By Eyo Nsima Capt Idahosa Okunbo, a billionaire oil magnate and Chairman of Ocean Marine, has passed on In London. The family has not yet disclosed the cause of his death, but unconfirmed sources attributed it to cancer. Until his death, he was the Chairman of Ocean Marine Solutions, with the mission to, “To enhance
BREAKING: Capt. Idahosa Okunbo, Chairman, Ocean Marine dies in London Read More »
Bonny Light price drops further to $70 per barrel By Eyo Nsima The price of Bonny Light, Nigeria’s premium oil grade, has dropped further to $70 per barrel, from $72 recorded early this week. The drop in the price of the crude and other crudes was attributed to the resurgence of the Coronavirus pandemic and
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DPR deploys inventory tool to check PMS diversion As subsidy costs weigh down government interventions due to rising consumption of premium motor spirit (PMS) occasioned by smuggling and sharp practices in the downstream sector, the Department of Petroleum Resources (DPR) has set a December deadline for filling stations to register on its Downstream Remote Monitoring
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Brazil: TotalEnergies launches Phase 4 on the Giant Mero Field Development TotalEnergies and its partners have taken the investment decision for the fourth phase of the Mero project (Libra block), located deep offshore, 180 kilometers off the coast of Rio de Janeiro, in the prolific pre-salt area of the Santos Basin. The Mero 4
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OPEC Daily Basket – August 2, 2021 OPEC daily basket price stood at $73.89 a barrel Monday, 2 August 2021, compared with $74.98 the previous Friday https://www.opec.org/opec_web/en/press_room/6291.htm
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Nigeria promises to assist Senegal to grow oil, gas industry By Eyo Nsima Nigeria has promised to assist Senegal, to develop its oil and gas industry, in the spirit of regional cooperation. The Minister of State Petroleum Resources, Timipre Sylva, who made the promise when he received a Senegalese delegation led by Minister of Petroleum,
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…declares interim dividend of 2.5 cents per share Seplat Energy Plc recorded an impressive half year (H1) 2021 scorecard with profit before deferred tax (PBT) of $62.1million, representing an increase of 142.7percent as against H1’20. Highlights of the company’s financial further show that revenue went up 32percent to $308.8 million in H1’21, from $233.5million in
Seplat grows half year profit before deferred tax by 142.7% Read More »
The Nigerian National Petroleum Corporation (NNPC) and its partners in the Oil Mining Lease (OML 130) Production Sharing Agreements (PSA) and Production Sharing Contract (PSC) are set to earn over $760m from fresh Gas Supply Purchase Agreements (GSPAs) and Gas Entitlement Agreement (GEA) executed Thursday at the NNPC Towers. The agreements which are part of
NNPC, Partners to rake in over $760million Revenue from OML 130 Gas Supply Agreements Read More »
World energy giant, Shell, has named Elohor Aiboni as the Managing Director of its Nigeria deep-water business, Shell Nigeria Exploration and Production Company Limited (SNEPCo) with effect from 1st August 2021. Elohor is the first female to lead a Shell exploration company in the over 60 years of Shell’s operations in Nigeria. She succeeds Bayo
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TotalEnergies and Apache Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi and Keskesi. Located 4 kilometers south-east of the Sapakara West-1 discovery, Sapakara South-1 was drilled in a water depth of about 850 meters. Sapakara
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