More

Eni sees profits drop during first half of the year

Aug 2, 2013

Italian company Eni saw profits drop during the first half of the year as lower oil prices and production hit revenue. Eni posted a net profit of €1.8 billion ($2.4 billion) for the first half of the year, down 52.7% on the €3.8 billion booked during the first six months of 2012. The fall in…

Read More

OPEC daily basket price closes at $104.97/b

Aug 1, 2013

The price of OPEC basket of twelve crudes stood at 104.97 dollars a barrel on Wednesday, compared with $104.92 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra…

Read More

Shell profits eroded by rising costs, oil theft in Nigeria

Aug 1, 2013

Rising costs and a surge in oil thefts in Nigeria, among other factors, hit Royal Dutch Shell’s second quarter profits, a result that outgoing chief executive Peter Voser called “disappointing”. Shell said it took a $700 million hit for Nigeria thefts – which it said cost Nigeria itself $12 billion a year – and for…

Read More

Our role in the $1.09bn Malabu oil deal – Shell

Jul 31, 2013

Shell Nigeria Ultra Deep Limited, SNUD, is in the centre of the Malabu Oil deal, for which it is being investigated by the British police. The Nation has obtained documents filed at the International Centre for Settlement of Investment Disputes. The controversy over the $1.092, 040,000 Malabu Oil deal continues with one of the parties,…

Read More

Power supply may worsen as Agip workers’ go on strike

Jul 31, 2013

Nigeria’s epileptic power supply may get worse as some protesting oil workers at the Nigeria Agip Oil Company, NAOC\, at Okpai, in Ndokwa East Local Council of Delta State, have laid down tools. NAOC operates Okpai gas plant, which supplies gas to the 480 megawatts power plant located in the community. Their spokesman, Mr. John…

Read More

Senate summons Halliburton, Shell, others over violation of expatriate laws

Jul 31, 2013

Some major multinational oil exploration and construction companies, including Halliburton and Shell, would be appearing before the Senate over violation of expatriate regulations. The erring companies, which are accused of flagrant abuse of expatriate laws, are expected to give details of their compliance to expatriate and labour laws when they appear before the Senate Committee,…

Read More

OPEC daily basket price closes at $104.92/b

Jul 31, 2013

The price of OPEC basket of twelve crudes stood at 104.92 dollars a barrel on Tuesday, compared with $105.21 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra…

Read More

JTF arrested 608 suspected oil thieves, seized 24 vessels in first half of 2013

Jul 31, 2013

The Joint Task Force in the Niger Delta code-named ‘Operation Pulo Shield’, said it has arrested 608 suspected oil thieves in 594 raids carried out between January and June. The JTF spokesman, Lt. Col. Onyema Nwachukwu, told the News Agency of Nigeria, NAN, in Yenagoa that oil theft was consequently on the decline. “So far,…

Read More

NNPC’s Duke Oil records 290% increase in crude revenue from trading

Jul 31, 2013

The Nigerian National Petroleum Corporation, NNPC’s, involvement in international crude trading has over time recorded substantial increase in volume and revenue, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has said. Alison-Madueke disclosed at the 2013 ministerial platform to underscore the ministry’s scorecard as part of the mid-term achievement of President Goodluck Jonathan administration, that…

Read More

FG set to begin online registration of businesses; expands 24 hour business registration across country

Jul 31, 2013

The Ministry of Industry, Trade and Investment  has said it has concluded plans to ensure that Nigerians in Diaspora and foreigners planning to register their businesses in the country can do so online from any part of the world in the next two months. The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...