Petrobras management under ‘worrying’ political pressure Says Union Petrobras (PETR4.SA) workers union FUP on Tuesday lashed out against alleged “political actions” aimed at pressuring the state-run Brazilian oil company’s top management, saying in a statement they were “worrying” and would weaken the firm. FUP’s remarks come a day after Reuters reported, citing sources, that officials in the…
Report Reveals Federal Government’s $16 Trillion Loss to Gas Flare Over a Decade Over 10 years, from 2012 to 2022, the Federal Government has incurred an estimated loss of approximately $16 trillion due to natural gas flaring, according to the Energy Institute’s 72nd edition of the ‘Statistical Review of World Energy 2023.’ A breakdown of…
Bankrupt Oil Company Leaves Maritime Customers in a Precarious Situation The trucks responsible for transporting fuel throughout Halifax are currently inactive, parked behind the Maritime Fuels building in Dartmouth, Nova Scotia. The company, headquartered in Nova Scotia, filed for bankruptcy protection last week. “There are thousands of Nova Scotians that have paid for what they…
Ekiti State Collaborates with Ministry of Solid Minerals for Mutual Economic Advancements Ekiti State has initiated a collaborative venture with the Ministry of Solid Minerals Development as part of its efforts to enhance socio-economic development. The goal of this partnership is to harness the plentiful solid mineral resources within the state, promoting economic growth and…
Anticipated Decline in Africa’s Oil Production Forecasted for the Coming Year According to a recent report by the African Energy Chamber (AEC), Africa’s oil production is anticipated to experience a gradual decline in 2024. The Executive Chairman of the African Energy Chamber, NJ Ayuk, has predicted a “relative calm” in the global oil market for…
Fire still burning at OML95 Oilfield 42 Months After Initial Explosion The fire that broke out in May 2020 on the Ororo-1 Well, a marginal field within Chevron Nigeria Limited’s operated OML95 in Ilaje, Ondo State, is still reportedly raging over 42 months later. Despite initial claims that the fire had been stopped after six…
Ruptures reported in Agip/Oando gas pipeline A gas explosion originating from a pipeline jointly operated by the Nigerian Agip Oil Company and Oando Plc has shaken Omoku town in the Ogba/Egbema/Ndoni Local Government Area of Rivers State, releasing toxic fumes into the atmosphere. The incident, which began yesterday near Grace Orphanage Home off Egbada Road…
Anticipated Trends in the Oil Market and Their Implications for Africa As the African Energy Chamber reports in our newly released “The State of African Energy 2024 Outlook,” we are forecasting a “relative calm” in the liquids market for the remainder of 2023 Access Multimedia Content Six months after the World Health Organization (WHO) declared…
Shell Bags Medals at NAPE Conference Shell Companies in Nigeria (SCiN) and staff won several awards at the 41st annual international conference and exhibition of the National Association of Petroleum Explorationists (NAPE,) in Lagos, in recognition of an educative exhibition and insightful technical presentations. According to a statement by the Media Relations Manager, Abimbola Essien-Nelson,…
NSCDC Busts Crude Oil Thieves in Rivers, Destroys Illegal Refinery The Nigeria Security and Civil Defence Corps (NSCDC) has dismantled an illegal refinery in the Egbede area of Onelga LGA, Rivers State. Two suspects, Joseph Peter and Evans Okorie, were arrested in connection with the operation. The NSCDC’s Special Intelligence Squad apprehended the suspects, recovering…
