The impart on the prevailing economic sanctions placed on Rusian by U.S and her European allies under the auspices of North  Atlantic Treaty Organisation NATO owing to Russian unprovoked invasion of Ukraine is severally creating palpable effect on major state owned companies.  The recent economic blow is coming from the nation’s  oil and gas giant […]

Following the announcement that Equinor has started the process to exit its projects in Russia, a decision has been made that Equinor will also stop trading in Russian oil. This means that Equinor will not enter any new trades or engage in transport of oil and oil products from Russia. This is part of Equinor’s […]

Recently in Dublin, Ireland the Nigerian National Petroleum Corporation (NNPC), said it spent N91.667 billion on refinery rehabilitation in 11 months, from January to November 2021 corroborating the report presentation to the Federation Account Allocation Committee (FAAC) in December 2021, which NNPC also stated that N45 billion was spent on pipeline security and maintenance, while […]

The recent disclosuremade by the Group Managing Director of Nigerian National Petroleum Company NNPC  Mallam Abba Kyariat just concluded Nigerian International Energy Summit (NIES 2022) in Abujathat International oil companies are leaving Nigeria and shifting their investment portfolios to more added value towards carbon net-zero commitment has taken a vivid dimension. ExxonMobil Divestment Plan The […]

ExxonMobil has issued corporate statement as regards to the current Russia invasion situation in Ukraine. In its stated, ExxonMobil express the company’s supports to the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia’s military action that violates the territorial integrity of Ukraine […]

The bp board announced that bp will exit its shareholding in Rosneft. bp has held a 19.75% shareholding in Rosneft since 2013.  Additionally, bp chief executive officer Bernard Looney is resigning from the board of Rosneft with immediate effect. The other Rosneft director nominated by bp, former bp group chief executive Bob Dudley, is similarly […]

The Board of Shell plchas announced its intention to exit its joint ventures with Gazprom and related entities, including its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture. Shell also intends to end its involvement in the Nord Stream […]

Shell has announcedthat it has become the first supplier of sustainable aviation fuel (SAF) to customers in Singapore. Shell has also completed the upgrading of its facility in Singapore which will enable blending of SAF in Singapore. SAF is approved for use in aircraft operating today only when blended in a ratio of up to 50% […]

Shell plc has announced the appointment of Sinead Gorman as chief financial officer (CFO), effective April 1, 2022. She will become a member of both Shell’s Executive Committee and Board of Directors. After a distinguished career of 17 years with Shell, the last five years as CFO, Jessica Uhl will step down from her role […]

W&T Offshore, Inc. has announced the timing of its fourth quarter and full year 2021 earnings release and conference call. The Company is scheduled to issue its fourth quarter and full year of 2021 earnings release on Tuesday, March 8, 2022, after the close of trading. A conference call to discuss financial and operational results […]