Oil, Gas and Energy

Chairman of Shell Companies in Nigeria, Osagie Okubor, has said the country suffered a significant loss in oil revenue over the last year, as a result of pipeline vandalism and oil theft. Speaking at the just concluded Nigerian International Energy Summit held in…

The $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline which will support the generation of about 3,600mw of power is set for completion in the third quarter of 2023, the Nigerian National Petroleum Company Limited (NNPC) said yesterday. The scope of work of the project…

A Rivers State High Court sitting in Port Harcourt, on Thursday, has reaffirmed the order restraining Shell Petroleum Development Company (SPDC) from terminating the GSA Logistics Services Contracts handled by indigenous contractors from oil host communities in the region. According to the Court…

The Chairman of Shell Companies in Nigeria, Osagie Okunbor, on Tuesday, revealed that the international oil company discovered and removed 460 illegal connections on its Trans Niger Pipeline before the facility could be restored after it was shut down for one year. Shell…

American oil major, ExxonMobil has declared force majeure on oil lifting from several ports in Nigeria. This follows reported industrial action by the company’s in-house workers union, the company said, in a statement yesterday. This will lead to another set back to the country…

Energy company, Seplat, has said that it has provided the necessary documentation about its Chief Executive Officer, Roger Brown, to the Nigerian government.   Seplat said this on Thursday, hours after the news broke that the Federal Government has filed charges against Seplat Energy…

The Federal Government will impose $49m (N22bn) fine on oil and gas firms operating onshore for flaring 24b Standard Cubic Feet of gas valued at about N40b ($86m) between January and February 2023. According to latest gas flare data by the National Oil…

Oil marketers have written to the Federal Government over their proposal to build about 30,000 gas stations to cushion the effects of the proposed subsidy removal on Premium Motor Spirit, popularly called petrol. Nigerians are currently counting down to the June 2023 projected…

The Nigerian National Petroleum Company (NNPC) Limited says it is not aware of any “missing” N20bn in the company. The company’s spokesman, Garba Deen Muhammad, in a statement on Monday, said the company knew nothing about the payment of the sum of N20bn…

World oil prices soared Monday after several top producers led by Saudi Arabia sprang surprise output cuts that defied US calls for higher production to keep inflation down. Crude futures surged almost eight percent at one stage after multiple members of the OPEC+…