Chevron Surges with Record Cash Returns and Oil Production Despite Profit Dip Houston, Texas – February 3, 2024 – Chevron capped off a banner year with record cash returned to shareholders and oil & gas production, despite a slight dip in reported earnings for the fourth quarter of 2023. The energy giant outperformed analyst expectations,…
Import Costs Skyrocket in Nigeria as CBN Hikes Duty Rate by 43% Lagos, Nigeria – February 3, 2024 – Nigerian businesses and consumers brace for a significant blow as the Central Bank of Nigeria (CBN) unexpectedly raises the import duty rate by a staggering 43%. This move, effective immediately, threatens to further cripple the already…
CISLAC Urges Bold Tax Reforms as Nigeria Grapples with Revenue Strain In the face of a noticeable decline in federal funding for vital economic sectors, the Civil Society Legislative Advocacy Centre (CISLAC) is pushing for comprehensive tax reforms to compel affluent individuals and organizations to contribute more to Nigeria’s national revenue. Speaking passionately at a…
Namibia International Energy Conference 2024: Fueling Economic Growth through Energy Innovation Windhoek, Namibia – February 5, 2024 In a bid to harness its energy potential for economic prosperity, Namibia is gearing up for the highly anticipated Namibia International Energy Conference (NIEC) set to take place from April 23-25, 2024, at Droombos Estate Windhoek. This conference…
Shell, Partners Greenlight Gas Pipeline to Power Dangote Fertilizer Plant. Shell and its partners in the Shell Petroleum Development Company of Nigeria (SPDC) have announced a major investment decision to support Nigeria’s gas ambitions. The joint venture, alongside the Nigerian National Petroleum Company Limited, TotalEnergies EP Nigeria Limited, and Nigerian Agip Oil Company, has committed…
Nigerian Navy Cracks Down on Illegal Refining in Bayelsa, Destroying Three Sites The Nigerian Navy, continuing its fight against oil theft in Bayelsa State, has destroyed three illegal refineries containing approximately 50,000 liters of suspected stolen crude oil. Key Points: Operation Delta Sanity: The action falls under the Navy’s “Operation Delta Sanity” aimed at eliminating illegal…
Death Toll Rises to Seven in Rivers Petrol Fire Explosion Seven people have confirmed dead after a petrol fire ripped through a jetty in Rivers State, Nigeria, trapping passengers and destroying property. Key Details: The fire occurred at the Bonny/Nembe/Bille Jetty, off Creek Road in Old Port Harcourt Township. Boats carrying passengers and goods were caught…
OPEC Oil Production Slumps in January, Market Share Shrinks Further OPEC oil production saw its biggest monthly drop since July 2023 in January, according to a Reuters survey, highlighting the cartel’s declining market share despite recent output cuts. Key Takeaways: Oil output: OPEC produced 26.33 million barrels per day (bpd) in January, down 410,000 bpd from December….
OML79 Communities Reject SPDC Sale, Urge Inclusion in Decision-Making Process Leaders of EA/EJA Oilfields Communities Seek Protection of Stakeholder Interests Yenagoa, Bayelsa State – In a declaration, leaders representing the host communities of OML79, operating under the banner of the EA/EJA Oilfields Communities Traditional Rulers Leadership Forum, have issued a caution to Shell against proceeding…
Triple A Services & Petroleum CEO Atong Amos to Headline Global Black Impact Summit, Shedding Light on Black Excellence in the Energy Sector South Sudanese-born Atong Amos, a Leading Figure in Energy and Community Development, to Share Insights at GBIS 2024 Atong Amos, the visionary Founder and CEO of Triple A Services & Petroleum, is…
