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US drillers cut oil and gas rigs for third week in a row

The oil and gas rig count, an early indicator of future output, fell by two to 603 in the week to May 10, the lowest since January 2022. , , Baker Hughes said that puts […]

Nigeria says oil theft aided by small & light weapons proliferation

*Minister of Defence, Muhammed Badaru Abubakar. Mkpoikana Udoma Port Harcourt — The Minister of Defence, Muhammed Badaru Abubakar, has opined that the activities of oil theft, illegal crude oil refining and kidnapping are aided by […]

Oil benchmark Brent above $84 on perky demand signals

*Oil prices London — Global benchmark Brent hovered above $84 a barrel on Friday after data this week signalled growing demand in the U.S. and China, the world’s two largest crude users, while festering conflict […]

Crude Oil Demand Forecast by OPEC

Crude Oil Demand Forecast by OPEC As the global economy continues to recover from the impact of the COVID-19 pandemic, the Organization of the Petroleum Exporting Countries (OPEC) plays a crucial role in forecasting crude […]

100 African Startuppers to be rewarded as TotalEnergies launch Startupper of the Year Challenge

Oritsegbubemi Omatseyin Lagos — Following the success of the first three editions, TotalEnergies has launched the 4th edition of the Total Energies Startupper of the Year Challenge. This project aims to support young innovative entrepreneurs. The 4th […]

‘NNPC Ltd will continue to develop oil & gas infrastructure’

*A general view of the newly rebranded NNPC Mega Gas Station in Abuja, Nigeria August 30, 2022. REUTERS/Afolabi Sotunde. – For enhanced operations Mkpoikana Udoma Port Harcourt — The Nigerian National Petroleum Company Ltd, NNPCL, […]

$1.09bn paid by Shell Nigeria in taxes, royalties in 2023

*Pix cap: Mr. Osagie Okunbor, Managing Director, The Shell Petroleum Development Company of Nigeria (SPDC) and Country Chair of Shell Companies in Nigeria. Lagos — Shell exclusively paid a total of $1.09 billion in corporate […]

Nigeria to unveil 2024 licensing round details at IAE Forum

*Offshore Nigeria Paris, France — The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, will showcase its 2024 licensing round at a dedicated “Invest in Nigeria” session at the Invest in African Energy forum in Paris next […]

NNPC cautions against panic buying

*Vehicular queues at a fuel station in Port Harcourt, Rivers State. …Says 30-days PMS sufficiency intact Mkpoikana Udoma Port Harcourt — As the current fuel scarcity in parts of the country continues to bite harder, the […]

NUPRC affirms commitment to investor friendly oil bid round

*Gbenga Komolafe with Heineken Lokpobiri at the ongoing Offshore Technology Conference in Houston, Texas. Kunle Kalejaye Houston, Texas — In preparation for the next oil bid round, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has […]