Seplat Energy Provides Update on the Majestic Rig incident Contrary to some media reports, the Majestic rig is owned by Depthwize Nigeria Limited and not Seplat. As stated in our previous announcement, the rig was in transit to its next drill location at Ovhor. Seplat is the operator of OMLs 4, 38 & 41 on…
BP Backs Green Hydrogen Start-Up Aiming to Cut Fuel’s Costs London has invested in a start-up company developing technology seeking to use vapour from heavy industry to sharply reduce the production costs of zero-carbon hydrogen. BP Ventures, the British energy giant’s venture capital arm, was among several investors in a $12.5 million Series A financing…
Kenya Reinstates Small Fuel Subsidy in Government U-Turn Kenya has reinstated a small subsidy to stabilise retail fuel prices for the next 30 days, the energy regulator said late on Monday, in a reversal of government policy following public anger over the high cost of living. On coming to office last September, President William Ruto…
MWUN President, ENL Managers, Stakeholders Celebrate Princess Haastrup on her Birthday Eminent maritime industry stakeholders including the President-General, Maritime Workers Union of Nigeria (MWUN), Prince Adewale Adeyanju other stakeholders of the maritime industry have sent congratulatory messages to the Chairman, Seaport Terminal Operators Association of Nigeria (STOAN), Princess (Dr) Vicky Haastrup, on the occasion of…
Americans Struggling to Pay Skyrocketing Energy Bills A summer of record-breaking heat has dramatically increased electricity consumption for Americans with many now struggling to keep up with their skyrocketing electric bills. According to the U.S. Energy Information Administration (EIA), the average household spends about $262 a year on air conditioning, with costs going as high…
NDPHC Debunks False Media Report on EKO, ABA Distribution Company Outages due to Supply Plant Shuts Down The Niger Delta Power Holding Company Limited (NDPHC), said it was aware of an erroneous news article that is being disseminated through various print and online media outlets, titled “Eko, Aba Electricity Distribution Company Suffer Outages as Supply Plant…
Column: LNG’s Calm Veneer Stripped by Australia Strike Threat The comfort that had characterised natural gas markets in Asia and Europe in recent months was shown to be a mere illusion by the threat of strike action at three major Australian liquefied natural gas (LNG) plants. In the blink of eye, a market that had…
2023 Q2: Total Energies Plc Reports 14.12% Growth in Pre-Tax Profits Total Energies Marketing Nigeria Plc reported its 2023 second-quarter results showing pre-tax profits grew by 14.12% year on year, reaching N7.052 billion. This took half-year pre-tax profits to N13.476 billion versus N12.733 billion in the same period last year. Key highlights Q2 2023 vs…
OPEC+ Oil Supply Plunges By 1.2 Million bpd as Saudi Arabia Cuts Output Oil supply from the OPEC+ group dipped in July by 1.2 million barrels per day (bpd) to 50.7 million bpd, the lowest level in nearly two years as Saudi Arabia began its unilateral production cut of 1 million bpd, the International Energy…
Nigeria Records 296 Million boe in First Six Months of 2023 – Research Nigeria recorded 296 million barrels of oil equivalent (boe) in discovered volumes, in the first six months of this year, Rystad Energy research has shown. Nigeria trailed Guyana, which recorded 603 million boe and Turkey, which sits second with 380 million boe,…