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Energy

Seplat Energy Releases Statement on Status of CEOs Residency

Seplat Energy Plc says it has become aware of news reports following a letter regarding the residency status of its Chief Executive Officer (CEO),...

Seplat Energy Profit Slumps on $36.05 million Shortfalls

Seplat Energy Plc’s 2022 profit took a deep dive as losses associated with underlifts and disposal of fixed assets prevented the downstream oil and...

Fuel Subsidy to Gulp 95% of Nigerian Government’s Revenue

Assuming fuel subsidy continues all through 2023, 95 percent of government revenue will be spent on subsidy, thereby limiting expenditure on crucial infrastructure needed...

NNPC Limited Ends Operations as Government’s Corporation, Takes over Old NNPC’s $60bn Assets

The Nigerian National Petroleum Company Limited (NNPCL) yesterday officially marked the end of its operations as a corporation after the transfer of assets worth...

Russian oil Industry Thriving Under Western Sanctions – Bloomberg

Russian oil companies conducted the most drilling at their fields in over a decade last year, showing no signs that international sanctions or the...

Russia to Cut Oil Production by 500,000 Barrels Per Day in Response to Sanctions

Russia will voluntarily reduce oil production in March by 500,000 barrels per day as it halts sales to buyers complying with a Western-imposed price...

Goldman Sachs Predicts Imminent Oil Price Surge

Oil will soar back above $100 a barrel this year, while dwindling global output and declining production in Russia due to Western sanctions may...

Auditors Flag Geregu Power N46.1bn Receivables Amid Afreximbank Talks

Geregu Power’s N46.1 billion in trade receivables is a sticking point for its auditors, as the Electricity Generating Company or GENCO is in talks...

Petrol Scarcity Will End in Two Weeks – IPMAN

The Independent Marketers Association of Nigeria has disclosed that the Premium Motor Spirit, known better as petrol, will be available and affordable soon. The IPMAN...

Russia Bans Oil Exporters From Adhering to Western Price Caps

The Russian government on Monday banned domestic oil exporters and customs bodies from adhering to Western-imposed oil price caps on Russian crude. The measure was...

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