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EU tries to unlock deal to quit contentious energy investment treaty

*European Union flags flutter outside the EU Commission headquarters, in Brussels, Belgium, February 1, 2023 REUTERS/Yves Herman Brussels — The European Commission on Friday urged member states not to oppose reforms to an international energy […]

NNPC’s UK subsidiary grows PAT by 251% to £53,725

*Headquarters of the Nigeria National Petroleum Company Ltd, Central Business District, Garki, Abuja. Ike Amos Dublin, Ireland — NNPC Trading Services (UK) Limited, the United Kingdom subsidiary of the Nigerian National Petroleum Corporation, announced a […]

Nigeria oil sector sees 43% decline in foreign capital

Ike Amos Dublin, Ireland — A significant decline was recorded in foreign capital inflow into the Nigerian oil gas industry in 2023, as investments into the sector dropped sharply by 42.84 per cent to $3.64 […]

Ample supply to hold down oil prices as Middle East risks pale: Reuters poll

“Disruption in the Red Sea has less impact because there are alternative routes available,” said John Paisie, president of Stratas Advisors, referring to attacks on shipping by Yemen’s Houthis. “It is unlikely that the volumes […]

We facilitate IOC’s divestment, not hinder the process – NNPC

*Mele Kyari, NNPC GCEO Oritsegbubemi Omatseyin Lagos — The Nigerian National Petroleum Company Limited, NNPC, as the largest partner to all the oil-producing companies in Nigeria, has assured that its role in the divestment of the International Oil […]

OPDS impounds vessels with 500,000 litres of AGO in Rivers

*MV King James impounded by the OPDS with 400,000 litres of AGO Mkpoikana Udoma Port Harcourt — The Joint Task Force, Operation Delta Safe operating in the Niger Delta, has arrested 17 suspects and impounded […]

Oil eases as Fed caution, stock build outweighs OPEC+ news

*Oil prices New Delhi — Oil prices pulled back in Asia on Wednesday as the prospect of a delay in the U.S. rate-cutting cycle and a rise in U.S. crude stocks offset a boost on […]

Declare state of emergency on energy sector, NLC tells Tinubu

*NLC president, Joe Ajaero, speaking during the protest by workers …Demands de-dollarisation of gas sale to power stations Mkpoikana Udoma Port Harcourt — The organised labour, under the auspices of the Nigeria Labour Congress, NLC, […]

Shell deploys unmanned vessel for pipeline route survey in Nigeria

*SPDC’s Chief Surveyor and Head, Offshore Survey Operations, Steve Keedwell. Lagos — The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has deployed an Uncrewed Surface Vessel (USV) for a pipeline route survey in the […]

Texas oil production to to exceed 5.6mb/d in 2024

*Crude oil processing facility. – To break all-time records Lagos — According to data from the US Energy Information Administration, December saw the all-time production record in the USA surpassed with more than 13.3 million […]