Oil giant, Shell, has reportedly initiated negotiations with local oil producers for selling two of its Nigerian oil licences in the Niger Delta, collectively worth $2 billion. Vanguard has reported. The Anglo-Dutch petrochemical giant is in talks about selling its oil mining licenses 11 and 17, reports confirmed. Sources close to the matter revealed that…
By Energy Worth The Federal Capital Territory (FCT) Minister, Muhammad Bello, on Friday, announced that all quarrying/mining activities and borehole drilling be suspended forthwith in the areas affected by the recent earth tremor. Affected by the quarrying/mining and borehole drilling suspension are Mpape, Gwarimpa and Garki districts. The suspension will subsist pending the outcome of…
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) on Friday, allayed fears of possible hitch in petroleum products supply in parts of the country, stating that it has already commenced moves to resolve the issue that might lead to an interference in supply fuel. This, according to a statement by the corporation in Abuja,…
By Tsvetana Paraskova A joint panel of OPEC and non-OPEC representatives will discuss next Tuesday how the group could distribute among them the 1 million bpd production increase that was agreed in June Reuters reported on Friday, citing sources familiar with the plans. OPEC and its Russia-led partners of non-OPEC producers in the production cut…
The Nigerian National Petroleum Corporation (NNPC), has signed a Memorandum of Understanding (MoU) in China with the China National Offshore Oil Corporation (CNOOC) towards developing Nigeria’s oilfield services as well as boosting research and development in the oil and gas industry. The MoU signing, the third in the series within the week, by the NNPC…
It has been recorded that solar installations in India in Q2 2018 were at the lowest level since Q1 2017 with 1,599MW, a 52% decrease compared to 3,344MW installed in Q1 2018. This is according to Mercom India Research’s newly released Q2 2018 India Solar Market Update. The report noted that installations were also down…
By Energy Worth Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, on Thursday, announced immediate stoppage of fuel distribution and supply in Delta State, following alleged forceful evacuation of about 3,000 workers from the rigs by five drilling oil rigs being operated by Sterling Energy Exploration Company, SEEPCO, and its drilling arm, British Oil…
By Tsvetana Paraskova As OPEC has been easing the production cuts, the cartel’s crude oil production hit a 10-month high in August, as Iraq including Kurdistan pumped at record levels and Libya recovered from weeks of port blockades, according to the monthly S&P Global Platts survey. Total OPEC-15 oil production came in at 32.89 million…
By Oke Peter It was a gathering of renewable energy stakeholders, energy firms, Small and Medium Enterprises (SMEs) and entrepreneurs at the ‘Blockchain Networking Event’ organised by the First City Monument Bank (FCMB) in Lagos, on Wednesday, as experts discussed how ‘Blockchain Technology’ could enhance energy access in Nigeria. The aim of the programme, organised…
By Energy Worth The Hydrocarbon Pollution Remediation Project (HYPREP), has deployed over 100 companies to carry out scoping exercise in the impacted communities of Ogoni ethnic nationality. Ogoni land, polluted with oil spills This is part of the selection process for companies that will participate in the remediation of the oil polluted communities of Ogoni…
