Oil giant Chevron has raised concerns of troubled global natural gas market which it observed has been more fundamentally changed for the long term by Russia’s invasion of Ukraine than the oil market. This is a warning coming from Chevron’s Chief Executive Mike Wirth on Monday, when he noted that the conflict in Ukraine and ensuing Western sanctions upended global ...

In its bid to enhance national crude oil production to surpass the 1.8million barrels per day (mb/d) quota for the country, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is expecting additional 400,000 barrels per day (b/d) from some mega projects.Although production has increased to 1.6mb/d with combined efforts of security operatives and the Nigerian National Petroleum Company Limited (NNPCL), the ...

With the delayed commencement of the over 650,000 barrels per day Dangote refinery in Lagos, Sub-Saharan Africa will continue to import about 700,000 bpd of diesel to meet its daily need, a report by S&P Global has indicated.The integrated Dangote refinery project under construction in the Lekki Free Zone is expected to be Africa’s biggest oil refinery and the world’s ...

The Major Oil Marketers Association of Nigeria (MOMAN), has frowned over lack of data infrastructure in the downstream sector of the oil and gas industry. MOMAN therefore challenged operators in the Nigerian downstream sector on the automation of their services for data generation, improve product delivery storage utilisation and profitability. Mr Clement Isong, the Chief Executive Officer of MOMAN gave ...

The Nigerian Liquefied Natural Gas (NLNG) Limited has assured that it is committed to actualising its plan of supplying its product, the LNG, to the domestic market as part of its contribution to the growth of domestic gas utilisation.The Manager, Common Facilities Assets, NLNG, Mr. Lateef Biobaku, gave the hint at a panel session in Lagos.To actualise this target, the ...

No fewer than 10 persons died on Friday following an explosion at the Trans Niger Pipeline (TNP) in Rumuekpe, Rivers. Police Spokesman in Rivers, SP Grace Iringe-Koko, who confirmed the incident in a statement to newsmen, said that rescue efforts were underway. The TNP, operated by Shell, evacuates crude from its oil fields to the Bonny Crude Oil Export Terminal. ...

Seplat Energy Plc has said the sale and purchase agreement to acquire the entire share capital belonging to Mobil Producing Unlimited, Nigeria for $1.28 million, plus up to $300 million contingent consideration, was still awaiting presidential approval.Its Chief Executive Officer, Roger Brown, made the announcement while commenting on its audited results for 2022, which recorded a rise in profit before ...

In the light of recent incidents of attacks across our business locations, the management of Ibadan Electricity Distribution Company (IBEDC) Plc would like to appeal to the public to refrain from engaging in such acts of violence against its employees and facilities.A statement signed by the Managing Director of the company, Engr. Kinsley Achife, said electricity distribution companies provide an ...

The Federal Government, on Wednesday, announced the preferred bidder for the concession of the 700 megawatts Zungeru Hydroelectric Power Plant for a fee of $70,000,251 per year for a period of 30 years.It named the preferred bidder as Mainstream Energy Solutions Limited and also announced the approval of the merger of Egbin Power Plant with KEPCO Energy Resources Nigeria Limited.The ...

The Global Cleantech Innovation Programme (GCIP) is important to Nigeria because it will enable the nation to achieve long-term visions such as cutting emissions to net zero by 2060 and the Sustainable Development Goals (SDGs) even before the 2030 deadline. Minister of Science, Technology and Innovation, Adeleke Mamora, who made the submission at the National Forum and Award Ceremony of ...