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Another oil spill from Shell facility rocks Rivers community

*Oil spill impacted farm Mkpoikana Udoma Port Harcourt — Fresh oil spill from a facility operated by the Shell Petroleum Development Company of Nigeria Limited, SPDC, has again rocked Eteo community in Eleme Local Government […]

NSCDC to stamp out illegal oil bunkering through intelligence

*Newly deployed Commandant of NSCDC in Rivers State, Basil Igwebueze Mkpoikana Udoma Port Harcourt — The newly deployed Commandant of the Nigeria Security and Civil Defence Corps in Rivers State, Basil Igwebueze, has affirmed his […]

‘Russia losing out to OPEC+ due to different export structure’

Chief Executive of oil producer Rosneft Igor Sechin attends a meeting with Russian President Vladimir Putin at the Novo-Ogaryovo state residence outside Moscow, Russia February 15, 2021. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS/File Photo – Sechin proposes […]

Oil slips as China benchmark rate cuts smaller than expected

*Falling oil prices. Tokyo/Beijing — Oil prices slipped on Tuesday after China cut benchmark lending rates less than some expected, sowing further concern over the oil demand outlook in the world’s largest crude importer. Brent […]

Ambiguous reporting on Nigeria’s deepwater fields

Hector Igbikiowubo Lagos – Oil and gas industry observers have expressed huge concern over what they have described as “ambiguous reporting on Nigeria’s crude oil production over the years”, which has created room for all manner […]

Nigerians initiate class action lawsuit to recover $533m oil revenue

*Crude oil vessel. – Says 2.4mb of oil illegally exported to the US between 2011 and 2014 Lagos — A group of Nigerians working across borders have initiated moves to institute a class action lawsuit […]

Nigerian President advised to sell state oil assets

*President Bola Tinubu Lagos — Nigeria’s state energy company should sell off assets including stakes in oil blocks to raise billions of dollars, a report prepared for the country’s new president proposes. The Nigerian National […]

Russia can meet domestic gasoline demand, energy minister says

*Nikolai Shulginov, Russia’s Energy Minister Moscow — Russia’s energy minister Nikolai Shulginov said on Friday that there was enough gasoline to meet Russian domestic demand, downplaying the possibility of restrictions on exporting the fuel. Last […]

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

*US rig count News wire — U.S. energy firms this week cut the number of oil and natural gas rigs operating for a seventh week in a row for the first time since July 2020, […]

Oil heads for weekly gain as supply cuts balance demand concerns

*Oil prices – China’s May refinery runs hit second-highest total on record– Potential supply deficit in focus as OPEC+ cuts kick in– Russia says ‘realistic’ for oil prices to reach $80/bbl– Bank of England expected […]