intent, Author at GUPC | Page 584 of 811

Shell to Sell Nigerian Onshore Assets to Consortium: African Energy Chamber ) Calls for …

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 19, 2024 | Comment off

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.

Shell’s $2.4bn asset sale spotlights local firms

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | January 19, 2024 | Comment off

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.

OPEC Leaves Forecast for 2024 Oil-Demand Growth Unchanged

Oil & Gas | intent | January 18, 2024 | Comment off

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.

Oil edges higher as Red Sea tensions raising crude market risks

Oil & Gas | intent | January 18, 2024 | Comment off

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

Red Sea crisis could impact gas prices nationwide

Energy | intent | January 18, 2024 | Comment off

Some industry experts believe conflict in the Middle East may cause gas prices in the U.S. to increase over the next six months to a year.

Implications of Shell divestment from Nigeria’s oil business – Experts

Oil & Gas‚ Oil and Gas Industry | intent | January 18, 2024 | Comment off

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.

Aramco CEO expects oil demand to rise in 2024

Uncategorized | intent | January 18, 2024 | Comment off

RIYADH — Saudi Aramco President and CEO Amin Nasser expected global demand for oil to rise by 1.5 million barrels per day (bpd) to 104 million bpd in 2024.

OPEC Sees Strong Oil Demand Growth in 2025

Oil & Gas‚ Oil and Gas Industry | intent | January 18, 2024 | Comment off

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.

Standard Chartered Thinks Oil Prices Are Flirting with Risk Denial

Oil & Gas | intent | January 18, 2024 | Comment off

Standard Chartered: sentiment in the oil and commodity markets closely mirrors the beginning of 2023.
Oil traders fear that market surpluses will be larger in the current year than they were last year.
Traders expect the U.S. and Europe, not China, to be the main sources of demand weakness this time around.

Gov’t eyes GNPC Explorco’s earnings for US$83.3m AEB subscription

Oil & Gas‚ Oil and Gas Industry | intent | January 17, 2024 | Comment off

The country is expected to fork out approximately US$83.4million by March 31, 2024 as its initial subscription capital to the recently proposed Africa Energy Bank (AEB), which it is seeking to host.

Author: intent