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How ExxonMobil earned $6.3 bn/hour, $153 m/day, $56 bn profit in 2022
Sopuruchi Onwuka By controlling cost and taking full advantage of strong demand and high market prices, American multinational oil firm, ExxonMobil, posted annual profit of $56 billion in 2022. The company’s financial performance in the year translates to average daily…
Fossil to account for 20% of energy mix by 2050
Sopuruchi Onwuka The highly credible BP energy outlook holds that the world will displace some 60 percent of fossil fuels with greener renewable energy in the next 28 years as the prevailing energy transition continues to gather momentum in response…
How WIEN expands African battlefields for gender equity
Sopuruchi Onwuka The global war for gender equity is growing widened battlefields in Africa where female stalwarts are stepping forward with powerful programmes and advocacies that deliver statements on the determination of women and girls to unleash bottled up potentials…
Benin Republic calls Zenith to deal on Sèmè oilfield
Sopuruchi Onwuka, with agency reports Government of Benin Republic has called Zenith Energy come for negotiation on the terms of a production sharing contract (PSC) on the prospective Seme oilfield, just close to the same location Nigerian government is preparing…
Investors hit pre-qualification deadline for Nigerian mini-bid round applications
Sopuruchi Onwuka End of month deadline for investors seeking right of play in the country’s petroleum industry comes to an end today as Nigeria puts some seven exploration blocks on aiction. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had in…
Addax finally acquires Knock Adoon FPSO after protracted lease
Sopuruchi Onwuka Nigerian based independent petroleum exploration and production company, Addax, as finally taken ownership of the main production vessel which has been pumping and processing oil and gs from operated mining license offshore Niger Delta. The acquisition of the…
Uganda to announce next bid round in May
Sopuruchi Onwuka, with agency reports Investors and players seeking assets in Uganda must start early bid packaging ahead of May when the country is scheduled announce its next exploration licensing round. Uganda’s Energy Minister Ruth Nankabirwa Ssentamu in a statement…
NAE, BW Offshore intensify renegotiation on Abo FPSO lease
Sopuruchi Onwuka Eni’s deepwater arm in Nigeria, Nigeria Agip Energy (NAE), is locked in intense negotiation with BW Offshore for retention of is key production facility at the operated Abo deepwater field, offshore Niger Delta. In the interim, the two…
Uganda targets first oil, transnational pipeline by 2025
Government of Uganda is pushing for delivery of two petroleum industry projects to make the country a major oil export by 2025. The Kingfisher field is part of a $10 billion scheme to develop Uganda’s oil reserves under a lake…
Norway resumes search for more oil
The Scandinavian nation, Norway, declared on Tuesday that it is putting about 92 petroleum exploration blocks on auction as the country shocks environmental NGOs with an “aggressive” promotion of fossil fuels. The announcement came as part of the annual granting…
