The Nigeria Upstream Petroleum Regulatory Commission, NUPRC, said it will soon unveil a new oil bid round during which 12 blocks in the continental shelf and deep offshore will be offered to bidders.
n its avowed bid to drive and grow sustainable investments in Nigeria’s upstream for energy security, national economic development, and return value to all stakeholders, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Thursday met in Lagos with members of the Oil Producers Trade Section (OPTS) and Independent Petroleum Producers of Group (IPPG) to fine-tune strategies for the year 2024 and beyond.
Now, green hydrogen can be produced and used in Nepal. A meeting of the Council of Ministers held on Wednesday passed a policy to allow the production and use of green hydrogen.
According to Industry, Commerce and Supplies Minister Ramesh Rijal, Wednesday’s meeting passed the policy to allow the production and use of green hydrogen.
THE Dangote Petroleum Refinery, regarded as the world’s largest single-stream refinery constructed in Lagos, Nigeria, has produced its first batch of refined petroleum products.
This was stated in a press release issued by the refinery’s owner company, Dangote Petroleum Refinery, on the social networking site X (formerly Twitter).
British multinational oil and gas company Shell has decided to sell The Shell Petroleum Development Company of Nigeria Limited (SPDC) – which owns onshore oil assets in Nigeria’s Niger Delta region – to a consortium comprising mostly local energy players ND Western, Aradel Holdings Plc, First E&P, the Waltersmith Group, Petroleum Development Company Limited and Petrolin. The transaction is measured at $1.3 billion, with further payments of up to $1.1 billion set to be made. The sale will come into effect following the relevant approval from government.
The decision by Shell, a global energy giant, to exit its onshore business in Nigeria has sent shockwaves through the country’s oil and gas industry, casting a spotlight on local firms and raising questions about the future of the industry.
The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and said 2025 will see a robust increase in oil use, led by China and the Middle East.
OPEC, in a monthly report, said world oil demand will rise by 1.85 million barrels per day in 2025. For 2024, OPEC saw demand growth of 2.25 million bpd, unchanged from last month.
More oil and gas tankers are now being diverted away from the Red Sea, with some companies and producers avoiding the route. Among the latest, Qatar appears to be sending liquefied natural gas vessels to Europe via the longer route around Africa
ANALYSTS have said that SHELL’s exit from the Nigerian onshore oil business will attract varying consequences for indigenous firms and the country’s foreign exchange market.
Higher global economic growth and solid activity in China will see robust world oil demand growth of 1.8 million barrels per day (bpd) in 2025, OPEC said on Wednesday in its first outlook into next year’s demand levels.