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,

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 […]

Oil & Gas

Lawani Raymond Leads High-Density Gravel Pack Innovation for Nigeria’s Landmark Assa North Gas Development

Ihesiulo Grace 28 February 2024 0

As Nigeria ramps up its natural gas production to meet soaring domestic and export demands, the successful completion of the Assa North-Ohaji South (ANOH) gas development project marks a turning point in the country’s energy strategy. At the center of this groundbreaking project is the pioneering work of Lawani Raymond, whose technical expertise and collaborative […]

Oil & Gas

PIA implementation: HOSTCOM leaders debunk reduction of 3% allocation story

DailyTimesNGR DailyTimesNGR 28 October 2023 0

By Haruna Salami The leaders of host communities (HOSTCOM) producing oil and gas in Nigeria have debunked media reports that the 3% allocation for host communities in the Petroleum Industry Act (PIA) has been reduced . One of the national dailies had on Tuesday this week, reported that the 3% operational cost oil companies in […]

Oil & Gas

Revolutionising Offshore Seismic Acquisition: Mr. Elemele Ogu’s Cutting-Edge Approach to Data Optimization and Sustainability

Ihesiulo Grace 20 April 2023 0

Offshore oilfields have long been the battleground for seismic data acquisition, with companies facing the dual challenge of ensuring high-quality data while managing the complexities of dynamic environments. In a bold leap forward, Mr. Elemele Ogu, an esteemed researcher from TotalEnergies Exploration & Production Nigeria Limited, has unveiled a groundbreaking

Oil & Gas

Nigeria to account for 24% of oil gas projects in Africa

Ihesiulo Grace 10 June 2022 0

By Godwin Anyebe Nigeria has been projected to account for about 24 per cent of the total projects starting up in Africa by 2026, with more than 100 oil and gas projects expected to commence in Nigeria during the forecast period. According to reports shared by GlobalData, among the upcoming refinery projects in Nigeria, the […]

Oil & Gas

NNPC redeploys staff, names new spokesperson

Ihesiulo Grace 10 August 2021 0

The Management of the Nigerian National Petroleum Corporation (NNPC) has announced the promotion and redeployment of some staff to fill key vacant positions in the corporation. The corporation made this known in a statement by its spokesperson, Dr Kennie Obateru, in Abuja on Monday. It stated that the appointments and redeployments were to strengthen and […]

Oil & Gas

PIB: Sylva tasks host communities on management of three percent equity

Ihesiulo Grace 7 August 2021 0

The Minister of State for Petroleum Resources, Timipre Sylva, has tasked the people of Niger Delta on effective utilisation of the three percent equity provided for development of host communities in the Petroleum Industry Bill (PIB). Sylva stated this when he played host to some leaders and elders of an Ijaw group who visited him […]