Category: Business News

From left, Managing Director, The Shell Petroleum Development Company of Nigeria Limited and Country Chair, Shell Companies in Nigeria, Osagie Okunbor and Kechi Okwuchi, survivor of the 2005 Sosoliso plane crash during a ‘Thank You’ visit to SPDC. There were emotional scenes as Miss Kechi Okwuchi, a survivor of the 2005 Sosoliso plane crash that…

THE management of Ibadan Electricity Distribution Company (IBEDC), has urged its customers tp adhere strictly to the safety rules and standards. The head of Health, Safety and Environment, Mrs. Mariam Arowolo, in a statement made available to newsmen on Thursday, said that investigation has revealed that refusal to observe basic safety rules and procedures remains…

By Energy Worth with Agency Report Crude oil price headed toward its worst week in almost a year as the global risk-asset rout further rankled investors already concerned over growing U.S. output undermining Organization of Petroleum Exporting Countries, OPEC’s efforts to tighten markets and prop up prices, it has been reported. Nigeria’s 2018 budget is…

By Energy Worth The National Bureau of Statistics (NBS) has disclosed that Generation companies (Gencos) generated 94,627 megawatts per hour (MWh) of energy daily in the fourth quarter of 2017.According to the information posted on its website on Thursday, the report showed that daily energy generation attained a peak of 105,152 megawatts on December 8.The…

Exxon Mobil Corporation has said that it added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil’s proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57 percent of the reserves, up from 53 percent in 2016. ExxonMobil’s reserves life at current production rates…

*The missing vessel. By Energy Worth with Agency Report India has sought the help of the Nigerian and Benin natives to find an oil tanker that has gone missing with 22 Indian crew members off Benin’s coast. External Affairs Minister, Sushma Swaraj, confirmed this on Sunday that the tanker, Marine Express, went missing in the…

By Energy Worth with Agency Report An Italian lawyer working for oil giant, Eni, Piero Amara, was arrested alongside 14 other people by Italian investigators over an intricate plan to spy and muddle a number of investigations undertaken including investigation into OPL 245, infamously known as the Malabu Oil scandal. Last October, Italian prosecutors charged…