Energy

11 ships Discharging Petrol at Lagos Port

Eleven ships are presently discharging petroleum products and other commodities at Apapa and Tin-Can Island ports in Lagos, the Nigerian Ports Authority (NPA) said on Friday. NPA explained that the ships were at the ports discharging petrol, empty containers, butane and other products. The News Agency of Nigeria (NAN) reports that 28 ships laden with petroleum products, food items and other goods are ...

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Communities Drag Shell to British Court

Aside the damage already inflicted on its platform by Niger Delta militants, Shell Petroleum has been dragged to British court by two communities in the region. The communities, Ogale and Bille in Rivers state, have jointly filed a suit which is being heard by the Britain’s High Court. The communities accused the Anglo-Dutch Shell of fouling the waters and destroying ...

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NNPC Denies Plan to Increase Petrol Price

The Nigerian National Petroleum Corporation (NNPC) has again debunked report of plans to increase the pump price of petrol. Mr Garba Deen Muhammad, Group General Manager, Group Public Affairs Division of NNPC said on Monday NNPC was not empowered to increase prices of fuel. The corporation, he said, was not empowered statutorily to tinker with the pricing template of petroleum ...

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Cold Weather May Increase Oil Demand – IEA

The Paris-based International Energy Agency (IEA) on Tuesday said waning growth in OECD countries and decelerating economic pace in China would weigh heavy on the global oil demand growth which is set at 1.2 million barrels per day (bpd) this year. “Growth (of oil demand) continues to slow, dropping from a five-year high in Q3 2015 to a four-year low in ...

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Oil theft: Nigeria wants $406m from Shell

The Nigerian government  is demanding $406.75 million from Shell Petroleum Development Company of Nigeria Limited and its surrogate Shell Western Supply & Trading Limited over alleged crude oil theft. The amount, according to court papers in Lagos,  represents the shortfall of the money paid by the multinational oil firm in the account of the Nigerian government with Central Bank of Nigeria, ...

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OPEC Defies Output Cut, Pumps More Oil

The  oil output of OPEC  is likely to reach its highest in recent history in September, a Reuters survey found on Friday.This comes as Iraq boosted northern exports and Libya reopened some of its main oil terminals. The increase comes despite lower output in top exporter Saudi Arabia and this week’s agreement by the Organization of the Petroleum Exporting Countries ...

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Not Again!!! Saudi Arabia, Iran Dash Hopes for OPEC Oil Deal

Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week due to their utterances, a report says. The report quoted Saudi Arabia’s Energy Minister, Khalid al-Falih, as telling reporters in Algiers that “this is a consultative meeting. We will consult with everyone else, we will hear the views, we ...

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NNPC Inaugurates 4 Petrol Storage Tanks

The Nigerian National Petroleum Corporation (NNPC) on Tuesday inaugurated four petrol storage tanks at Monsinmi depot in Ogun to ease product distribution and operational constraints. Inaugurating the project, Dr Maikanti Baru, the NNPC’s Group Managing Director, said the dismantling and reconstruction of the tanks were relevant to restore strategic oil and gas infrastructure. According to him, Mosinmi depot has been ...

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Shell Nigeria Declines Comment on Avengers Sabotage

Shell Nigeria has kept mute over the latest sabotage of its pipeline, by the terrorist group, Niger Delta Avengers. The group claimed on Friday that it had broken its self-declared ceasefire by bombing the Bonny oil export pipeline. Shell on Tuesday declined  to confirm the  report or whether  oil export has been compromised. Spokesman Precious Okolobo said he could not comment on the incident, according ...

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TOTAL Backs Veterans with Modern Technology for Century-Old Engines

Pioneering automobiles from the 19th century will benefit from Formula 1 technology as leading oil and gas company, Total becomes a long term Official Lubricant Supplier to the famous Bonhams London to Brighton Veteran Car Run supported by Hiscox. Total first became involved in the Royal Automobile Club event last year and has now signed a three-year agreement which will ...

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