Category: Oil & Gas
NNPC primed to go paperless soon, says Baru
The Nigerian National Petroleum Corporation (NNPC) has disclosed its readiness to go paperless in its operations within the shortest possible time. NNPC Group Managing Director, Dr Maikanti Baru, gave the disclosure in Abuja, on Monday, during the inauguration of two committees: The Systems Applications and Products (SAP) Steering Committee (SC) and Group Process Council (GPC)….
OPEC acknowledges scale of shale boom as supply outstrips demand
OPEC for the first time is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives. The Organization of Petroleum Exporting Countries raised its expectation for supply growth from the U.S. and other producers for a fourth consecutive month, according to its monthly market report….
Shell, Eni misled Nigeria on oil spills —Amnesty Int’l
Royal Dutch Shell Plc and Eni SpA may have misled regulators in Nigeria by wrongly attributing oil spills to theft and sabotage in order to avoid paying compensation to affected communities, rights group Amnesty International said. “Amnesty International researchers have identified that at least 89 spills may have been wrongly labeled as theft or sabotage…
6th Joint IEA-IEF-OPEC workshop: Experts to discuss physical, financial energy markets
The International Energy Agency (IEA), the International Energy Forum (IEF) and the Organisation of the Petroleum Exporting Countries (OPEC) met today at the OPEC Secretariat in Vienna, Austria, to participate in the 6th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets. The high-level meeting was co-chaired by OPEC Secretary General, Mr Mohammad…
NEITI urges more transparency in oil, gas industry
The Nigeria Extractive Industries Transparency Initiative (NEITI) has said even though financial accountability has improved, the Nigerian National Petroleum Corporation (NNPC) still hasn’t explained billions of dollars of missing revenue. While energy producers have cooperated and complied with requirements to publish payments, NEITI has struggled with the state-owned NNPC, Executive Secretary of NEITI, Waziri Adio,…
NNPC delivers gas equivalent of 3,342MW —Reports
The Nigerian National Petroleum Corporation (NNPC), has disclosed that a total of 828 million standard cubic feet, mscf of gas per day was delivered to the gas-fired power plants in December 2017. This, the corporation said, enabled the power plants to generate an average of 3,342 Mega Watts, MW, a modest 11.4% increase over the…
ExxonMobil’s Senior Vice President, Mark Albers retires
Senior Vice President of Exxon Mobil Corporation, Mark W. Albers, has announced his intention to retire, effective April 1, 2018, after more than 38 years of service. Albers, 61, was elected to his current position as senior vice president and a member of the corporation’s Management Committee in 2007. Throughout his career, Albers held a…
ExxonMobil renews longstanding commitment to Women’s Economic Empowerment
In recognition of International Women’s Day, ExxonMobil announced today that it is providing $7 million in grants in 2018 to renew support for local and global organizations working to empower women economically. Grants made this year will continue ExxonMobil’s longstanding support for efforts to increase research into new methods to advance women economically, assist women…
Indonesia targets Nigerian crude oil, seeks partnership in oil trading
Nigerian crude oil has again proved its enormous prospects as the beautiful bride of the global oil market with Indonesia expressing the desire to buy more crude oil from Nigeria. The request was made by the Head of Economic Affairs of the Indonesian Embassy, Mr. Dwiyatna Widinugraha, who led a delegation from the country on…
