ExxonMobil remains focused on growing its core oil and gas business as alternative renewable energies are mostly unable to offer attractive rates of return compared to hydrocarbons, a top official at the US oil giant said Sept. 30. Asked why ExxonMobil is still planning to grow its future oil production while European oil majors are…

Nigeria is considering selling shares in its state oil company, which dominates Africa’s biggest petroleum industry and has been central to corruption scandals that have wracked the West African nation since crude was discovered there in the 1950s. Legislation two decades in the making is working its way through parliament that would make the Nigerian…

President Muhammadu Buhari has defended the current price of fuel in the country, stating that a responsible government must face realities. In his Independence Day Speech, President Buhari stated that while petroleum prices are to be adjusted, the government must take tough decisions. The president compared the oil price in Nigeria to those of neighbouring…

Savannah Energy PLC, the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, is pleased to announce its unaudited interim results for the six months ended 30 June 2020 together with a trading update up to 31 August 2020 and outlook for the FY 2020. Andrew Knott,…

ADM Energy plc (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, announces its interim results for the six months ended 30 June 2020.   Investment Highlights: 5% equity investment in the Aje field, part of OML 113 offshore Nigeria · Operations largely unaffected by COVID-19 and oil production continued throughout the period,…

Royal Dutch Shell has said it plans to cut 7,000 to 9,000 jobs as it responds to challenges including the slump in oil demand amid the Covid-19 pandemic. The oil giant said the cuts would be implemented by 2022 and included 1,500 people who were taking voluntary redundancy. It gave no indication of where the…

Jonah Gbemre often has no electricity, but he says his home is permanently lit at night by the flames of waste gas being “flared” near his home town in Nigeria’s Delta State. Like Gbemre, nearly half of Nigerians have no stable power supply, yet government attempts to harness gas belching from its oil fields to…

The Petroleum Industry Bill 2020 passed first reading on the floor of the Senate during plenary on Wednesday. The Leader of the Senate, Yahaya Abdullahi, presented the proposed legislation and the President of the Senate, Ahmad Lawan, read the bill for the first time. The PUNCH reports that the leadership of the National Assembly had,…

Oil and gas companies operating in Niger Delta spilled 3,346.94 barrels of crude oil, an equivalent of 532,078 litres, in eight months, from January to August 2020, according to data obtained from the National Oil Spill Detection Response Agency, NOSDRA. The agency established by the National Assembly of the Federal Republic of Nigeria Act of…