Sinopec Signs New 27-Year LNG Supply Deal with QatarEnergy State-owned Chinese firm Sinopec (600028.SS) signed a new 27-year liquefied natural gas (LNG) supply and purchase agreement with QatarEnergy, the two companies said on Saturday. Under the agreement, the two companies will cooperate on the second phase of the Gulf Arab state’s North Field expansion project,…
U.S. Manufacturers Stumble in Setback for Diesel Demand U.S. manufacturers reported an unexpectedly widespread fall in business activity in October, postponing the sector’s exit from the prolonged downturn that began in late 2022. Industrial energy consumption appeared to be steadying over the summer but the anticipated rebound will now be pushed back into 2024. The…
Fresh Leaks from NEPL’s OML66 Well Sack Fishermen in Bayelsa Massive oil and gas leaks from a high-pressure wellhead on OML66 operated by the NNPC Exploration and Production Limited, NEPL, a Subsidiary of the Nigeria National Petroleum Company Limited, have displaced fishermen in Okpoama, Brass Local Government Area of Bayelsa State. NEPL which was formally…
Discos Licences Valid Till 2028, Not 2023 – NERC The Nigerian Electricity Regulatory Commission (NERC) has cautioned that the licenses of the 11 electricity distribution companies (DisCos) expire in 2028, not 2023, despite President Bola Tinubu’s criticism of the performance of most of the successor utility companies ten (10) years after the privatization deal. This…
Maersk to Sack 10,000 Workers as Shipping Boom Unravels Shipping group A.P. Moller-Maersk reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at least 10,000 jobs in the face of overcapacity, rising costs and weaker prices, sending its shares tumbling. Maersk, which controls about one-sixth of global container…
Reps to Probe Fuel Subsidy from 1999-2023 The Chairman, House of Representatives Committee on Petroleum Resources (Downstream), Ikeagwuonu Ugochinyere, has vowed on behalf of the Committee to conduct a comprehensive audit of the petrol subsidy regime from 1999-2023. Speaking at the inaugural meeting of the Committee in Abuja on Friday, Ugochinyere said the implementation of…
OPDS Intercepts Vessel with 300,000 Litres of AGO in Rivers The Joint Task Force operating the Niger Delta, codenamed Operation Delta Safe, OPDS, has arrested an oil tanker, MV Mother Mary, with 300,000 litres of suspected illegally refined Automotive Gasoline Oil, commonly known as diesel, in Rivers State. OPDS Commander, Rear Adm. Olusegun Ferreira, said…
Ministerial Panel to Unlock Regional Energy Potential at MSGBC 2023 …MSGBC Oil, Gas & Power 2023 – which is organized by Energy Capital & Power will open with a ministerial panel that will exchange insights and champion best practices in the regional energy sector The MSGBC Oil, Gas & Power 2023 conference and exhibition…
NNPCL Uncovered Over 150 Illegal Pipelines, Destroyed 172 Unapproved Refineries in One Month The Nigerian National Petroleum Company Limited (NNPCL), has continue to record significant milestone in its fight against crude oil theft and pipeline vandalism as it destroyed 172 illegal refineries and uncovered 150 illegal connections. The National Oil company, recorded this feat between…
NCDMB Boss Commissions Genesis Academy, Lauds Firm for Creating 2500 Jobs The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, on Thursday commissioned the corporate Head Office and Training Academy of the hospitality conglomerate, Genesis Group Limited, in Port Harcourt, Rivers State. The NCDMB boss lauded the firm…
