OPEC daily basket price stood at $101.19 a OPEC
The price of OPEC basket of thirteen crudes stood at $101.19 a barrel on Thursday, compared with $104.17 the previous day, according to OPEC Secretariat calculations .
Energy
Beacon Power closes $2.7M seed round to boost electricity in Sub-Saharan Africa
An energy tech company providing data and grid management solutions to help Africa’s power sector distribute electricity more efficiently, Beacon Power Services (BPS), has announced the closing of a $2.7 million round of seed financing on Friday. The round was…
NNPC sustains gas delivery to power generation companies
The Nigerian National Petroleum Company Limited, NNPC, said it supplied a total of 594 million standard cubic feet of gas per day (mmscfd) to gas-fired power plants in the month of October 2021 as against the 557 mmscfd supplied the…
Shell shuts floating crude oil storage facility over water leakage
A Shell Floating Production Storage and Offloading (FPSO) vessel operating off Bayelsa coastline, has been shut down due water leakage, an official has said SPDC Spokesman, Mr Michael Adande who disclosed this in a statement on Thursday, said the vessel…
NLNG loses $7bn revenue over gas shortage challenges
The Nigeria Liquefied Natural Gas (NLNG) Limited says it has lost almost $7 billion revenue so far in 2022 due to shortage of gas supply. The revenue loss can be attributed to the increasing security challenge which has hit the…
NARTO assures Abuja residents of fuel supply
The Nigerian Association of Road Transport Owners (NARTO), has allayed fears of fresh scarcity of Premium Motor Spirit (PMS), also known as petrol in Abuja and environs. NARTO’s President, Alhaji Yusuf Othman, assured Nigerians in an interview NAN on Thursday…
Energy transition: Seplat Energy advocates ‘just transition’ for Africa
Leading indigenous energy company, Seplat Energy Plc has said its greatest business opportunity ahead of it is to supply the right mix of energy to support Nigeria’s growth. In doing so, the company said it remained committed in making positive…
NCDMB, SPE agree to deepen collaboration on local content
The Nigerian Content Development and Monitoring Board (NCDMB) has promised to deepen its collaboration with the Society of Petroleum Engineers (SPE) towards domesticating the technologies that are currently deployed to operate the energy industry. The Executive Secretary of NCDMB, Engr.…
Ikike field will help Nigeria bridge production gap – TotalEnergies
TotalEnergies on Wednesday said the commencement of production from its Ikike field would help to bridge Nigeria’s oil production gap which had declined in recent times. Mr Mike Sangster, the Managing Director, TotalEnergies E&P Nigeria, made this known at the…
Cydene Energy launch social inclusive app to boost LPG adoption in Nigeria
By Ibiyemi Mathew Cydene Energy has launched an app that will boost the adoption of Liquified petroleum Gas (LPG) across households in Nigeria. Delivering a welcome address at the product launch of the Cydene Express Mobile App in Lagos, Skalid…