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The Federal Government has approved a provisional Concession deal with Mercury Marine Concession Company (MMCC), promoters of the Escravos Seaport Industrial Complex (ESIC) for the establishment of a deep seaport in the Escravos area of Delta State. Chairman, Chief Executive of MMCC, Rear Admiral Andrew Okoji told newsmen that the Federal Ministry of Transport…
April 27, 2021
Oil prices were trading up on the day prior to the data release despite the coronavirus surge in the world’s third-largest oil importer, India, after OPEC’s JTC meeting resulted in a cancellation of the regular ministerial meeting that was to be held on Wednesday, with a recommendation for no changes to the May production quota…
April 27, 2021
The Shell Petroleum Development Company of Nigeria LTD (SPDC), has recorded a spill of 213 barrels of crude oil in Ikarama Community of Okordia Clan, Yenogoa, Bayelsa State. This was confirmed by the SPDC’s Media Relations Manager, Bamidele Odugbesan. He disclosed that an investigation about the oil spill incident has been concluded and a total…
April 22, 2021
Executive Chairman and Chief Executive Officer (CEO) of Lee Engineering and Construction Company Limited, Chief Dr. Leemon Ikpea (the Odonlagbon of Warri Kingdom, Delta State) has been honoured with an award of excellence and recognition by Jabulani Empowerment Network, Canada (JEN Canada). JEN Canada, an advocacy and social development organization bestowed the business mogul with…
April 18, 2021
By Tsvetana Paraskova A year after the pandemic and the disagreement within OPEC+ over supply management crushed oil prices, the industry finds itself at an all-too-familiar crossroads: Will OPEC’s bet that U.S. shale’s “drill, baby, drill” is gone forever be right this time? Analysts seem to concur that this is a safe bet, at least…
April 16, 2021
The Minister of Power, Sale Mamman, on Thursday, apologized over power outage in various parts of the country. According to him, outages are due to the breakdown of eight National Integrated Power Plants supplying electricity to the national grid. The plants, he said, are Sapele, Afam, Olonrunsogo, Omotosho, Ibom, Egbin, Alaoji and Ihovbor, adding that…
April 15, 2021
By Haley Zaremba Has peak oil demand already come and gone? That’s an exceptionally hard question to answer. There are some experts that say unequivocally, yes. They claim that peak oil is already upon us, thanks to the crushing blow that the Covid-19 pandemic dealt to global oil demand as well as the ever-escalating worldwide transition toward…
April 15, 2021
Boost Renewable Funding Seven countries in Europe have committed to a plan that will see them stop public export guarantees for fossil fuel projects, raising fresh concerns for Nigeria and many countries around the world whose economies are heavily dependent on oil and other fossils. The French Finance Minister, Bruno Le Maire disclosed this in…
April 15, 2021
The alliance of the OPEC+ oil producers was able to achieve the 113 per cent oil cuts agreement reached last month largely due to Saudi Arabia’s voluntary additional cut of 1 million barrels a day (mbd), a report said. The International Energy Agency (IEA) which disclosed this in its monthly Oil Market Report on Wednesday,…
April 14, 2021
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The Federal Government has approved a provisional Concession deal with Mercury Marine Concession Company (MMCC), promoters of the Escravos Seaport Industrial Complex (ESIC) for the establishment of a deep seaport in the Escravos area of Delta State. Chairman, Chief Executive of MMCC, Rear Admiral Andrew Okoji told newsmen that the Federal Ministry of Transport…
April 27, 2021
Oil prices were trading up on the day prior to the data release despite the coronavirus surge in the world’s third-largest oil importer, India, after OPEC’s JTC meeting resulted in a cancellation of the regular ministerial meeting that was to be held on Wednesday, with a recommendation for no changes to the May production quota…
April 27, 2021
The Shell Petroleum Development Company of Nigeria LTD (SPDC), has recorded a spill of 213 barrels of crude oil in Ikarama Community of Okordia Clan, Yenogoa, Bayelsa State. This was confirmed by the SPDC’s Media Relations Manager, Bamidele Odugbesan. He disclosed that an investigation about the oil spill incident has been concluded and a total…
April 22, 2021
Executive Chairman and Chief Executive Officer (CEO) of Lee Engineering and Construction Company Limited, Chief Dr. Leemon Ikpea (the Odonlagbon of Warri Kingdom, Delta State) has been honoured with an award of excellence and recognition by Jabulani Empowerment Network, Canada (JEN Canada). JEN Canada, an advocacy and social development organization bestowed the business mogul with…
April 18, 2021
By Tsvetana Paraskova A year after the pandemic and the disagreement within OPEC+ over supply management crushed oil prices, the industry finds itself at an all-too-familiar crossroads: Will OPEC’s bet that U.S. shale’s “drill, baby, drill” is gone forever be right this time? Analysts seem to concur that this is a safe bet, at least…
April 16, 2021
The Minister of Power, Sale Mamman, on Thursday, apologized over power outage in various parts of the country. According to him, outages are due to the breakdown of eight National Integrated Power Plants supplying electricity to the national grid. The plants, he said, are Sapele, Afam, Olonrunsogo, Omotosho, Ibom, Egbin, Alaoji and Ihovbor, adding that…
April 15, 2021
By Haley Zaremba Has peak oil demand already come and gone? That’s an exceptionally hard question to answer. There are some experts that say unequivocally, yes. They claim that peak oil is already upon us, thanks to the crushing blow that the Covid-19 pandemic dealt to global oil demand as well as the ever-escalating worldwide transition toward…
April 15, 2021
Boost Renewable Funding Seven countries in Europe have committed to a plan that will see them stop public export guarantees for fossil fuel projects, raising fresh concerns for Nigeria and many countries around the world whose economies are heavily dependent on oil and other fossils. The French Finance Minister, Bruno Le Maire disclosed this in…
April 15, 2021
The alliance of the OPEC+ oil producers was able to achieve the 113 per cent oil cuts agreement reached last month largely due to Saudi Arabia’s voluntary additional cut of 1 million barrels a day (mbd), a report said. The International Energy Agency (IEA) which disclosed this in its monthly Oil Market Report on Wednesday,…
April 14, 2021
