Oil Climbs as Geopolitical Risks Worsen
Oil prices climbed again on Friday as geopolitical risks continued to grow. ICE Brent price rose by 2.09% to $79.03 per barrel from the closing price of $77.41. Also, West Texas Intermediate (WTI) increased by 2.11% to $73.54 per barrel from $72.02 per barrel.
Seplat Energy’s Amukpe-Escravos Pipeline Begins Operation
Seplat Energy Plc today announces that it has begun commercial injection of crude oil through the new Amukpe-Escravos Pipeline.
Nigeria’s Oil Production Falls Below 1Mbpd
Nigeria’s crude oil production fell below 1 million barrels per day (mbpd) in August, figures from its regulator show, as the nation grappled with widespread theft from its pipelines.
PCNGi Collaborates With UN Agency on Nigeria’s Greener, Sustainable Future
The Presidential Compressed Natural Gas Initiative (PCNGi) has partnered with the United Nations Sustainable Energy for All (SEforALL) for a greener and more sustainable future in Nigeria.
Tanker Drivers Have no Plan to Break Away From NUPENG- Forum
The forum of former National Chairmen of the Petroleum Tanker Drivers Branch (PTD) says the tanker drivers have no plan to break away from the umbrella union.
Fuel Scarcity: Minister Pushes to Overcome Supply Disruption
The Minister of State, Petroleum Resources, Chief Timipre Sylva, says the Federal Government and regulatory authorities are making efforts to address fuel scarcity by ensuring that supply disruption is overcome.
Oil Prices Rebalance as Market Awaits US Fed Minutes
Oil prices are mixed on midweek ahead of the release of December meeting minutes of the Fed's Federal Open Market Committee (FOMC).
NNPC Ltd, TotalEnergies Sign MoU on Adoption of Methane Detection Technology
The Nigerian National Petroleum Company Limited (NNPC Ltd) has signed a Memorandum of Understanding (MoU) with TotalEnergies for adoption and deployment of Airborne Ultralight Spectrometer for Environmental Application (AUSEA) in its upstream operations.
FG recovered N2.6trn revenue from oil coys – NEITI
The Federal Government has recovered a total of N2.6 Trillion revenue from oil firms following the Nigeria Extractive Industries Transparency Initiative (NEITI) National Assembly intervention.
Oil Tumbles below $100/Barrel on Expected Output Hike
Crude oil prices tumbled, falling below $100 per barrel, on expectations that the Organisation of Petroleum Exporting Countries (OPEC) and allies will raise output at their august meeting. The price decline is also noted to have been supported by the prospect that oil companies would ramp up output following a very good earnings season, according to OANDA analyst Edward Moya.
