Industry

French multinational oil company, Total has said it would change its name from Total to TotalEnergies to emphasise its strategy to become a net-zero emissions company.The firm says the decision show its commitment to cleaner energy. …
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Minister of State for Petroleum Resources Chief Timipre Sylva has said the Federal Government revoked the licence for the Atala Marginal Oilfield (OML 46) because it was dormant for many years. Sylva said the Bayelsa State government…
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Nigeria sold $2.89 billion worth of oil and gas between November 2019 and November 2020, the Nigerian National Petroleum Corporation has said. The country suffered significant loss of revenue in 2020 due the fall in oil prices as a…
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The Department of Petroleum Resources, (DPR) yesterday said the Federal Government stands to rake $500m from the ongoing signature bonuses to be awarded to 57 marginal oil fields in the country. A Director of DPR, Sarki Auwalu, who…
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•Similar situation happened in 2016 to 2019 •As DPR blames third party for crude theft in land terminals The House of Representatives on Wednesday affirmed that crude oil worth over $20 billion could not be accounted for between…
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The Department of Petroleum Resources (DPR) has clarified the process it uses for accounting for crude production in the country, noting that most incidents relating to oil theft occurs from the land terminals. A statement issued on…
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Abia, Akwa-Ibom, Bayelsa, Delta and four other oil-producing states in the country, received N6.59 trillion from the 13 per cent derivation fund from the Federation Account from 2009 to 2019, according to a report published by ACIOE…
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...Yearly revenue slump by 31.5% to $181.5bn ExxonMobil recorded its first yearly loss since 1999 after losing $22.4 billion in 2020, the oil supermajor said at an earnings call on Tuesday. The energy industry has been…
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The Minister of State for Petroleum Resources, Chief Timipre Sylva at the weekend performed the groundbreaking ceremony of an Energy Infrastructure Park being developed by Atlantic International Refinery and Petrochemical Limited in…
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…Tasks Govts, Institutions on Technology, Innovation The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has commended President Muhammadu Buhari for giving the Corporation’s Management…
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