In its drive to save cash so it can overhaul its business and focus more on renewable energy and power markets, Royal Dutch Shell is looking to slash the cost of oil and gas production by up to 40 percent, Reuters reports. Shell launches major cost-cutting drive – sources According to Reuters, the company’s new…
Oil prices fell on Wednesday after an industry group reported a surprise rise in US crude, adding to worries about demand that led to a steep selloff earlier in the week. Brent crude was trading down 30 cents or 0.7 per cent at $41.42 a barrel by 0347 GMT, after gaining 28 cents on Tuesday…
By Ikenna Omeje The former Managing Director of Rural Electrification Agency (REA) and the United Nations Secretary General’s Special Representative for Sustainable Energy for All (SEforALL) , Damilola Ogunbiyi, will co-chair the new COP26 Energy Transition Council with COP26 President, Alok Sharma, United Kingdom Secretary of State for Business, Energy and Industrial Strategy, to bring together leaders…
By Ikenna Omeje The Rural Electrification Agency (REA) has denied allegations of corruption levelled against four top of its officials on the procurement of solar-hybrid power solutions for the Nigeria Centre for Disease Control (NCDC) Isolation and Treatment Centres at Yaba, Lagos, University of Abuja Teaching Hospital Gwagwalada in the Federal Capital Territory and the Ikene…
By Ikenna Omeje Within the framework of its net zero strategy, French energy giant, Total, will convert its Grandpuits refinery (Seine-et-Marne) into a zero-crude platform for biofuels and bioplastics, a release by the company said on Thursday. The company disclosed that by 2024, following an investment totaling more than €500 million, the platform will focus…
The Federal Government has charged Mining Companies to ensure they adhere to Mining Guidelines in order to achieve hitch-free operation for the growth of the sector. A release by the Ministry of Mines and Steel Development on Wednesday said that the Minister of State of the ministry, Dr. Uchechukwu Sampson Ogah gave the charge when…
Two Nigerian women and an American have emerged winners of the 2020 ExxonMobil Liquefied Natural Gas (LNG) Power Play Awards, which was recently announced by the company. Now in its second year, the Power Play Awards has commanded the attention of women working in the LNG business and their colleagues who support them around the…
“Investment and Trade for Africa’s Economic Development” – a public webinar held on Wednesday – targeted opportunities for cross-border collaboration between Africa and Germany. The African Export-Import Bank announced its plans to sign a Memorandum of Understanding with German car manufacturers to establish an automotive industry in Africa. The Germany-Africa Business Forum (GABF), Africa Oil…
The Nigerian Association of Petroleum Explorationists (NAPE) is hosting a Workshop for Media Professionals covering energy and the oil and gas sectors of the Nigerian economy as well as oil and gas professionals working in the Corporate Communications departments in oil and gas companies. The theme of the workshop is ‘Accessing Quality Information & Data…
By Mordi Chukwunonso Esther Oil futures were a little steady on Tuesday after sharp overnight losses as the latest tropical storm in the Gulf of Mexico lost force but distress about fuel demand continued with outbreaks around the globe in coronavirus cases. Brent crude futures edged three cents 0.1 per cent, lower to $41.41 a…