News

Royal Dutch Shell RDSa.L has hired Orsted's ORSTED.CO North America Chief Thomas Brostrom as Senior Vice President for its Global Renewable Solutions department starting next year, a Shell spokesman said on Friday.

Nigerian National Petroleum Corporation has said that national oil companies should set aside risk funds to minimise the impacts of unforeseen events.

Shareholders of Conoil Plc have unanimously approved the payment of N1.39 billion dividend proposed by the board of the Company, for the 2019 financial year.

The World Bank has said that oil prices won’t be rising much next year either but would average $44 per barrel, saying that prices will not recover to pre-pandemic levels at least until 2022.

SEPLAT Petroleum Development Company Plc has said it is driving the growth of the domestic gas market to power the economy particularly because of the energy shortfall in terms of electricity.

The Department of Petroleum Resources, DPR, has said the 5, 000 barrels per day Waltersmith Modular Refinery project in Imo State is ready for operations.

A resolution for the voluntary delisting of 11 Plc, formerly Mobil Oil Nigeria Plc, from the Nigerian Stock Exchange, has been approved by the company’s shareholders.

The Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, has said oil and gas companies raised over N400 billion across several asset classes using the platform in recent years.

The scarcity of petroleum products looms in Nigeria as some depots have reportedly stopped loading-trucks. The Nation reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) National Vice

A data from the American Petroleum Institute showed on Tuesday that U.S. crude oil stocks rose last week while gasoline and distillate inventories fell.