Category: Business News

CNOOC Limited has announced its business strategy and development plan for the year 2018.The Company’s net production target for 2018 is 470 million to 480 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 64% and 36%, respectively. The Company’s net production for 2017 is expected to be approximately 469…

The Organization of the Petroleum Exporting Countries (OPEC) will host the 7th OPEC International Seminar at the Imperial Hofburg Palace in Vienna, Austria, on 20−21 June 2018 under the theme, ‘Petroleum – cooperation for a sustainable future’. The Seminar will provide fresh impetus to key petroleum industry issues and challenges, helping to enhance existing avenues of…

Exxon Mobil Corporation has announced an estimated 2017 earnings of $19.7 billion, or $4.63 per share assuming dilution, compared with $7.8 billion in 2016. U.S. federal tax reform in the fourth quarter resulted in a non-cash earnings gain of $5.9 billion, due to revaluation of deferred income tax balances. Non-cash asset impairments of $1.5 billion were recorded during…

*Dr Ibe Kachikwu, Minister of State for Petroleum Resources. By Energy Worth Nigeria and the Niger Republic, will in 60 days time sign binding bilateral and technical agreements that will enable both countries develop and build a new petroleum refinery in a Katsina State town which borders both countries, the Ministry of Petroleum Resources has…

*Steven Kandarian Exxon Mobil Corporation has announced the election of Steven A. Kandarian to its board of directors, effective February 1, 2018. Kandarian is the chairman, president and chief executive officer of MetLife Inc.With the election of Kandarian, the ExxonMobil board stands at 11 directors, 10 of whom are non-employee directors.Kandarian’s experience leading a large international…

The Managing Director, Rural Electrification Agency (REA), Mrs Damilola Ogunbiyi, during the House of Representatives Committee on Power public hearing, in Abuja.By Energy WorthThe Managing Director of the Rural Electrification Agency (REA), Mrs Damilola Ogunbiyi was at the public hearing on Rural Electrification Schemes in some Universities which held on the 25th January, 2018 at…

By Energy Worth In a bid to strengthen the network and improve power supply to customers across its network, the management of Ikeja Business Unit last week commissioned three (3) transformer substations to relieve overloaded transformers.Olowu II 300KVA transformer, one of the newly commissioned transformers will relieve Medical and Olowu transformers, bringing the heavy load-…

The Board of Directors of Exxon Mobil Corporation has declared a cash dividend of $0.77 per share on the Common Stock, payable on March 9, 2018 to shareholders of record of Common Stock at the close of business on February 12, 2018.This first quarter dividend is at the same level as the dividend paid in the fourth…