Gazprom says 50% dividend payout ratio seen in 2-3 years

Gazprom says 50% dividend payout ratio seen in 2-3 years. Russian state gas producer Gazprom said on Thursday its dividend More »

Zimbabwe power cuts may deepen as water levels fall at Kariba Dam

Zimbabwe power cuts may deepen as water levels fall at Kariba Dam. Zimbabwe’s largest hydroelectric plant, Kariba Dam, will suspend output in 14 weeks More »

Investor Icahn sues Occidental Petroleum over ‘misguided’ Anadarko deal

Investor Icahn sues Occidental Petroleum over 'misguided' Anadarko deal. Activist investor Carl Icahn, who has built a $1.6 billion position More »

Zimbabwe’s Kariba hydro plant may suspend operations if water levels stay low -minister

Zimbabwe's Kariba hydro plant may suspend operations if water levels stay low -minister.Zimbabwe’s largest hydropower plant More »

IPMAN urges the Buhari govt to encourage local refiners

OpeOluwani Akintayo Lagos — The Independent Petroleum Marketers Association of Nigeria, IPMAN, has urged the Federal Government to encouraged local refiners to boost local refining of crude oil in the country. Mr. Chinedu Okoronkwo, the National President of IPMAN made the appeal in Lagos on Wednesday. Okoronkwo said this became imperative for President Buhari to […] More »

Exxon trades European gasoline on Argus pricing for first time

Exxon trades European gasoline on Argus pricing for first time. Energy giant ExxonMobil traded two Ebob gasoline barges based on Argus pricing on Wednesday More »

MoniPulo empowers A/Ibom communities with startup items

Mkpoikana Udoma Port Harcourt — As part of its corporate social responsibility, Moni Pulo Petroleum Development Limited has empowered its host communities of Effiat and Mbo, in Mbo Local Government Area of Akwa Ibom State, with entrepreneurial startup items and cash donations worth over N10 million. The items include 40 motorcycles, 40 laptops, and printers, […] More »

Nigeria: Trans Forcados oil pipeline resumes operations – source

Nigeria: Trans Forcados oil pipeline resumes operations - source. Nigeria’s Trans Forcados oil pipeline resumed flows on Friday, a source familiar with More »

Stevedores set for show-down with IOCs over dockworkers recruitment

Vincent Toritseju Lagos — Stevedoring operators have commenced moves to checkmate the recruitment of dockworkers by International Oil Companies, IOCs, in their crude oil terminals. President of the National Association Stevedoring Companies, NASC, Mr. Bolaji Sunmola, disclosed that the stevedoring companies appointed by the Nigerian Ports Authority, NPA, were denied entrance in these IOCs’ terminals. […] More »

Mexico’s president to discuss ways to cut Pemex tax burden

Mexico's president to discuss ways to cut Pemex tax burden. Mexico’s President Andres Manuel Lopez Obrador said he will discuss More »

Brazil’s Petrobras eyes transfer-of-rights addendum that opens up $9 billion payment

Brazil's Petrobras eyes transfer-of-rights addendum that opens up $9 billion payment. Brazil’s state-run oil company Petrobras said on Tuesday More »

Transneft to discuss oil contamination in Poland on Thursday

Russia’s Transneft has scheduled a meeting in Poland on Thursday with Polish pipelines operator PERN and Polish and German refineries More »

British Steel risks collapse with 25,000 jobs at stake

British Steel risks collapse with 25,000 jobs at stake. British Steel, the country’s second largest steel producer, is on the brink of collapse More »

Malaysia’s Petronas shuts Sabah-Sarawak gas pipeline for maintenance

Malaysia's Petronas shuts Sabah-Sarawak gas pipeline for maintenance. Malaysia’s state oil and gas company Petroliam Nasional Bhd More »

Despite rhetoric, Turkey complies with U.S. oil sanctions on Iran

Despite rhetoric, Turkey complies with U.S. oil sanctions on Iran. Turkey has closed its ports to Iranian oil, fully complying with U.S. sanctions More »

BP shareholders overwhelmingly adopt climate resolution

BP shareholders overwhelmingly adopt climate resolution. BP shareholders overwhelmingly approved a climate resolution on Tuesday backed by investors More »

W. Africa Crude-Sonangol said to finalise July term allocations

W. Africa Crude-Sonangol said to finalise July term allocations. Angolan state oil company Sonangol has finalised its allocations More »

NERC targets robust tariff review process

NERC targets robust tariff review process. Power sector regulator, the Nigerian Electricity Regulatory Commission, NERC, has said it is implementing More »

25 Nigerian June cargoes remain unsold – Report

25 Nigerian June cargoes remain unsold - Report. About 25 or more of Nigeria's June crude oil loading cargoes remained unsold as at the More »

Dutch envoy inspects Ogoni clean-up, pledges support

Dutch envoy inspects Ogoni clean-up, pledges support. Netherlands' ambassador to Nigeria, Ms Marion Kappeyne, has pledged to support More »

Nigeria needs $200 billion investment to address the energy gap

Ike Amos Abuja — Managing Director of Shell Nigeria Exploration and Production Company, SNEPCO, Mr. Bayo Ojulari, has bemoaned the widening energy gap in Nigeria, while he disclosed that Nigeria needs between $40 billion to $200 billion worth of investments to bridge the gap. In a presentation titled, ‘Nigeria’s Energy Security: Opportunities, Present Threats and […] More »

Funding remains a major challenge to indigenous oil firms — Baru

Ike Amos Abuja — Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, has lamented the difficulties experienced by indigenous oil and gas firms in securing funds to finance their operations, stating that this has negatively affected their growth trajectory. In a presentation titled, ‘Energy Security and Sustainable Development in Nigeria: The Way […] More »

Gambia signs oil exploration deal with BP for A1 block

Gambia signs oil exploration deal with BP for A1 block. Gambia’s government said on Tuesday it had signed a contract with BP to explore oil and More »

Nigeria: Monthlong power shortage takes toll on homes, businesses

Nigeria: Monthlong power shortage takes toll on homes, businesses. Nigeria has been experiencing acute power shortage since the beginning of April More »

TransCanada profit beats as U.S. pipelines phased in

TransCanada profit beats as U.S. pipelines phased in. TransCanada Corp beat analysts’ estimates for quarterly profit on Friday More »

Germany’s RWE to review climate lobbying as investor pressure rises

Germany's RWE to review climate lobbying as investor pressure rises. German utility RWE, under investor pressure as one of Europe’s More »

European diesel markets rally on Russia pipeline shutdown

European diesel markets rally on Russia pipeline shutdown. The European diesel market is finding unexpected support from disruption in the refining sector More »

Tunisia orders army to transport fuel during walkout

Tunisia orders army to transport fuel during walkout. Tunisia ordered the army on Friday to transport fuel to filling stations on Friday More »

UK Gas-Prices mixed on oversupplied system, low temperatures

UK Gas-Prices mixed on oversupplied system, low temperatures. British wholesale gas prices were mixed on Friday with an increase in Norwegian More »

Cameroon’s GDP growth to rise to 4.2 pct in 2019 – IMF

Cameroon's GDP growth to rise to 4.2 pct in 2019 - IMF. Cameroon’s economic growth is expected to rise to 4.2 percent this year More »

Chevron sells remaining South Africa’s downstream assets for $1 billion

OpeOluwani Akintayo Lagos — U.S oil major, Chevron has finally sold its remaining assets in South Africa for $1 billion, exiting the country’s downstream sector. After a one-year drag, the company’s board has approved the sale of its downstream assets for a total of $1 Billion to a firm controlled by oil trader, Glencore. Chevron […] More »

Former BP, Equinor executive to lead African Energy Chamber in Angola

*Mr. Pugliese will lead the chamber’s activities in Angola and support the Chambers’ partners in unlocking value in Angola’s multi-billion-dollar oil and gas market Johannesburg, South Africa — The African Energy Chamber is pleased to announce that it has appointed Mr. Sergio Pugliese as President for Angola, effective May 1st, 2019. In this role, Mr. […] More »

Italy court rejects appeals against oil-gas permits granted Global Petroleum

Rome — An Italian regional court has thrown out an appeal by local municipalities against oil and gas exploration permits granted to Australia’s Global Petroleum Limited, according to a ruling seen by Reuters. The ruling said the municipalities had claimed Global Petroleum had made four different requests to carry out seismic exploration in the Adriatic […] More »

Trump administration to relax offshore safety rules sparked by 2010 Gulf oil spill

Trump administration to relax offshore safety rules sparked by 2010 Gulf oil. The Trump administration will unveil on Thursday its final More »

Elumelu’s Transcorp Power Consortium wins bid for Afam Power

OpeOluwani Akintayo Lagos — Transcorp Power Consortium promoted by the Nigerian businessman, Tony Elumelu, has won the bid for Afam Power Plc. The National Council on Privatisation, NCP on Tuesday, declared the firm winner after it emerged the most preferred financial bidder. Chairman of the technical committee of the NCP, M.K. Ahmed, said Transcorp Consortium […] More »

W. Africa Crude-Awards for Indian tenders awaited, Nigerian offered high

W. Africa Crude-Awards for Indian tenders awaited, Nigerian offered high. Spot trading was muted on Tuesday as market participants awaited More »

Poll pushes average oil price forecast 2% higher in 2019

Poll pushes average oil price forecast 2% higher in 2019. A monthly survey of 31 economists and analysts forecast Brent crude would average $68.57 More »