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EFCC grills 10 suspects over crude stolen from ExxonMobil oilfield

*EFCC operatives. Mkpoikana Udoma Port Harcourt — The Economic and Financial Crimes Commission, EFCC, says it has commenced investigation of 10 suspected oil thieves, who were arrested on board a vessel laden with 100 metric […]

Aramco hikes dividend 30% to $98bn despite drop in profit

– Profit drops by nearly a quarter– Base dividend up 4% year on year– Capex seen at $48-58 bln in 2024– Share sale is govt decision – CFO Dubai — Saudi Arabia’s state-owned oil giant […]

Nigeria introduces new measures to revamp oil and gas investment

*A drilling rig operating in Soku, the restive Niger Delta. Lagos — Nigeria introduced new measures aimed at revamping investment in the country’s oil and gas sector. President Bola Tinubu on Wednesday signed executive orders […]

Eni makes “significant” oil and gas discovery offshore West Africa

* President of Cote d’Ivoire, Alassane Ouattara and the Chief Executive Officer of Eni Claudio Descalzi. Abidjan — The President of the Republic of Côte d’Ivoire Alassane Ouattara and the Chief Executive Officer of Eni […]

‘US drillers cut oil and gas rigs for first time in three weeks’

*U.S. Rig count drops. New York — U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), […]

China’s CNOOC makes 100m ton oilfield discovery in South China Sea

Beijing — Chinese state-owned oil and gas giant CNOOC Ltd (0883.HK), opens new tab has discovered a new reserve in the South China Sea containing over 100 million tons of oil equivalent proved in-place, the […]

China’s crude oil imports rise on-year, but softer trend remains

*A general view of a crude oil importing port in Qingdao, Shandong province, November 9, 2008. REUTERS/Stringer/File Photo Launceston, Australia — China’s imports of crude oil rose in the first two months of the year […]

Heirs Energies powers Nigeria’s economy with domestic gas supply

Heirs Tower, Ajose Adeogun, Victoria Island, Lagos. Oritsegbubemi Omatseyin Lagos — Heirs Energies, Africa’s leading integrated energy company, has announced a further expansion of its gas supply business, supplying the recently commissioned 188 MW power […]

Libya’s uphill struggle to attract oil investment

*Libyan oil fields Tripoli — Libya, once a major player in global oil markets, faces challenges in realizing its oil potential due to a tumultuous history characterized by political instability, sanctions, and civil unrest. At […]

Shell faces calls to safely decommission old assets before Nigeria exit

*Countless pockets of legacy oil spill from the operations of the Shell Petroleum Development Company Nigeria Limited dot the landscape of the Niger Delta. Lagos — Nigeria needs to ensure that Shell (SHEL.L), opens new […]