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TotalEnergies will be allocating up to 40 percent of additional cash flow to share buybacks as rallying commodity prices helped it generate in the second quarter more than double cash flow from operations compared to Q2 2020. TotalEnergies reported on Thursday an adjusted net income of $3.46 billion for the second quarter of 2021, up from $129 million for Q2 ...

The Board of Directors of Nigeria LNG Limited (NLNG) has approved the appointment of Dr. Philip Mshelbila as the gas giant’s Managing Director/Chief Executive Officer. He succeeds Mr. Tony Attah. Attah will return to his parent company, Shell, on August 30, 2021 at the expiration of his five-year tenure. Attah was appointed Chief Executive Officer by the NLNG Board in ...

Shell Nigeria Exploration and Production Company (SNEPCO), operator of the Bonga Northwest oil field, has displayed a new technology known as ‘digital twin’ at SAIPEC 2021, which enables the company to operate safely on the Bonga Floating production storage and offloading (FPSO) vessel located offshore Nigeria. Bonga is the first deep water project for the SNEPCO and for Nigeria, which ...

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has assured that the ongoing 614kilometres Ajaokuta-Kaduna-Kano (AKK) gas pipeline project would be delivered on schedule, create prosperity through massive job opportunities and guarantee peace for the country. A statement by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, disclosed ...

The Department of Petroleum Resources, DPR, Eket Field Office, has appealed to operators of Liquefied Petroleum Gas in Akwa Ibom State to always conduct their businesses within the legal, regulatory framework governing oil and gas business. The Operations Controller of DPR in the State, Mr. Victor Ohwodiasa described the transfer of cooking gas from one cylinder to another (decanting) as ...

It is the fourth grid failure in 2021, and as usual the impact has been widely felt.Several Nigerian cities including the capital, Abuja, and Lagos were plunged into darkness Wednesday after the national electricity grid collapsed yet again. Electricity distribution companies announced a breakdown of the grid, the fourth this year, after extended hours of power outage experienced in many ...

The Nigerian National Petroleum Corporation spent a total of N219.4bn on oil and gas assets being developed through joint ventures with private firms as well as government priority projects in the first two months of this year. The NNPC spent N108.93bn on the JV assets and the priority projects in January while N110.47bn was expended in February. The NNPC transferred ...

Egbin Power Plc has said the total debt the Nigerian Bulk Electricity Trading Plc (NBET) owes the power generating company is presently at N388 billion. The Director of Egbin Power Plc, Mr. Kola Adesina, disclosed this yesterday, when the Senate Committee on Privatisation and Commercialisation undertook a visit to the plant in Lagos. Adesina, however warned that the huge debt ...

Eko Electricity Distribution Company (EKEDC) has urged the National Assembly to intervene in the repayment of the N21 billion outstanding debt owed the DisCo by Ministries, Departments and Agencies (MDAs). The Managing Director, EKEDC, Mr Adeoye Fadeyibi, made the appeal during a visit of the Senate Committee on Privatisation to the company on Tuesday in Lagos. The committee was led ...

As part of efforts to enhanced educational development and also encourage hands on training among primary school pupils in Science related subjects, Siemens Stiftung, Siemens Energy Nigeria in collaborations with the Nigerian Content Development and Monitoring Board (NCDMB) have kicked off the first phase of Experimento- STEM training in Yenagoa, Bayelsa state. Addressing participants at the kick –off ceremony in ...