Tag Archives: The Nation Online

TotalEnergies Takes Investment Decision on Gas Project

Managing Director and Country Chair, TotalEnergies Exploration and Production (E&P) Nigeria Limited, Matthieu Bouyer has said the company would take the final investment decision (FID) on the Ubeta gas project in 2024, while some other big projects would follow shortly. Bouyer made this disclosure when he led senior officials of …

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IMF: Oil Savings can’t Insure against Price Shocks

The International Monetary Fund (IMF) has said Nigeria and other oil exporting countries in the Sub-Saharan African countries spend more when oil prices are high, hence find it difficult to save against oil price shocks. The Fund, therefore, advised the concerned countries to target buffers of around five to 10 …

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Asia Shares Mixed on China COVID Outlook

Asian share markets were mixed on Tuesday and oil was weaker as investors sought to digest the economic implications of China’s COVID policy adjustments and a rescue package for the country’s struggling property sector. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.1%, following mild losses for …

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OPEC: Russian-Ukraine War Scares Investors

The Organisation of Petroleum Exporting Countries (OPEC) yesterday said the war between Russia and Ukraine has frightened investors from the oil and gas industry and also rattled commodity market. Speaking at the Nigeria Energy Forum (CERA Week 2022 Agenda, OPEC Secretary General, Dr. Sanusi Barkindo, noted that the war has …

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OPEC Forecasts $1.5tr Downstream Investment

The Organisation of Petroleum Exporting Countries (OPEC) on Monday forecast $1.5 trillion downstream investment for between 2021 and 2045. OPEC also predicted that of the amount, $450billion would be invested in new refinery projects and extension of existing ones. The organisation foresaw positive development in the African downstream that would …

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Exxon Mobil Plans Job Cuts

Exxon Mobil Corp is “very close” to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email. The second-largest U.S. oil company by market value lost nearly $1.7 billion in the first six months and analysts …

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