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Energy
TotalEnergies Shifts Drilling On Egina, Akpo To December.
TotalEnergies has said it will start a major drilling campaign on Egina and Akpo oil fields in December.
With…
Analysis: The Rise In Gas Prices Has Caused Inflation Fears For European Markets.
Another dramatic spike in natural gas prices appears to have ended any hopes that Europe's inflation battle is set…
Gas Crisis Sends Euro Back Below Parity Against Dollar.
The euro briefly fell back below parity against a robust dollar on Monday and was languishing at five-week lows;…
Oil Snaps 3-day Winning Streak On Strong Dollar, China’s Sluggish Demand.
After three days of gains, oil prices dropped considerably due to concerns that aggressive interest rate…
Power Production Was Reduced By Striking Workers To 43 MW-FG.
The recent one-day strike by workers of the Transmission Company of Nigeria crashed Nigeria’s power generation…
Blame Policymakers, Lawmakers For Oil Price Rises, OPEC Sec Gen Says.
Policymakers, lawmakers and insufficient oil and gas sector investments are to blame for high energy prices,…
Why We Can’t Generate 5,000mw Of Power – Nigeria FG
The Federal Government blamed its inability to reach the target of 5,000 megawatts of electricity generation…
Electricity Workers Suspend Strike Amid Blackout- Nigeria.
The National Union of Electricity Employees (NUEE) has suspended its nationwide strike for two weeks. The…
Nigerian President Withholds Approval Of Exxon Mobil’s Asset Sale.
Nigeria's President Muhammadu Buhari has withheld his initial approval of Exxon Mobil's (XOM. N) sale of…
U.S Gasoline Prices Fall Below $4 For First Time Since March.
The average price of U.S. retail gasoline fell below $4 per gallon on Thursday for the first time in months,…
Petroleum Minister, Timipre Sylva, Says Nigeria Loses 400,000 Barrels Per Day To…
Rising cases of oil theft which has affected Nigeria’s earning capacity in a period of high crude prices could be…
NNPC Sells N147bn Petrol, Diesel In One Month.
The Nigerian National Petroleum Company Limited said it made N147.36bn from the sale of petrol and diesel in…
Brazil’s 3R Petroleum Subsidiary Agrees On $500 Mln Loan To Pay For Potiguar…
Brazil oil company subsidiary 3R Lux agreed to a $500 million loan to pay for the country's Potiguar oil field.
…
FG Failed To Provide N100bn Electricity Subsidy – Nigeria Discos.
Electricity distribution companies on Sunday reacted officially to the takeover/restructuring of five Discos; by…
FG May Increase Gas Flaring Penalties- Nigeria.
There are indications that the Federal Government may increase gas flaring penalties as Nigeria races;…
German Inflation Rises Unexpectedly After Fall In Russian Gas Supply.
German inflation edged up unexpectedly in July after a further reduction in gas flows from Russia prompted…
FG To Increase Penalties For Gas Flaring.
The Federal Government through the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Society of…
Shell And Total Resume Their Buyback Following Record Profits.
Europe's biggest oil companies Shell (SHEL.L) and TotalEnergies (TTEF.PA) extended share buybacks; after their…
Companies May Collapse Over Energy And Currency Crisis.
An economist, Bismark Riwane, and other experts have predicted that the high cost of power and diesel will lead to…
Genex Power In Australia Receives A $220 Million Takeover Bid From A Tech…
Australian renewable energy developer Genex Power (GNX.AX) has received an unsolicited A$319 million ($220…
German Government Agrees On Bailout For Energy Supplier
The German government has agreed on a bailout for Uniper UN01, -8.24%, which reduced Russian gas imports have hit,…
High Buying Pressure On Ethereum Hits Above $1,300 On Upcoming
The expectation of the Ethereum network’s forthcoming switch to proof-of-stake is the reason for the altcoin’s…
Oil Firms Not Drilling Except NNPC, Says Kyari- Nigeria.
The Group Managing Director, Nigerian National Petroleum Company Limited, Mele Kyari, announced that the decline…
Nigeria’s 26 Power Plants’ Capacity Drops By 70%
There has been a drop in the combined generation capacity of Nigeria’s 26 power plants by 70%.A breakdown of the…
Oil Tumbles 9% On Recession Demand Destruction Fears
Oil plummeted about 9% in the biggest daily drop since March on growing fears of a global recession and lockdowns…
Oil And Gas Is Best Performing Index In HY 2022 With 58% Gain
Russia’s invasion of Ukraine has led to a sharp rise in global oil prices; amounting to more than 100 dollars per…
OPEC Faces Critical Oil Production Decision As Nigeria Gets 1.826m Bpd August…
The Organisation of Petroleum Exporting Countries (OPEC) will in August decide whether to continue its current…
Nigeria Lost N500.6Bn Crude Oil In Five Months – Investigation
Revenues accruable to Nigeria from the sale of crude oil crashed by about N500.6bn between January and May this…
FG Approves Reforms To Boost Non-Oil Revenue To N3.8 Trillion Annually.
The Federal Government through the Federal Executive Council (FEC) has approved reforms to boost Nigeria’s non-oil…
Oil Prices Take Breather After Three-Day Rally
Oil prices fell on Wednesday after rising in the previous three sessions, but it a limited loss on the view that…