Energy

Shell faces trial in Netherlands for alleged role in execution of Ogoni leaders

A Dutch court will today hear the first arguments in an historic case against Shell, in which the oil giant stands accused of instigating a raft of horrifying human rights violations committed by the Nigerian government against the Ogoni people in the 1990s.

Oil output drops as price stagnates

There are indications that threat to Nigeria’s N8.83 trillion 2019 budget is increasing from the oil revenue estimates as current reports show a decline in oil production level amidst price stagnation.
El Sharara Oilfield

Libyan forces claim control of nation’s largest oilfield

Eastern Libyan military forces have full control of Libya’s biggest oilfield, El Sharara, a spokesman said, in a challenge to the internationally recognized government in Tripoli.

TCN: National grid generates, transmits new 5,375mw peak

The Transmission Company of Nigeria (TCN) has said that the National Grid successfully transmitted a new generation peak of 5,375MW on February 7.

Top Mobil staff drags company to court, unveils plot to sack Nigerians

Mr Paul Arinze, an official of Mobil Producing Nigeria Unlimited, on Monday, asked a National Industrial Court in Lagos, to suspend a “Special Review Audit” that is probing the affairs of the Public and Government Affairs Department (P&GA) of the company.

Fire: EEDC laments destruction of installation, power cut

The Enugu Electricity Distribution Company (EEDC) has decried the destruction of some of its electricity installation by the petrol tanker fire accident which occurred in Awka, Anambra, on Saturday.

Oil prices fall as US rig count rise, trade concerns

Oil prices fell by around 1 per cent on Monday as drilling activity in the United States, the world’s largest oil producer, picked up and financial markets were pulled down by trade concerns.
Femi Otedola

Majority shareholders of Forte Oil approve sale of power unit to Otedola

Majority shareholders of Forte Oil PLC have approved plans by Nigerian oil mogul, Mr Femi Otedola, to acquire the power subsidiary of the company
Gazprombank

Venezuela shifts oil revenue to Russia’s Gazprombank

Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia’s Gazprombank AO, according to sources and an internal document seen by Reuters on Saturday.

Big oil companies record enormous profits

The world’s top oil companies, the “supermajors” — US firms Chevron and ExxonMobil, Britain’s BP, Anglo-Dutch Royal Dutch Shell and Total of France – earned nearly $80 billion in net profits last year.
Maikanti Baru

NNPC chief inaugurates $60 million Egbaoma gas plant in Delta

The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, Saturday inaugurated Egbaoma Gas Processing Plant (EGPP), which cost a whopping sum of $60 million.

Oil prices slip on economy fears

Oil markets fell on Friday, pulled down by worries over a global economic slowdown, although Organisation of the Petroleum Exporting Countries (OPEC)-led supply cuts and U.S. sanctions against Venezuela provided crude with some support.

Federal government, NNPC committed to gas-based industrialisation

The Nigerian National Petroleum Corporation (NNPC) said it was committed to pursuing the federal government’s aspiration of aggressively deploying the nation’s vast gas resources for economic growth.

Oil prices drop on rising US crude supply, but OPEC cuts support

Oil prices fell on Thursday after US crude inventories rose and the country’s production held at record levels, but OPEC-led supply cuts and Washington’s sanctions against Venezuela supported markets.

Oil prices fall with US record output, inventory

Rising U.S. crude inventories and record production levels knocked down oil prices Thursday, but OPEC-led supply cuts and Washington’s sanctions against Venezuela stabilised markets.

Court issues warrant of arrest on TCN chief

The Chief Magistrate Court in Wuse Zone two, Federal Capital Territory, Abuja, has issued warrant of arrest on the the Managing Director of Transmission Company of Nigeria (TCN), Engineer Muhammed Usman Gur, failure to appear before it to answer allegation of administrative irregularities and high handedness against him.

NNPC increases gas supply to power, records monthly trading surplus of ₦2.06 billion

A total of 735 Million Standard Cubic Feet of gas per day (mmscfd) was delivered to gas fired-power plants in November 2018 compared with October 2018 where an average of 627mmscfd was supplied, a release by the Nigerian National Petroleum Corporation Group General Manager, Group Public Affairs Division, Ndu Ughamadu, said in Abuja.
BP

London stocks jump on weak pound, strong BP profits

London’s stock market rallied Tuesday to a new two-month peak, supercharged by a Brexit-hit pound and energy giant BP’s surging annual profits, dealers said.

Recent Stories

Two suspected traffickers nabbed as 164 Nigerians return from Libya

Two suspected human traffickers were on Friday apprehended for trafficking some Nigerians to Libya with the promise of taking them to Europe.

China: We believe Nigeria can manage its internal affairs

The Chinese government has expressed its readiness to continue to support Nigeria to manage its own internal affairs without any interference.

CP: Police will apply law against ballot box snatchers

The police commissioner in Adamawa State, Audu Madaki, has said his men will follow the dictates of the Electoral Act in handling election-related offences that may arise this weekend.
Mohamed Salah

Mo Salah calls on Liverpool to ‘win, win, win’

Mohamed Salah admits it is “a dream to win the Premier League” and has called on Liverpool to “win, win, win” as they enter a “very big week” in their 2018-19 campaign.

Oil prices fall as U.S. crude output hits record 12 million bpd

Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East-dominated producer club OPEC to withhold supply and tighten global markets.