India’s Largest Oil and Gas Company to invest $12 Billion in Renewables Indian state-held oil and gas explorer, Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas producer in the country, is looking to boost its renewable energy portfolio and plans $12 billion in investment in green projects. ONGC looks to have…
Asian Oil Imports Set For a Rebound in May Crude oil imports into Asia this month are expected to rise by 8.6% on the month as refineries in China and India exit maintenance season, Reuters’ Clyde Russell reported today, citing data from Refinitiv. The rebound follows a decline in Asian crude imports in April when…
Kazakhstan and China Discuss Expanding Oil Pipelines Kazakhstan’s state oil and gas firm KazMunayGas and China National Petroleum Corporation (CNPC) are discussing the possible expansion of two oil pipelines, KazMunayGas officials have told Russian news agency Interfax. The Kenkiyak-Atyrau and Kenkiyak-Kumkol oil pipelines could see their throughput raised, which could lift the volumes of Kazakhstan’s…
MOSOP Flays NEPL over Planned Oil Resumption in Ogoniland The Movement for the Survival of the Ogoni People, MOSOP has accused the NNPCL, Newcross Exploration & Production Limited (NEPL) of plans to forcefully resume oil production in Ogoni without addressing legacy issues including community concerns for development and the environment. NPDC, a subsidiary of the…
CNL Decries the Circulation of False Recruitment Information Chevron Nigeria Limited (“CNL”), operator of the Nigeria National Petroleum Company Limited (“NNPCL”) and CNL Joint Venture, has dissociated itself from all false job adverts and offers published in newspaper, web site, email, poster, handbill or any other medium. The company alerted members of the public to…
Saudi Aramco to Develop 400 mcf per day Iraqi Gas Field – Iraq Oil Minister Saudi oil giant Aramco will develop a gas field in Iraq that could produce more than 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdel-Ghani said recently. Aramco will invest and develop the Akkas gas field…
Fall in LNG Price Attracts Emerging Market Buyers The decline in LNG prices has recently attracted buyers from emerging economies in Asia and South America who were unable to afford sky-high prices last year. Southeast Asia and Latin America were the biggest buyers of spot LNG for a second consecutive quarter in the first quarter,…
Zungeru Hydro Power Begins Operation, Supplies 700MW to National Grid– Power Minister The $1.2 billion Zungeru Hydro station has commenced operations and is supplying 700 megawatts, MW, of power to the national grid. Disclosing this in Abuja, the Minister of Power, Engr Abubakar Aliyu, said the plant was hooked onto the national grid after two…
UK Expected To Win Battle With Spain For Jaguar-LandRover EV Gigafactory The UK is set to win a battle with Spain for the production of a multi-billion pound Jaguar Land Rover (JLR) electric vehicle battery plant, which could create up to 9,000 jobs. The report, revealed by the BBC today, says although a deal is yet to…
11 PLC Holds its 45th AGM …Company’s profit after tax grew by 200 per cent to N18 billion in 2022 as against N6.08 billion in 2021. Foremost Nigeria downstream company, 11 PLC, held its 45th Annual General Meeting (AGM) which has been growing in leaps and bounds over the years. The event offers a veritable…