Tuesday, May 18, 2021
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Joseph Adam

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Oil advances on demand recovery hopes, but posts a loss for the week

Oil prices rose on Friday on hopes of a fuel demand recovery in the United States and Europe as economic growth picks up and...

Fayemi Commissions Chukwuma Nwoha Road in Owerri

The Chairman of Nigerian Governors Forum and Governor of Ekiti State, Dr. Kayode Fayemi has commissioned a major reconstructed road named after one...

Nigeria’s crude oil output plunges as Shell’s Forcados exports remains on force majeure over pipeline closures

Reopening of Trans Forcados Pipeline delayed after works Loadings have averaged 250,000 b/d in recent months Qua Iboe also remains on force majeure London — Nigeria's crude...

Global shift to green energy ‘could cost oil revenue reliant economies $13 trillion’ by 2040

A new report says that oil and gas producing countries face a multi-trillion-dollar hole in their government revenue. The report from the think-tank Carbon Tracker...

Oil recovery too fast for its own good

The OPEC+ alliance of oil producers will face a big test of its cohesion in a few weeks’ time, when ministers meet to discuss...

Oil Marketers Kicks against Plans to Raise PMS Freight Rate by 21.3%

The Major Oil Marketers Association of Nigeria (MOMAN) has faulted the plans to fix freight rate for Premium Motor Spirit (PMS), saying it could...

UTM Offshore Gets DPR’s License to Build LNG Plant

The Department of Petroleum Resources (DPR) has issued a license to UTM Offshore Limited for the establishment of an LNG production plant. UTM Offshore Limited...

Shell Re-evaluating Oil Operations Onshore Nigeria

Persistent issues with theft and sabotage in the Niger Delta could prompt Shell to take a hard look at its operations onshore Nigeria, the...

Equinor says it wins Nigerian case over Chevron’s Agbami oilfield funds

Nigeria's Supreme Court ruled in favour of Norwegian oil company Equinor in a long-running case over profit from its stake in the Agbami oilfield,...

FTN Cocoa Blames Inadequate Working Capital for N664m FY20 Loss

In the 2020 financial year, FTN Cocoa Processors Plc recorded a loss after tax of N664.1 million in contrast to the loss after tax...

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