Lagos — Economic tension could heighten in Nigeria going by the recent drop in its crude oil production by 92,000 barrels per day in May, according to data from OPEC quoting secondary sources. The country gets major revenue from the export of crude oil, through which it funds its national budgets, with this year’s set at N8.92 trillion,…
OSLO — Exxon Mobil is considering selling all of the stakes it holds in oil and gas fields off the Norwegian coast, a spokeswoman said. Two years ago the U.S. major – the world’s largest oil company – sold its operated assets in the area. But it has retained stakes in more than 20 other fields,…
Lagos — Despite lower economic growth rates across the world, the Organization for the Petroleum Exporting Countries, OPEC, has forecast a growth of 1.2 million barrels per day in global oil demand for the second half of this year. The group’s Monthly Oil Market Report, MOMR for June, said world oil demand growth will improve “seasonally”,…
Kuala Lumpur —Disruptive forces and the rapid changes in technology breakthroughs are driving fundamental structural changes within the global energy industry. How does the oil and gas business prepare for what will be a new energy future? The 20th Asia Oil and Gas Conference (AOGC) which is due to open at the Kuala Lumpur Convention…
As SEC, Oando Begin Legal Fireworks Justice Ayokunle Faji of the Federal High Court in Lagos will on Monday, June 24, 2019, begin hearing of arguments between the lawyers of sacked Group Managing Director of Oando Plc, Jubril Adewale Tinubu and his long time deputy, Omamofe Boyo and the Securities and Exchange Commission (SEC). The SEC…
Forte Oil Plc (the Company) hereby notifies the Nigerian Stock Exchange (NSE), its shareholders and other stakeholders of the Company of the following: The resignation of Mr. Akin Akinfemiwa and Mr. Julius Omodayo-Owotuga as Chief Executive Officer and Chief Financial Officer of the Company, respectively. The appointment of Mr. Olumide Adeosun and Mr. Moshood Olajide…
The 9th edition of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) Awards, hosted by the Abu Dhabi National Oil Company (ADNOC), is now open for submissions. In this fourth industrial age it is technology, innovation, environmental leadership and talented workforces that are shaping the companies of the future. Oil and…
The President will be presented the award during the conference, during which he will also present the keynote address CAPE TOWN, South Africa, June 23, 2019/ — Africa Oil & Power (https://AfricaOilandPower.com) will present the award to H.E. Macky Sall at its annual conference in Cape Town; H.E. Macky Sall is renowned for his…
Close to $200 billion in projects across the globe from Australia to the United States are racing to be approved over the next two years, vying to provide around 65 million tonnes of new annual supplies that are needed by 2025, according to estimates by consultants Wood Mackenzie. However, construction delays and cost blowouts could…
NIPCO Plc, has upscaled its social investment in the education sector with the inauguration of modern computer laboratory for pupils in Lagos state public schools The feat is part of the company’s broad CSR policy aimed at improving its intervention in the area of health, education and infrastructure upgrade in its host communities amongst others. …
