Author: Chigozie Ikpo

Seplat Energy’s 2023 9M gross profit rises by 46.9% to N245.6bn Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, announces its unaudited results for the nine months ended 30 September 2023, recording a rise in revenue by 31 per cent to N478.1bn…

U.S. Crude Exports Fall As the U.S. sees less crude imports, it has exported less oil to Europe. U.S. crude exports to Europe fell to 1.86 million bpd in September and 1.84 million bpd in August, from 2.01 million bpd in July, Kpler data showed. Lower exports to Europe impacted Brent benchmark crude futures prices,…

Finland Increases Risk Assessment for Gas Supply Due to Pipeline Breakdown Finland’s National Emergency Supply Agency has confirmed an increased risk assessment for gas supply security in the country due to damage to the Balticconnector gas pipeline earlier this month. [custom-related-posts title=”Related Posts” none_text=”None found” order_by=”title” order=”ASC”] This damage will result in the loss of…

Equinor Shares Rise As Profit Beats Forecast Equinor this weekend, beat third-quarter profit expectations on strong energy trading and said it had overcome disruptions that hampered oil and gas output, boosting its shares. The Norwegian energy producer lowered its 2023 forecast for oil and natural gas output to 1.5% growth from 3% but said this…

Norway’s Aker BP Q3 Profit Beats Expectations Aker BP, a Norwegian oil group partly owned by BP, has reported better-than-expected operating profit for the third quarter. While the earnings before interest and tax declined to $2.62 billion from $3.89 billion compared to the previous year, it remained above the forecast of $2.46 billion, as per…

NSC, terminal operators, agents agree on storage charges The Nigerian Shippers’ Council (NSC) has successfully resolved disputes over storage charges at the nation’s seaports. In a meeting conducted at the NSC headquarters in Apapa, the Council, along with freight forwarders, have also pledged their support to terminal operators in improving service efficiency at the ports….

OTL Resonates New Beginnings in Oil and Gas  – Aduda Speaking in his Goodwill Message at the OTL Africa Downstream Energy Week, Gabriel Aduda Permanent Secretary, Ministry of Petroleum Resources, said it is a gathering that epitomizes essence of the industry. “The theme for this year, “Energy, Synergy, and New Beginnings,” strikes a chord in…

Afreximbank, Torxen Energy Resources sign $75m DA for PPL 241 Pan-African supranational multilateral financial institution the African Export-Import Bank (Afreximbank) and exploration and production company Torxen Energy Resources signed a $75 million development agreement for Petroleum Production License (PPL) 241, offshore Nigeria. The deal was signed during the first day of African Energy Week (AEW)…