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U.S., Brent crude futures fall by $1 a barrel on stronger dollar

*North Sea Brent oil – U.S. crude stockpiles fall for fourth straight week – EIA– Mixed Chinese data, possibly weaker winter demand weigh– Rising oil output from Iran, Venezuela also caps prices Houston — U.S. […]

Aramco boosts dividend as Q2 profit drops 38% to $30.1bn

*A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo – Group to pay performance-linked dividend for six quarters– First additional payout of $9.87 […]

NNPCL says Eni unit did not obtain its consent in Oando sale

*Nigeria Agip Oil Company. London — Nigerian state oil firm NNPC Ltd says a subsidiary of Italy’s Eni did not obtain its consent prior to announcing a deal to sell onshore oil assets to local […]

Again, OPDS razes vessel with 20,000 litres of AGO in Rivers

*MV Ofuoma set ablaze by operatives of OPDS offshore Rivers State on Wednesday. Mkpoikana Udoma Port Harcourt — The Joint Military Taskforce operating in the Niger Delta, codenamed Operation Delta Safe, has again destroyed and […]

Saudi Arabia to extend voluntary cut of 1mb/d until 2024

*Saudi Aramco’s Ras Tanura Sea Island Terminal. Lagos — Saudi Arabia on Tuesday extended its 1-million-barrels-per-day voluntary crude oil production cut until the end of the year, according to the state-owned Saudi Press Agency. The […]

TotalEnergies inaugurates Absheron gas field in Azerbaijan

*Patrick Pouyanne, Chairman and Chief Executive Officer, TotalEnergies Lagos — TotalEnergies, a global multi-energy company, has inaugurated the Absheron gas field in Azerbaijan, whose first development phase started production in early July 2023 and is […]

ADNOC harnesses renewable geothermal energy in the UAE

News wire — As the global demand for energy rises, The United Arab Emirates is being affected especially hard as a result of its rapidly growing economy. The country’s National Energy Strategy 2050 aims to […]

Nigeria demanded separation of its crude oil from condensate output 6yrs ago

*Mele Kyari – Mele Kyari’s disclosure rather disingenuous Lagos — In a bid to obtain more favourable quota allocations from the Organization of Petroleum Exporting Countries, OPEC, Nigeria had 6 years ago embarked on a […]

Eni to sell Nigerian oil and gas unit NAOC to Oando

*Crude oil from Ogboinbiri Deep-9 facility operated by NAOC flowing into the Apoi Creek London — Italian energy group Eni has signed an agreement to sell its unit Nigerian Agip Oil Company, NAOC, to Nigerian […]

TotalEnergies Upstream Nigeria appoints Matthieu Bouyer as MD/CE

*Matthieu Bouyer Lagos — Mr. Matthieu BOUYER has been appointed the Managing Director/Chief Executive of TotalEnergies Upstream Companies in Nigeria and representative of TotalEnergies Company in Nigeria effective August 21, 2023. A graduate of the […]