Egypt Discovers Large Gas Field in Mediterranean Egypt has discovered a large gas field in the Nargis block in the eastern Mediterranean, Petroleum Minister Tarek El Molla said on Thursday. Evaluation is still ongoing to determine the field’s reserves, he said in a briefing to a parliamentary committee. Nargis is one of four offshore exploration…
FG Opens Second Niger Bridge to Ease Traffic The second Nigeria Bridge has been opened for use after several years of delay The bridge which gulped around N400bn was open at 9:50am on Thursday, December 15, 2022. The bridge would be open for only 30 days, according to the federal controller of works in Delta…
Declare a State of Emergency on Power Industry Stakeholders at PwC Annual Power Roundtable call on incoming Administration to Declare a State of Emergency on Power The incoming administration in 2023 should declare a state of emergency in the power sector to solve the lingering crisis of inadequate supply. This consensus emerged at the 13th…
Eni Eyes Biorefinery in Malaysia with Petronas, Euglena Italian energy group Eni is studying the possibility of developing and operating a biorefinery in Malaysia together with Japan’s Euglena and Malaysia’s Petroliam Nasional Berhad (Petronas), the three groups said on Wednesday. The plant would be based in the integrated refinery and petrochemical Pengerang Integrated Complex (PIC)…
Russia’s Oil Exports Rose but its Revenue Fell Ahead of Price Cap -IEA Russia’s oil exports rose in November ahead of a Dec. 5 price cap imposed by the G7, the European Union and Australia to curb Moscow’s wartime revenue, the International Energy Agency (IEA) said on Wednesday. However, lower global prices and steeper discounts…
11PLC Heads to Supreme Court over Sale of Continental Hotel …Files stay of execution of Appeal Court’s judgment The Asset Management Corporation of Nigeria (AMCON), Polaris Bank Limited and 11PLC has approached the Supreme Court seeking to quash the recent judgement of the Appeal Court nullifying the sale of Lagos Contintental Hotel to 11PLC. In a statement issued yesterday,…
New Alliance to Promote Hydrogen Energy in Africa, Reduce Emissions The Africa Green Hydrogen Alliance – AGHA Green Hydrogen Organisation – GH2 will be coordinating with the African Hydrogen Partnership (AHP) to lay the foundation for establishing hydrogen economies and societies in Africa besides promoting the creation of a pool of investments. The Alliance established…
Shell emerges best local content operator Shell Companies in Nigeria have been named the best local content operators at the 2022 annual industry dinner and awards ceremonies of the Petroleum Technology Association of Nigeria (PETAN) held in Port Harcourt, the Rivers State Capital, on Friday. The Managing Director of Shell’s deep-water business, Shell Nigeria Exploration…
Savannah Announces SPA with PETRONAS for Acquisition of Entire South Sudan Oil and Gas Portfolio Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa, is pleased to announce that it has entered into a Share Purchase Agreement (“SPA”) with PETRONAS International Corporation Limited (“PETRONAS”) to acquire PETRONAS’ entire…
Oil Edges Up On U.S. Pipeline Restart Uncertainty, Russian Supplies Oil prices rose as much as more than 1% on Monday as a key pipeline supplying the United States remained shut while Russian President Vladimir Putin threatened to cut production in retaliation for a Western price cap on its exports. Brent crude futures were up…