Oil And Gas

A group of civil society organisations comprising ActionAid Nigeria, BudgIT, Centre for Social Justice and Christian Aid have called on the federal government to urgently end the calamitous crude oil theft in the delta region and safe the…

US President, Joe Biden has called on oil companies to charge less for petrol at the pumps. Although US petrol prices have fallen from the highs of this summer, they are clearly still weighing on Mr. Biden. “Last month, the price of oil…

European Powers have vowed to get to the root the mysterious leaks on Baltic Sea gas pipelines that prompted suspicions of Russian sabotage. European Union’s top diplomat, Josep Borrell, said available information suggested a…

A new government report has said that the value of Egypt’s natural gas exports has increased 13-fold in the last eight years.The report published by the Egyptian Cabinet’s Media Centre, said the country exported $8 billion worth of natural…

The President of the Senate, Ahmad Lawan has inaugurated an ad hoc Committee to investigate the non compliance with the Petroleum Industry Act and the Oil Mining Lease.The seven-member panel is headed by the Senate Deputy Chief Whip,…

Agency sources said yesterday that Russia is likely to propose at the next OPEC+ meeting that the group cut 1 million barrels per day from the group's collective output. The next OPEC+ meeting will be held on October 5, which will…

Leaders of Denmark, Poland and Norway yesterday launched the Baltic Pipe natural gas pipeline linking the three countries and the Baltic Sea. The leaders hailed the new gas link as a crucial move to reduce Europe’s dependence on Russian…

Global-effect developments in Europe since the year have triggered a surge in LNG prices. And experts say a major, yet weird, outcome is that the international market for the fuel has concentrated in the hands of several large players,…

Libya is getting set to outwit Algeria in the proposed Nigeria/Niger/Algeria gas pipeline to Europe. Libyan officials have confirmed that they have opened discussions with Nigeria petroleum ministry officials on the new proposal. Last…

……..China leads in employment generation followed by EU and BrazilA new report has said that jobs in the renewable energy sector rose about 6% in 2021, despite supply chain challenges related to the coronavirus pandemic.The report by the…

On the back of heightened concerns about slowing economic growth and recessions looming, global oil prices dipped by 5% early last weekend, with the U.S. benchmark slumping to the lowest level since January. As of 10:06 a.m. ET on Friday,…

Nigeria’s oil output was at the lowest since 1990 as its crude oil production fell below 1 million barrels per day (bpd) in August 2022. And data from the Organisation of the Petroleum Exporting Countries in early September showed that…

………Total Subsidy Spent This Year Stands At N2.568trn The Nigerian National Petroleum Company has informed that cost of Nigeria's fuel subsidies rose to N525.714bn in August 2023.The figure brings the total spent this year alone to…

Six international oil companies (IOCs) are expected to pay N380.04bn this October as proceeds from the sale of domestic crude oil. The NNPC Limited which made this known in its monthly presentation to the Federation Account Allocation…

Russian president, Vladimir Putin, has ordered nearly 100% of Russia’s male energy sector employees to present themselves at recruitment offices. The ministry of energy in a letter asked those receiving the letter, all companies in the…

Report shows that China is enjoying a windfall from the purchase of Russian oil, as they reap the benefits of a plunge in European buying, and tumbling prices for Russian oil. According to data from the Chinese General Administration of…

Fire from a gas pipeline explosion in the Mexican state of Tabasco late on Tuesday has led to evacuation of all workers the Paredon Hydrocarbon Separation Station.The pipeline belonged to Mexico's state-owned oil firm Pemex. There were no…

Thousands of people turned into the streets in Brussels yesterday protesting against soaring electricity prices and general cost of living.The protests in the Belgian capital followed a similar protest the day before in Slovakia, and…

The African Development Bank (AfDB) Group has approved a $20 million concessional fund to support the second phase of the Covid-19 Off-Grid Recovery Platform (CRP).The CRP is a blended finance initiative to unlock private capital for…

President Muhammadu Buhari has restated the commitment of the his administration towards the successful inplementaion of the recently launched Energy Transition Plan.Speaking in New York on Wednesday, Buhari said he intend to ensure that…