Oil Prices Rise As Focus Turns to Possible Supply Cuts Oil prices rose on Tuesday, after plunging to nine-month lows a day earlier, on indications that producer alliance OPEC+ may enact output cuts to avoid a further collapse in prices. Brent crude futures for November settlement rose 65 cents, or 0.77%, to $84.71 per barrel…
Oil Prices Hit Nine-Month Low On Recession Fears Oil prices hit nine-month lows on Monday, driven down by an expected decline in fuel demand as rising interest rates raise the likelihood of global recession, with further price pressure coming from a surging U.S. dollar. Brent crude futures for November settlement slipped by 82 cents, or…
FG Set to Inaugurate New Transformers for Nigeria-Siemens Power Project The Federal Government is set to inaugurate the newly acquired transformers from Siemens. The transformers, when inaugurated would increase power supply by 2000MW via the transmission end of the system. The Siemens-Nigeria deal which will boost power generation by 25,000MW by 2025 was facilitated by…
Neconde Denies Involvement In Illegal Oil Lifting Neconde Energy Limited, an exploration and production company, has sent a strong warning to peddlers of falsehood attempting to link it with an alleged illegal lifting of crude oil at Ugo Ocha export terminal around Oil Mining Lease (OML) 42. Refuting the allegation that it was complicit, the…
NSCDC Parades Five Suspects Over 24,000 Litres Of AGO The Nigeria Security and Civil Defence Corps, NSCDC, on Friday paraded five suspected oil thieves caught with over 24,000 litres of illegally refined Automotive Gasoline Oil, AGO, concealed in sack bags in Rivers State. Rivers State Commandant of NSCDC, Michael Besong Ogar, while parading the suspects,…
CMA can fill oil, gas, maritime industries’ human capital needs – Chairman. The Chairman of Charkin Maritime Academy (CMA), Portharcourt, Rivers , Sir Charles Wami has said the school could fill in the human capital needs of the maritime and oil/gas industries. CMA is a leading provider of training for professionals in the maritime and…
Carbon Intel Forum to Push Carbon Capture Technology Mainstream The Carbon Capture, Utilisation and Storage (CCUS) technology is about to get another boost as experts and industrial participants across the global meet at the annual Carbon Intel Forum to be organized by Gulf Energy. According to the organiser, the event will be hosted and sponsored…
Jamoh’s Giant Strides in Repositioning NIMASA In the words of Harry S. Truman, “Men make history and not the other way around. In periods where there is no leadership, society stands still. Progress occurs when courageous, skillful leaders seize the opportunity to change things for the better.” This quote reflects the effective leadership of the…
NEITI Assures Plans to Prepare Nigeria for Global Governance Assessment of Oil, Gas, Mining Sectors By EITI As part of effort to ensure transparent, accountable, and beneficial extractive industry, Nigeria Extractive Industries Transparency Initiative (NEITI), has given assurance of its plans to prepare Nigeria for global governance assessment of oil, gas and mining sectors. This…
DisCos Receive 222,639 Complaints in Q4 of 2021- NERC The Electricity Distribution Companies (DisCos) received a total of 222,639 complaints from consumers in Quarter 4 of 2021. This is contained in the Nigerian Electricity Regulatory Commission (NERC) Fourth Quarter Report 2021, released late on Thursday. The report said that the 222,639 complaints represented 9.91 per…
