Civil Society Organizations, CSOs, have condemned the indifferent approach of the Federal Government of Nigeria to the abandonment of the OPL 245 Claim against Oil Companies, Eni and Shell.
Oil and gas supermajor, Eni, will invest $10 billion toward the development of the Baleine field offshore Ivory Coast. The investment will be made in three phases between 2023 and 2027 and will result in the production of 200,000 barrels of crude oil per day (bpd).
It’s undeniable that the Russian invasion of Ukraine proved highly disruptive to world energy markets. This geopolitical clash led to the imposition of Western sanctions on the export of Russian oil and fuel and the imposition of a price cap on Russian crude by the G7 group.
Europe has intensified efforts this year to protect its clean energy manufacturing industries and reduce dependence on China for its renewable energy rollout.
Despite the dramatic reaction of oil markets to news that the OPEC+ meeting would be postponed, oil prices are set to end the week with little real change as traders now await the outcome of the November 30th meeting.
Europe’s weaker natural gas demand in the autumn is now rising amid lower-than-usual temperatures in most areas and freezing weather expected to last until early December.
CHEVERON Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National Petroleum Company Limited (“NNPCL”) and CNL – (“NNPCL/CNL JV”), confirms that CNL is committed to partnership with various stakeholders including the communities neighbouring its areas of operations in the Niger Delta, for sustainable development.
The Italian multinational energy company Eni and the Libyan National Oil Corporation (NOC) discussed the exploratory programs planned for 2024.
The latest report that Nigeria lost $16 trillion to gas flaring in the 10 years to 2022 highlights the prevailing national culture of waste, andd the institutional failures that hamper the country’s development. In its 72nd edition of the ‘Statistical Review of World Energy 2023,’ the Energy Institute detailed how Africa’s largest economy lost the trillions due to natural gas flaring by oil producing companies between 2012 and 2022 despite a national programme decreeing an end to the practice. President Bola Tinubu should decisively stop the ludicrous enterprise on his watch.
Libya’s Oil and Gas Minister, Mohammed Oun, has accused some international oil companies (IOCs) operating in Libya of taking advantage of lax security in the country’s restive oil regions caught in fighting bouts since 2011, slacking off in implementing their development plans and seeking better contractual terms.