TotalEnergies’ full-year profit leaps by 711% amid global oil rebound

TotalEnergies Marketing Nigeria Plc, the local unit of France-based oil and gas giant TotalEnergies SE, reported net profit growth of above sevenfold for 2021 as the global oil industry recovers from a record oil crash the previous year, the company’s financials showed on Friday. The oil driller noted a 67 per cent revenue surge as

Uber Launches UberMoto A Two-Wheeler Mobility Option In Ibadan

Uber has announced the expansion of its product offering in Ibadan with the launch of UberMoto, a two-wheeler low-cost alternative and smart mobility option for city residents to navigate traffic quicker and effectively to get from one place to another. UberMoto extends on current product offerings already available in the city with safety, reliability, and

BW Offshore gets rid of FPSO to transition to floating energy investments

FPSO operator BW Offshore has decided to sell one of its FPSO vessels as part of its strategy to transition to floating energy infrastructure investments. BW Offshore has signed an agreement for the sale of the FPSO BW Joko Tole to PT Bahari Inti Tanker and PT Cahaya Haluan Pasifik, both of which are Indonesian companies, in

Dredging Corporation of India and NMDC enter strategic alliance

Dredging Corporation of India (DCI) and National Maritime Dredging Company (NMDC) entered into a strategic alliance today. The alliance will focus on areas not limited to capital dredging works, project development on BOT basis, operate ports as managers, participate in the public, private partnership in dredging works in accordance to the Dredging Policy, Ministry of

The fiasco of the “Esbern Snare”

It has been more than two months since five suspected pirates were killed by crew of the “Esbern Snare” a Danish frigate in waters said at the time to be the highs seas off the coast of Nigeria. Most of the information and updates available have come from the Danish authorities, with the incident dominating

Oil likely to hit triple digit in 2022 on tight market: Kamco

Several estimates now suggest oil reaching triple digit market this year as supply struggles to cope up with rising demand led by years of underinvestment coupled with retrained supplies from not just Opec but even non-Opec producers worldwide, a report said. Sentiments in the oil market remained upbeat as we entered 2022 with expectations of

NLNG set to supply cooking gas to Nigerian market to crash prices

The Nigeria Liquefied Natural Gas NLNG Limited (NLNG) says it will supply 100 per cent of its liquefied petroleum gas to the Nigerian market to crash the prices of cooking gas. The NLNG on Thursday in a statement signed by Andy Odeh, the general manager, external relations and sustainable development, said it will prioritise the domestic market

Diesel Hits N350/litre – Report

Ahead of the Federal Government’s concluded plans to remove subsidy on the price of Premium Motor Spirit (PMS) as part of the ongoing implementation of the Petroleum Industry Act (PIA), the price of Automotive Gas Oil, also known as diesel, has increased further to N350 per litre in some filling stations in Lagos. Although diesel