Chief Executive Officer of the National Petroleum Authority, Hassan Tampuli, has reiterated the authority’s commitment to promoting clean environment, as ongoing policy to promote low sulfur diesel standards are enforced. He said this when he received this year’s “Outstanding Policy” award from the Climate and Clean Air Alliance at the on-going Climate Change Summit (COP23) in Bonn, Germany.
The Nigerian Navy has inaugurated the Maritime Safety Information (MSI) portal and Data Centre for effective security and safety of mariners around the nation’s waterways.
The Chief of Naval Staff, Vice Adm. Ibok-Ete Ibas, who performed the inauguration noted that the data centre, would not only provide security around the nation’s territorial waters but also boost the economy.
Oil prices rose slightly on thursday following expectations that the Organisation of Petroleum Exporting Countries (OPEC), will extend production cuts at a meeting at the end of this month.
Brent crude at the international averaged $62.06 per barrel, up 19 cents, or 0.3 per cent, from their last close, while the United States, West Texas Intermediate (WTI) crude futures stood at 55.39 dollars a barrel, six cents up from their last settlement.
The Nigerian Navy has successfully intercepted a pirate boat with ten crew members kidnapped from a bulk carrier about 23 miles south of Bonny in the Gulf of Guinea.
The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted.
By 2025, the growth in American oil production will equal that achieved by Saudi Arabia at the height of its expansion, and increases in natural gas will surpass those of the former Soviet Union, the agency said in its annual World Energy Outlook. The boom will turn the U.S., still among the biggest oil importers, into a net exporter of fossil fuels.
Savannah Petroleum is pleased to announce that it has entered into a lock up agreement with, Seven Energy, Seven Energy Finance Limited (SEFL), the Seven Group and certain of the creditors of the Seven Group.
The Lock-up Agreement relates to the proposed acquisition by Savannah of certain of the Seven Group's assets and the associated proposed financial restructuring of the Seven Group.
Two Nigerian business owners, Mr. Precious Adeho and Mrs. Ngozi Deborah Atalor, have emerged winners in the 2017 Shell LiveWIRE Top Ten Innovators competition, a global contest open to beneficiaries of Shell LiveWIRE, and aimed at rewarding shining cases of innovation in businesses supported by the programme.
OPEC just significantly overhauled its expectations for North American shale, projecting strong supply growth through the early 2020s. The revision came as part of OPEC’s World Oil Outlook (WOO), and it represents an acknowledgment from the cartel that it has failed to kill off U.S. shale by flooding the market.
Nigerian crude cargoes found their way to Portugal for the first time this year, crude export destination data released by the Nigerian National Petroleum Corporation (NNPC) showed.
Around 948,000 barrels of Nigerian crude was exported to the Western European country in May 2017, the latest NNPC report also showed.
The last time shipments of Nigerian crude oil called at Portuguese ports were in November last year and around 996,000 barrels crude was offloaded.