Oil major, Shell Plc’s has gone for an appeal to overturn an almost $2 billion award against the company for allegedly spilling oil in Nigeria. The energy giant is challenging a November 2020 judgment in favour of community members claiming a leak…
AP LPG terminal, a subsidiary of Ardova PLC, has commenced the construction of a 20,000 metric tonne Liquified Petroleum Gas (LPG) storage terminal in Lagos. The facility ceremony signified the official commencement of construction activities which is expected to be…
The oil giant ExxonMobil is getting serious with its target to achieving net-zero greenhouse gas emissions for its operated assets by 2050. The oil firm was responding to rising oil prices which rose to seven-year high on Tuesday amid ongoing…
A Federal High Court in Lagos has directed the Nigerian National Petroleum Corporation (NNPC), Ministry of Petroleum Resources and National Petroleum Investment & Management Respondent Services (NAPIMS) from allocating crude oil to Addax Oil Exploration Plc. Justice Tijjani Ringim held…
The Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN) has applauded the current action by the Rivers State Government to address the vexed issues of oil theft and refining of stolen crude oil and the consequent release of soot into…
The IEA raised its demand growth estimates by 200,000 bpd for both 2021 and 2022 The market is tighter than expected, the agency said, but still warned that there would be a surplus in the first quarter of 2022 In…
…Set to establish micro sales, distribution centres The Federal Government has reiterated its plans to inject 10 million cylinders of Petroleum Liquefied Gas into circulation nationwide to increase access to the commodity. The distribution of these cylinders, which is to…
Biden Administration continues to work with oil-producing countries and continues to ‘monitor’ prices in the context of global economic growth The Biden administration stands ready to deploy its tools to address the latest increase in oil prices, a spokeswoman for…
The effect of the Omicron variant on global oil demand has been weaker than expected a month ago, and the oil market is set to be well-supported throughout 2022 despite monetary tightening policies, OPEC said on Tuesday, leaving its demand…
The Board of Trustees of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned against the proposed inauguration of parallel National Executive Committee (NEC) on 18th January, 2022 in Abuja. The IPMAN Board of Trustees Secretary, Mr Tunji Adeniji…
