UK Energy Bills are Falling, But Still Nearly Double Pre-Crisis Levels Households will pay less for their gas and electricity from Saturday amid warnings that bills will still be almost double the amount they were before the energy crisis began. The average household energy bill will fall by £426 a year from July 1 after…
Eleme Oil Spills: Oilwatch Africa Demands Accountability from Operators A group known as Oilwatch Africa has expressed regret that oil companies in Nigeria were unserious in ensuring their facilities are in good working conditions, following the two oil spills reported in Eleme, Rivers State in the last two weeks. The two separate oil spills in…
New Mexico Slaps $40 Million Fine on Ameredev over Excess Emissions New Mexico regulators have fined a Texas-based oil and gas company with more than $40 million for violating emissions standards and air quality rules. The New Mexico Environment Department (NMED) and the New Mexico Energy, Minerals and Natural Resources Department (EMNRD) announced this week…
Kwanza Block Tenders Spur new wave of Investment in Angola …Concession contracts for the production of Angola’s onshore Kwanza Basin has resulted in the entry of new international players to the country’s oil and gas space Angola’s national concessionaire the National Oil, Gas and Biofuels Agency (ANPG) signed four direct concession contracts for the production…
Oil Edges Higher on U.S. Inventory Fall Oil prices edged higher on Thursday, buoyed by a bigger-than-expected fall in U.S. inventories, but fears that rising interest rates could dent global economic growth limited gains. Brent crude futures rose 45 cents, or 0.6%, to $74.52 a barrel by 1106 a.m. ET (1503 GMT). U.S. West Texas…
Seplat Committed to Purchasing ExxonMobil Nigerian Oil & Gas Assets Seplat Energy Plc remains committed to purchasing Nigerian oil and gas assets from ExxonMobil Corp. by completing a deal that’s been held up by the West African state for more than a year. The Lagos and London-listed company is hoping that President Bola Tinubu, the…
Why Petrol Consumption Dropped to Over 40ml- MOMAN Petrol Consumption has Dropped to Over 40ml. According to the Major Marketers Association of Nigeria (MOMAN) Executive Secretary, Clement Isong, disclosed that the drop of fuel consumption was because customers adjusted their lifestyle. He also noted the consumption declined by over 20% because the prices soared and Nigeria’s…
Exxon Expands Lithium Plans with New Arkansas Deal Exxon has inked a deal with a chemicals producer for the development of lithium resources in Arkansas as it ventures further into the battery metal, Reuters has reported. The news follows last month’s report by the Wall Street Journal that Exxon had acquired the rights to a…
China to Release Millions of Barrels of Imported Oil Stuck at Ports China will start releasing an estimated 10 million barrels of oil imported from Iran and Venezuela and waiting at ports for weeks amid increased cargo scrutiny, Reuters reported on Wednesday, citing trading sources with knowledge of the matter. In April, authorities at China’s…
Norway approves more than $18 Billion in Oil, Gas Investments Norway’s government said on Wednesday it has given approval for oil companies to develop 19 oil and gas fields with investments exceeding 200 billion Norwegian crowns ($18.51 billion), part of the country’s strategy to extend production for decades to come. Norway’s parliament in 2020 introduced…
