to robust oil trading activities and higher refining margins. The company intends to bolster its share…
House of Representatives Committee on Petroleum Reassures Nigerians on Fuel Queues The House of Representatives Committee on Petroleum Resources (Downstream and Midstream) has addressed the recent fuel queues across Nigeria, aiming to calm public concerns. Key Points: Fuel Availability: The Committee assures Nigerians that there is sufficient petrol in storage facilities, with over 1.5 billion…
