Day: February 23, 2022

Oil Regulator Gave Go-ahead For Us To Offload Off-spec Petrol -Duke Oil

Ayobami Adedinni

Oando, Duke Oil open up on off-spec petrol import during appearances before Reps Committee Duke oil has said that it received a go-ahead from the Nigerian oil industry regulator before discharging the cargo of premium motor spirit also known as petrol that later turned out to be tagged an off-spec product. Platforms Africa reports that this was made known at a public hearing, in which the Managing Director of Duke Oil, Lawal Sade said that the product his company imported was certified okay both at the port of loading and…

Read More

BREAKING: Five Sacked LASU Lecturers Reinstated + NAMES

Tade Salako

Affected ASUU leaders who were sacked by the Prof. Adebayo Ninalowo-led governing council under the Vice Chancellor, Prof. Olanrewaju Fagbohun, are to get letters next week The Governing Council of Lagos State University (LASU) on Wednesday approved the reinstatement of five sacked union leaders of the Academic Staff Union of Universities (ASUU). There governing council decision followed the recommendations of the Appeal Committee headed the Deputy Vice Chancellor, Prof. Adenike Boyo, for the affected five lecturers to be reinstated. Among the union leaders reinstated include, ASUU-LASU chairman, Dr. Akinloye Isaac…

Read More

Enugu LG Polls: Three feared dead as gunmen attack polling units

Precious Ibekwe

Unknown gunmen, Wednesday, disrupted voting exercise at two polling units, as residents of Enugu State filed out to participate in the local government election. The poll was conducted in the 17 local government areas of the State. Platforms Africa reports that the exercise progressed peacefully across the State until news filtered in that unknown gunmen, who were against the conduct of any form of election, were wrecking havoc in Obeagu area of the State. It was learnt that the gunmen invaded the polling units at Obeagu ward III and another…

Read More

Oil Spikes, Hits $97.70 Per Barrels

Efe Wellington

Oil spiked following a televised address by Russian President Vladimir Putin, which revealed the Russian leader’s next move regarding Ukraine. In the speech, Putin recognized the self-proclaimed separatist republics that Russia backs in eastern Ukraine, Bloomberg highlighted, adding that this action intensified a standoff with the West. Following the address, the price of Brent Crude oil was up more than four percent to $97.70 per barrel and the price of West Texas Intermediate (WTI) was up almost four percent to $94.67 per barrel, at the time of writing. This time…

Read More

TotalEnergies Makes New Significant Oil Discovery

Efe Wellington

TotalEnergies has announced that it and APA Corporation have made a “significant” new oil and associated gas discovery at the Krabdagu-1 well in the central area of Block 58, offshore Suriname. Krabdagu-1, a report by Rigzone read, was drilled at a water depth of 2,559 feet and encountered approximately 295 feet of net oil pay in good quality Maastrichtian and Campanian reservoirs, TotalEnergies revealed. Further operations will be carried out on Krabdagu-1 to appraise the resources and productivity, according to TotalEnergies, which noted that at least three further exploration and…

Read More

Meet Olalekan Ogunleye, NLNG New Deputy MD, Mai-Bornu’s Successor

ADEOLA YUSUF

Mr Ogunleye, who is concluding his tenure as Managing Director and Chief Executive Officer of Gas Aggregation Company Nigeria Limited (GACN), will take over from Engr. Mai-Bornu on 14th April 2022. The Board of Directors of Nigeria LNG Limited (NLNG) has approved the appointment of Mr Olalekan Olufemi Ogunleye as successor to Engr. Sadeeq Mai-Bornu as Deputy Managing Director of the Company. Engr. Mai-Bornu, appointed by the NLNG Board in April 2016, will return to his parent company, Nigerian National Petroleum Company Limited (NNPC), at the expiration of his tenure.…

Read More

Nigeria’s Oil Royalty, Taxes From Shell Crumble by $3.7bn in One Year

ADEOLA YUSUF

Shell: No plan to exit Nigeria, and real reason we paid $4.6bn royalty in 2019 but $900m in 2020 Nigeria, Africa’s biggest crude oil exporter, has suffered a crash of $3.7 billion on taxes and royalties it received from Shell Companies in Nigeria (SCiN) in just one year. Platforms Africa reports that the figures of transactions and operations expressly published by the oil major in its Briefing notes, also showed a bearish business between 2019 and 2020. In 2019, a whooping $4.6 billion was, according to the Briefing Notes, paid…

Read More