Nigerian Economic Summit Group (NESG), one of Africa’s leading think-tanks, has projected that Dangote Refinery and Petrochemical Company, set for inauguration on May 22, can create a $21 billion market for Nigeria’s crude oil. In a brief by the organisation, it further noted that the facility could meet all the fuel
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A group of investors with $1.1tn in assets under management has joined climate activist group Follow This in asking TotalEnergies shareholders to push for more ambitious targets on emissions cuts. The resolution filed for the company’s May 26 annual general meeting mirrors others which Follow This has filed for coming shareholder
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The Nigerian National Petroleum Company Limited has said a total of 339 million litres of petrol was distributed to 63 depots across the country in seven days. Data obtained from the NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority on Monday showed that the products were sent out between
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Decklar Resources Inc. and its co-venturer Millenium Oil & Gas Company Limited have announced the execution of additional crude oil sale and purchase agreements and to provide updates regarding crude oil delivery operations at the Oza Oil Field in Nigeria. Under the arrangement, the firms will deliver an additional 150,000 barrels
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The Organisation of Petroleum Exporting Countries (OPEC) yesterday confirmed that Nigeria’s oil output grew by a meagre 23,000 barrels per day in January, a significant decrease from the December 2022 production increase of about 55,000 bpd. The international oil cartel which stated this in its February Monthly Oil Market Report (MOMR),
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Shell has recorded its highest-ever profit in the energy giant’s entire 115-year history, as it benefited hugely from soaring energy prices. Shell said that its core profits skyrocketed to £68.1bn ($84.3bn) in 2022, surpassing the expectations of industry experts. This gargantuan profit haul will increase the pressure on prime minister Rishi Sunak
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NNPC Limited Tuesday officially took over OMLs 123/124 & 126/137, operated by Addax Petroleum Development (Nigeria) Limited after concluding all transaction obligations. The deal ends a 24-year production sharing contract arrangement between both parties. NNPCL in a statement by its Chief Corporate Communications Officer, Garba Deen Muhammad in Abuja said the transfer
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Researchers have found that oil and gas production could leak as much as five times more methane than the levels currently reported. A recent study from researchers at Princeton University and Colorado State University has found inaccuracies within the current method for estimating methane emissions from offshore oil and gas production
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WindFloat Atlantic, the world's first semi-submersible floating offshore wind farm, has been in operation now for two full years, according to a report by offshorewind.biz published on Friday. The 25 MW farm closed 2022 with an electricity production of 78GWh, marking a five percent increase in output compared to 2021. The structure
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A complaint against TotalEnergies by two associations for “war crimes complicity” for allegedly helping produce fuel for Russian warplanes that have bombed Ukraine has been shelved by prosecutors. The France-based Darwin Climax Coalition and Ukrainian group Razom We Stand filed the complaint in October, faulting TotalEnergies for a stake in a firm
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