Oil & Gas

Shell still liable for tens of billions in clean up after Nigeria asset sale

Ihesiulo Grace 21 May 2025 0

Shell will retain legal liability and moral responsibility for the clean-up of historic pollution in the Niger Delta if the buyer of its Nigerian subsidy SPDC cannot pay, warn impacted community members and international supporters as investors meet for the Shell plc Annual General Meeting

Oil & Gas

Nigeria’s non-oil exports rose to $1.79bn in Q1 2025, up 24.75%

DailyTimesNGR DailyTimesNGR 29 April 2025 0

BY MOTOLANI OSENI Nigeria’s non-oil export earnings surged to $1.791 billion in the first quarter of 2025, marking a 24.75 per cent increase over the $1.436 billion recorded in the same period last year, according to the Nigeria Export Promotion Council (NEPC). Presenting the 2025 First Quarter Progress Report in Abuja, NEPC Director-General, Dr. Nonye […]

Oil & Gas

Nigeria’s oil export market struggles as unsold cargoes mount

DailyTimesNGR DailyTimesNGR 26 April 2025 0

BY MOTOLANI OSENI Nigeria’s oil-dependent economy is facing renewed pressure as a large volume of its crude oil exports for April and May 2025 remains unsold, threatening government revenue projections and deepening concerns in the energy sector. More than half of the country’s planned shipments, including popular grades like Bonny Light, Forcados, Qua Iboe, and […]

Oil & Gas

Oil prices rebound over new Iran sanctions and stock market gains

DailyTimesNGR DailyTimesNGR 23 April 2025 0

Oil prices climbed more than $1 a barrel on Tuesday, recovering from the previous session’s steep losses, as new U.S. sanctions on Iran and a rally in global equities reignited investor appetite. Brent crude rose $1.74 to $68 per barrel, while U.S. West Texas Intermediate gained $1.96 to $65.04 for May delivery, and the June […]

Oil & Gas

Nigerian Petroleum Engineers Institute to drive oil industry growth

DailyTimesNGR DailyTimesNGR 21 April 2025 0

The Nigerian Institution of Petroleum Engineers (NiPeTE), a division of the Nigerian Society of Engineers (Formerly the Petroleum Division) plans to rebrand as the Nigerian Institute of Petroleum and Gas Engineers, as part of a strategic move to enhance professionalism and drive growth in Nigeria’s oil and gas sector. Chairperson of NiPeTE, Engr. Prisca Kanebi, […]

Oil & Gas

Revenue loss grips Nigeria, others over oil price drop

DailyTimesNGR DailyTimesNGR 17 April 2025 0

BY MOTOLANI OSENI Oil price drop is biting exporters disproportionately with Nigeria and other oil export dependent economies taking the heat. A steep drop in crude oil prices largely due to U.S. President Donald Trump’s tariffs is reportedly squeezing budgets of emerging market oil exporters, analysts said, while the potential economic slowdown could also curb […]

Oil & Gas

Africa’s oil & gas investment to reach $43bn in 2025

DailyTimesNGR DailyTimesNGR 9 April 2025 0

BY MOTOLANI OSENI Africa’s energy sector is gaining unprecedented momentum, with capital expenditure in oil and gas alone projected to reach $43 billion in 2025 — and a longer-term forecast of $54 billion by 2030. This surge highlights the continent’s rising profile as a global energy force, driven by strong developments across oil, gas, power, […]

Oil & Gas

Nigeria’s oil output slumps by 50,000 barrels daily in March

DailyTimesNGR DailyTimesNGR 3 April 2025 0

Nigeria’s oil production output nosedived by 50,000 barrels a day to an average of 1.5 million per day, in line with its quota. Also, loading of the country’s Bonny Light crude grade faced delays following a fire at the Trans-Niger Pipeline. This is as the Organisation of Petroleum Exporting Countries (OPEC) reduced crude oil production […]

Oil & Gas

Aradel Holdings declares N95.59bn dividend as profit soars to N259.1bn

DailyTimesNGR DailyTimesNGR 2 April 2025 0

BY MOTOLANI OSENI Aradel Holdings Plc has proposed a final dividend of N95.59 billion, representing N22.0 per share for the year ended December 31, 2024, even as it reported a net tax profit of N259.1 billion in its audited results for the year under review. Further analysis of the company’s financial review showed that, revenue […]

Oil & Gas

Shell cuts annual spending to $20bn, crashes carbon intensity emissions

DailyTimesNGR DailyTimesNGR 2 April 2025 0

BY MOTOLANI OSENI Shell has outlined plans to reduce its annual spending to $20 billion from $22 billion over the next three years. Shell has equally announced plans to ramp up cost savings and reduce spending while aiming to deliver more value with lower emissions, in spite of having weakened its carbon reduction pledge in […]

Oil & Gas

Port Harcourt Refinery to receive three Bonny Light crude cargoes

DailyTimesNGR DailyTimesNGR 2 April 2025 0

BY GODWIN ANYEBE The 210,000 barrels a day (b/d) Port Harcourt refinery, has been allocated three cargoes of domestic light sweet crude Bonny Light in April-May. This follows report by traders, suggesting that any issues affecting receipts in February and March might have been resolved. The refinery which restarted operations late last year following a […]

Oil & Gas

Crude oil price rises over $74 as U.S. sanctions tighten supply

DailyTimesNGR DailyTimesNGR 31 March 2025 0

Brent crude futures climbed 8 cents (0.1%) to $74.11 per barrel as of 0949 GMT on Friday, extending an eight-day winning streak—the longest since May 2022. U.S. West Texas Intermediate (WTI) crude also edged up 5 cents (0.1%) to $69.97 per barrel. Both benchmarks have gained about 2.5 per cent this week and nearly 7 […]

Oil & Gas

Oil prices climb on Middle East tensions, US sanctions, China stimulus

DailyTimesNGR DailyTimesNGR 23 March 2025 0

BY MOTOLANI OSENI Oil prices posted a weekly gain as geopolitical uncertainties and economic developments drove market sentiment. Escalating tensions in the Middle East, fresh US sanctions on Iranian crude exports, and China’s latest economic stimulus measures supported the bullish momentum. Brent crude rose to $71.22 per barrel on Friday, marking a 1.4 per cent […]

Oil & Gas

Tari Yvonne Elete Receives Recognition for Groundbreaking Research in Oil and Gas Sector

Ihesiulo Grace 14 March 2025 0

Tari Yvonne Elete, a trailblazer in the oil and gas industry, has been honored with Best Paper of the Year awards from two esteemed journals: The International Journal of Applied Research in Social Sciences (IJARSS) and The International Journal of Management and Entrepreneurship Research (IJMER). Her work, recognized for its transformative impact, is a testament […]

Oil & Gas

Seplat Energy’s revenue hits N1.652trn, declares $16.5c dividend

DailyTimesNGR DailyTimesNGR 8 March 2025 0

BY MOTOLANI OSENI Seplat Energy Plc has posted revenue of N1.652 trillion in its audited results for the year ended December 31, 2024. The company’s results revealed strong operational and strategic progress in 2024 culminating with the transformational acquisition of Mobil Producing Nigeria Unlimited (MPNU), renamed Seplat Energy Producing Nigeria Unlimited (SEPNU).

Oil & Gas

Engineering Excellence and Project Mastery in Nigeria’s Oil and Gas Sector

Ihesiulo Grace 7 March 2025 0

In the complex world of deepwater oil and gas operations, few names resonate with the depth of experience, innovation, and leadership quite like Emmanuella Onyinye Nwulu. As a Cost Engineer and Electrical Engineer at Shell Nigeria Exploration and Production Company (SNEPCo), Nwulu has built a career defined by technical brilliance, cost efficiency, and process

Oil & Gas

OPEC puts pressure on countries with overproduction data

DailyTimesNGR DailyTimesNGR 5 February 2025 0

The Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC countries has decided to critically examine and evaluate oil production levels of countries known to have transgressed against and contravened its production quotas. It however welcomed renewed pledges by the overproducing countries to achieve full conformity with production targets and resolved that the

Oil & Gas

Celebrating women in oil and Gas: The inspiring Journey of Stella Chinyere Emeka

Ihesiulo Grace 20 January 2025 0

In a world where women have traditionally been underrepresented in the oil and gas industry, Stella Chinyere Emeka-Okoli (Nee Nwankwo) stands as a beacon of hope and inspiration for young girls and women aspiring to break barriers. As the Corporate Relations Adviser -Non Technical Risk Integration (NTRi) – Deepwater Projects for one of Nigeria’s leading […]

Oil & Gas

A Legacy of Leadership and Innovation in Nigeria’s Energy Sector

Ihesiulo Grace 7 March 2024 0

Peter Egbumokei is an industry stalwart whose remarkable career spans over two and a half decades in Nigeria’s energy sector, making profound contributions to the development and management of some of the country’s most significant gas and power projects. His journey, marked by leadership, technical expertise, and strategic foresight, has helped shape the

Oil & Gas

Celebrating Dr. Magnus Kanu: A Geophysics Trailblazer in Oil and Gas

Ihesiulo Grace 7 March 2024 0

In a field that demands both technical excellence and visionary leadership, Dr. Magnus O. Kanu has firmly established himself as one of the most distinguished geophysicists in the oil and gas sector. With a career spanning over two decades, Dr. Kanu’s remarkable contributions have earned him multiple prestigious awards and commendations, solidifying his reputation as […]