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Oil prices fall 1% on Israel-Hamas ceasefire talks, U.S. inflation concerns

*Oil prices Beijing/New Delhi — Oil prices were down 1% on Monday, erasing gains from Friday as Israel-Hamas peace talks in Cairo eased fears of a wider conflict in the Middle East and U.S. inflation […]

FRSC reveals cause of petrol tanker fire in Rivers

*Scene of the fire explosion. Mkpoikana Udoma Port Harcourt — The Federal Road Safety Corps, FRSC, has identified the cause of the weekend fire disaster which claimed five persons including a pregnant woman, and over […]

‘TotalEnergies looking at primary listing in New York’

*Bull in front of the NYSE. Paris — French oil major TotalEnergies is “seriously” looking at a possible listing in New York, Chief Executive Patrick Pouyanne told analysts on Friday, to move closer to a […]

Mexico’s Pemex Q1 net profit plummets 92%

Pemex also reported revenues of 405.9 billion pesos for the January-to-March period, down 3% from the year before, driven mainly by a drop in crude prices. Its financial debt was $101.5 billion at the end […]

Phillips 66 misses first-quarter profit estimates on weaker margins

News wire — Phillips 66 missed quarterly profit estimates due to a decline in refining margins led by underperformance at its Gulf Coast operations. Refiner margins have scaled back from the peaks achieved after Russia’s invasion […]

Nigeria loses 300,000b/d to oil theft, says Speaker Abbas

*Speaker of the House of Representatives, Hon. Tajudeen Abbas. Mkpoikana Udoma Port Harcourt — The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has announced that Nigeria loses an estimated 300,000 barrels of crude […]

Stranded cargo shows credit challenges at Nigeria’s Dangote refinery

*The Dangote Refinery Houston — Chinese state energy major PetroChina has been waiting to unload a cargo of U.S. crude at Nigeria’s giant new refinery for nearly a month due to payment issues, according to […]

Compel oil operators to seal deactivated wellheads, Naval Chief tells NNPC

*An oil well-head at a remediation site in Korokoro, Tai LGA of Rivers State. Mkpoikana Udoma Ogalla has also advocated the use of technology in the monitoring of active and functional oil wellheads, saying the […]

Nigeria must invest in fossil fuel to finance energy transition

*Heineken Lokpobiri Mkpoikana Udoma Port Harcourt — The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, says Nigeria and Africa need more investment in fossil fuel exploration to guarantee energy security and finance energy […]

‘Ensure Shell restores N/Delta environment to pre-oil exploration’

Port Harcourt — The Centre for Environment, Human Rights and Development, CEHRD, has urged the Federal government to prevail on Shell, to restore the Niger Delta environment to the way it was pre-oil exploration activities […]