Oil prices slipped yesterday, paring gains from the previous session, as fears of a global recession weighed on the market even as supply remained tight amid lower OPEC output, unrest in Libya and sanctions on Russia. Brent crude futures for…
Nigeria recorded a decline of 80,000 bpd, where outages and maintenance curbed output. Refinitiv Figures put exports in June down by at least 100,000 bpd, as did two other sources in the survey who track the flows. This decline was…
The Enugu Electricity Distribution Company (EEDC) says more than 20 transformers have been attacked by vandals across the company’s franchise network within the South-East in the past three weeks. The Head of Corporate Communications, EEDC, Mr Emeka Ezeh, said in…
Following publication of BP’s annual Statistical Review, each year Rystad Energy releases its own analysis of the global energy landscape to provide an independent, data-based comparison and evaluation. Continuing the trend from previous years, Rystad Energy’s 2022 review shows a…
OPEC’s crude oil production fell in June compared to May, due to outages in Libya and Nigeria, and the 10 cartel producers bound by the OPEC+ pact lifted their combined production by just 20,000 barrels per day (bpd) last month,…
The oil alliance OPEC+ is increasing its daily output by 648,000 barrels in August, the group announced after an online meeting on Thursday. It means OPEC+ is sticking to a plan of moderate increase in spite of growing calls to…
By Uthman Salami The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has revealed that over 200 illegal refineries are operating across the country, with no government-owned refinery working at the moment regrettably. The…
The Federal Government on Thursday in Ogbekor community, Orhionmwon Local Government Area in Edo, unveiled the Duport Midstream Company Ltd. Energy Park, a modular refinery. It is a 10,000 barrels per day refinery expected to begin 2,500 bpd production by…
Oil major Shell said on Thursday it had put on hold plans to sell its onshore oil assets in Nigeria, complying with a Supreme Court ruling that said it had to wait for the outcome of an appeal over a…
ExxonMobil has warned that people will be made to “pay a high price” in this rush to renewables without providing the energy the society currently needs, Exxon’s chief executive Darren Woods told CNBC’s David Faber in an interview. Exxon joins…
