Category: Oil & Gas

Shell, TotalEnergies Q2 Revenues Hit $21.3bn, Surpass Industry Forecasts

Abibat Babalola

Global energy giants Shell and TotalEnergies have posted record Q2, profits and have extended share buybacks after beating industry forecasts. Both firms beat record-breaking previous quarter on the back of soaring crude, gas and oil product prices. The two companies combined are buying back $8 billion in shares in the third quarter after recording their respective highest quarterly profits while keeping their dividends steady, which might disappoint some investors. READ ALSO: Vehicle Crushes Five Ogun Motorcyclists, Kills Three Oil Firms Evade $6.4bn Taxes Payment To Nigeria, NEITI Kicks Nigeria’s Oil…

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JUST IN: 79,000 Staff, Investment For Review As Buhari Unveils “new NNPC”

ADEOLA YUSUF

BUSINESS UNUSUAL: Platforms Africa reports that baggage and burden of old NNPC to be shed through the right-sizing of unnecessary investments and bloated staff strength, while the sale of shares through IPO will begin in phases   Nigerian President Muhammadu Buhari on Tuesday, July 19 unveiled the new Nigerian National Petroleum Company Limited ( NNPC LTD) in a ceremony that officially marks the transitioning of the oil firm from a state-run entity to a fully commercialised oil company, limited by shares. Platforms Africa reports that with this development, the oil…

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Why We Offered Barkindo Post-Humous Award – NAEE

ADEOLA YUSUF

Even in death, a King! How presentations wil be done by Internationally respected cerebral energy economist, Professor Wumi Iledare   Nigeria Association of Energy Economics ( NAEE) will, tonight (Monday, July 18) at Abuja, offer a Posthumous Fellowship Award to Global Energy Leader and OPEC SG, HE Dr Mohammad Sanusi Barkindo, who passed on a few days ago in Abuja. Platforms Africa reports that the event, slated for 7pm at PTDF, is in recognition of Barkindo’s impressive achievements in the global energy Industry. An anticipated cynosure of the programme ,…

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NAPE Rallies Oil Blocks’ Buyers, Sellers For Divestment Benefit Discourse

Abibat Babalola

The Nigerian Association of Petroleum Explorationist (NAPE) said that it would lead critical conversation on Divestment via a workshop to examine the overall Nigerian oil & gas divestment activities. This, the group said in a statement to Platforms Africa, is to enable the identification of opportunities for all, including local players, operators, servicing companies and upstream to midstream to downstream infrastructure owners. Themed ‘The Big Sale: Opportunities in the Nigerian Oil & Gas Industry from Assets Divestments, the workshop is slated for Lagos, Nigeria’s commercial capital. READ ALSO EXCLUSIVE: Buhari…

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Oil Firms Evade $6.4bn Taxes Payment To Nigeria, NEITI Kicks

Ganiyu Amodu

Why we threatened action against oil and gas companies that failed to remit outstanding taxes, royalties and levies to the Federation Account – Industry Transparency Initiative Boss   The Nigeria Extractive Industries Transparency Initiative, NEITI, has threatened action against oil and gas companies that failed to remit outstanding taxes, royalties and levies to the Federation Account amounting to about $6.4 billion (N2.66 trillion). NEITI noted that while a large portion of the amount has been paid by defaulting companies, it warned that it will instigate action against those that have…

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Meet Osagie Okunbor, 2022 Oil Industry Lifetime Award Winner

Efe Wellington

Here is what the surprised but elated Shell Country Chair/MD said after winning the exalted laurel named in honour of one of the founding fathers of the Organization of the Petroleum Exporting Countries (OPEC), Alirio Parra   Mr. Osagie Okunbor, Country Chair of Shell Companies in Nigeria and Managing Director of Shell Petroleum Development Company of Nigeria Limited (SPDC), won Dr. Alirio Parra Lifetime Achievement Award at Nigeria Oil and Gas Industry for 2022. Named in honour of the late Venezuelan Minister of Petroleum and one of the founding fathers…

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Nigeria’s Oil Output Hits 37.14m in 30 Days – OPEC

ADEOLA YUSUF

Country’s Oil Production Averaged 1.238m bpd in June – OPEC The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in June 2022. This, data compiled by Platforms Africa showed, is 37.14 million barrels in 30 days of June 2022. OPEC made this known in its Oil Market Report for July 2022 which was obtained by Platforms Africa on Tuesday in Lagos. The report said the figure showed an increase of 5,000 barrels per day when…

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Community Disrupts OML 30 Operations Over Kinsmen Sack

Abibat Babalola

  The indigenes of Olomoro Community in Isoko South Local Government Area of Delta Stat have shut down operations of Oil Mining Lease 30 operated by the Heritage Energy Oil Services Limited. The aggrieved indigenes of the host community on Sunday converged on the entrance of the oil firm in a peaceful protest. READ ALSO EXCLUSIVE: Buhari Removes Ag Accountant-General 28 Days After Appointmentl EXCLUSIVE: Buhari Declines Ministerial Consent For ExxonMobil $1.6bn Assets’ Sale To Seplat Oil Theft: Fact And Figures Of A National Emergency, By Adeola Yusuf Shell, Host…

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Oil Mogul Kidnapped in 2019 Abducted Again by Gunmen in Kogi

Dawud Rabiu

Chairman and Chief Executive Officer of Always Petroleum and Energy Service Limited had just returned from the Eid praying ground in Okene at about noon when gunmen stormed his residence and took him away   Gunmen have again abducted the Chairman and Chief Executive Officer of Always Petroleum and Energy Service Limited, Alhaji Mohammed Jamiu. Recall that gunmen had in 2019 abducted the oil magnate from one of his petrol stations, but he was rescued by the military. This time around, Jamiu was abducted on Saturday at his residence in…

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