Oil Rebounds as Middle East Tensions Outweigh Rate Cut Concerns Oil staged a 2% rebound on Friday, poised for a modest weekly uptick, buoyed by escalating tensions in the Middle East that heightened concerns over potential disruptions in supply. This surge offset the bearish sentiment stemming from reduced expectations for U.S. interest rate cuts this…
PRESS RELEASE: Nigerian Oil & Gas Ministers Of State To Address Global Energy Stakeholders At The 23rd Annual NOG Energy Week Following the Executive Order by President Bola Ahmed Tinubu GCFR, the Honourable Minister of State for Petroleum Resources (Oil) and the Honourable Minister of State for Petroleum Resources (Gas) will be delivering the Ministerial…
Lokpobiri Explains Causes of Nigeria’s Crude Oil Production Shortfall Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, recently addressed concerns surrounding the country’s crude oil production shortfall during the first quarter of 2024 (Q1 2024). Lokpobiri attributed the decline in production to challenges faced by the Trans Niger Pipeline and maintenance activities conducted…
Kosmos Energy Returns to African Energy Week: Invest in African Energy 2024 as a Diamond Sponsor Kosmos Energy, a leading global energy firm based in the United States, reaffirms its commitment to driving sustainable investment in Africa’s energy sector by returning as a diamond sponsor for this year’s African Energy Week (AEW): Invest in African…
Federal Government Unveils Plans for Maximizing Revenue from Crude Oil Wells In a bid to bolster revenue from Nigeria’s crude oil sector, the Federal Government has announced a strategic policy evolution aimed at optimizing the utilization of all available oil wells in the country. Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources, revealed…
Minister of Power Offers Apology to Nigerians Over Controversial Remarks on Electricity Tariff In a recent development, Minister of Power, Adebayo Adelabu, has issued an apology to Nigerians following his contentious comments regarding electricity tariffs. Speaking on Channels Television’s Politics Today program, Adelabu expressed regret for his remarks, acknowledging that they were delivered carelessly. During…
Court Orders Restoration of Eko Electricity Management Amidst Board Crisis The ongoing board dispute at Eko Electricity Distribution Company Plc (EKEDP) took a dramatic turn last Thursday when Hon. Justice D . U Okorowo of the Federal High Court in Abuja issued an order for the reinstatement of the management team led by Dr. Tinuade…
NERC Greenlights Expansion of Band Feeders, Boosting Power Supply in Lagos In a significant development for electricity consumers in Lagos, the Nigerian Electricity Regulatory Commission (NERC) has given the green light to the upgrade of 33 additional feeders in the franchise area of Eko Electricity Distribution Company (EKEDC) to Band A status. Under the newly…
Better and faster results as Shell introduces unmanned survey in Nigeria By Precious Okolobo It’s January 14, 2024, and Accession 500, a small Uncrewed Surface Vessel (USV) is riding the waves around Bonny into the history books of survey in the oil industry in Nigeria. Remotely controlled by personnel on shore, the USV runs along…
US Gulf Coast Heavy Crude Oil Prices Rise Amid Supply Constraints April 10, 2024 Recent weeks have witnessed a surge in prices for heavier crude oil varieties along the U.S. Gulf Coast, with trading approaching parity with lighter oil—a trend signaling supply constraints that could contribute to the upward trajectory of gasoline prices. Refineries dotting…
