Stakeholders seek collaboration to boost regional oil output
Poised to ensure energy sufficiency in the Sub-Saharan Africa, concerned stakeholders in the sector have called for partnership among operators to improve output in the region
New technologies emerge to rescue oil industry
With the price of crude plumbing lows not seen since 2009, Royal Dutch Shell, Whiting Petroleum Corp and many others are turning to rocket fuel, Big Data, lasers, spectrometers and other new or revamped technologies to do more for less
Political transition: Traders optimistic on Nigeria’s oil exports
Although, reports showed that the West African crude trading diverged last week, as Angolan selling and differentials versus dated Brent fared better than Nigerian grades. Traders said steady buying from Chinese and European refiners who prefer Angolan grades is helping to support the differentials and clear out the May programme, whereas Nigerian cargoes are struggling to sell.
Shell’s capital investment hits $37.3 billion
Shell received $14.7 billion income and returned $11.8 billion to its shareholders through dividends in 2014. The company, which made this disclosure in its 2014 sustainability report released at the weekend, said that its total capital investment of $37.3 billion by the company in 2014 would help to build and sustain business for the future.
Govt unveils plans for electricity sector in 2015
The Presidential Task Force on Power (PTFP) has set a target of 5,000 Mega Watts (MW) of electricity for the second quarter of this year.
Oyo oil well set for production, says CAMAC
Nigeria’s oil and gas production may soon receive a boost, courtesy CAMAC Energy Incorporation, following the completion of drilling operations on its Oyo-8 well in the offshore basin.
‘LED bulb cannot save 1,200MW of electricity’
The minister recently called for ledification of homes and streets. Do you think that is what the country needs right now? LED bulbs can be utilized in Nigeria in view of their advantage over the popular incandescent bulbs presently in use in Nigeria. Because LEDs are made from a solid material, they are much more durable than incandescent bulbs. Dropping or bashing an LED by accident is not as big a risk as it is with an incandescent light which will smash, rendering it inoperable and dangerous due to broken glass.
Nigeria’s oil sector contributes 8.97 per cent to GDP in fourth quarter
Nigeria’s oil sector contributed approximately 8.97 per cent to real Gross Domestic Product (GDP) in the last quarter of 2014, according to National Bureau of Statistics.
Shell reviews onshore gas projects
THERE are indications that the Shell Petroleum Development Company (SPDC) has begun the processes of reviewing some large gas projects onshore Nigeria.