U.S. Shale Oil Production Growth Getting Increasingly Difficult: Report The average U.S. shale output per well may have doubled over the past decade, but those crazy growth days are now behind us, according to a new report released on Tuesday by Enverus Intelligence Research (EIR), a subsidiary of Enverus. “The U.S. shale industry has been…
Germany Sees Natural Gas Prices Remaining High for Years Germany expects natural gas prices to remain high until at least 2027, the government said on Wednesday in a report on the measures to mitigate high energy costs for households. Since the beginning of this year, when the so-called price brake was introduced, the federal government…
No Intention to Increase Petrol Pump Price – NNPC Limited The Nigerian National Petroleum Company (NNPC) Limited has said that it has no intention of increasing the price of Premium Motor Spirit (PMS), popularly known as petrol. Petrol subsidy was removed by President Bola Tinubu in May, allowing the forces of demand and supply to…
Gas expansion projects to gulp $20bn yearly – FG The Federal Government, on Monday, said about $20bn annual investments would be needed to achieve the desired gas expansion projects in Nigeria and deepen the use of gas across the country. It disclosed this through the Nigeria Extractive Industries Transparency Initiative (NEITI) at the Decade of…
Diesel price hits N950/litre, manufacturers fear shutdowns, job losses Oil marketers, on Monday, said the foreign exchange crisis in Nigeria and the recent implementation of a 7.5 per cent Value Added Tax on Automotive Gas Oil, popularly called diesel, had pushed up the cost of the commodity to between N900 and N950/litre in many states….
SNEPCo boss projects gas shortage by 2030 Executive Summary: The Managing Director of Shell Nigeria Exploration and Production Company Limited, Elohor Aiboni, has warned that Nigeria could face a gas supply shortage of three billion cubic feet per day by 2030. Despite having the largest proved gas reserves in Africa, Aiboni highlights that gas demand…
NIMASA: Ratified conventions and the much sought after SPOMO Act Between 2020 and 2023, the Nigerian Maritime Administration and Safety Agency (NIMASA) has brought the country to speed in the maritime world with ratification of 6 conventions. Under the Dr Bashir Yusuf Jamoh OFR, led Management NIMASA in the last three years have doubled Nigeria’s…
Queues resurface in Lagos as marketers envisage pump price increase Long queues of vehicles has resurfaced in Lagos as some filling stations shut down operations in anticipation of increase in pump price. Some filling stations along Ikorodu Road, Maryland, Gbagada, Bariga, Ketu and Yaba witnessed long queues. Furthermore, some stations were under lock and keys…
NUPRC canvasses innovative solutions to energy transition challenges The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, says the impact of energy transition has made it mandatory for oil sector operators to develop innovative measures to mitigate its effect. He spoke at the Energy Year Nigeria 2023 Book Launch and Awards Ceremony in…
Atlas Oranto Pioneers African Energy Security as Diamond Sponsor at African Energy Week (AEW) Highlights Atlas Oranto, Africa’s largest privately-held exploration and production company, has announced its sponsorship of the African Energy Week (AEW) conference. With 22 oil and gas licenses across the continent, Atlas Oranto is a key player in the African petroleum sector….