Category: Business News

By Energy Worth The chairman, House of Representatives Committee on Water Resources, Hon. Aliyu Ahman-Pategi, on Monday hinted that the protracted crisis in the downstream sub-sector of Nigeria’s oil economy which led to the current fuel scarcity in the country would not be abated for now as it has gone beyond the federal government power…

Exxon Mobil Corporation will release fourth quarter and full year 2017 financial results on Friday, February 2, 2018. A press release will be issued via Business Wire and available at 7 a.m. CT at www.exxonmobil.com.Jeff Woodbury, vice president of Investor Relations, will review the results during a listen-only conference call at 8:30 a.m. CT. The earnings presentation can…

By Energy Worth The Oil and Gas Free Zones Authority (OGFZA) has opened discussions with the Nigerian Ports Authority (NPA) to forge closer ties on a range of issues from use of land in the ports where oil and gas free zones are located to strategic cooperation.The strategic engagement move between the two government agencies…

The once-giant crude nation whose output plunged in the past decade is enticing the world’s richest explorers with cut-rate prices for drilling rights to its most coveted offshore fields. The Jan. 31 auction for access to 29 deepwater tracts comes as $70/bbl crude lifts foreign drillers from the worst market slump in decades. ExxonMobil Corp.,…

By Energy Worth with Agency ReportThe Kaduna Refining and Petrochemical Company (KRPC) shut down operations on January 15 due to the non-availability of crude oil.The Executive Director, Services, of KRPC, Abdullahi Idris, disclosed this to the News Agency of Nigeria (NAN) in Kaduna.He said the refinery, whose fuel plant was inaugurated in 1980, was functioning…

*Alhaji Aliko Dangote, President, Dangote Group. Kano State government has handed over 150 hectares of land to Dangote Group for the development of a United States $150m Dangote/Black Rhino solar power plant in Zakirai, Gabasawa local government area.Managing Director, Stakeholder Management Dangote Group, Alhaji Bello Danmusa received the land on behalf of Aliko Dangote.The handing…

By Energy Worth Africa’s top oil producer is learning to ignore crude prices, Nigeria’s Finance Minister Kemi Adeosun said. “We’ve gotten to a point where we don’t care,” whether oil prices will be sustained at the level that they have recently risen to, Adeosun said during an interview in her office in the capital, Abuja….

By Oke Peter President Buhari has pledged to spend the income accruing to the country from the rising oil prices in the international market on infrastructural development.  Receiving a delegation from Eni Group, led by the Chief Upstream Officer, Antonio Vella, the President said extra funds outside the provision of this year’s budget “will be…

The Gulf Quest LLC has announced that Total’s Benoit Ludot, V.P. of deep water and subsea, upstream, will deliver a keynote presentation at the Marine Construction Engineering Deepwater Development (MCEDD) conference on April 10, 2018 in Milan, Italy.Ludot’s presentation is titled “The future, beyond today, for ultra-deep offshore, ultra-harsh metocean environments through achievements in cost…