OIL FIRMS’ EARNINGS HURT BY WEAK PRICES

Falling oil prices seem to be bothering the international and local oil companies, as a number of them recorded lower earnings from crude oil in the third quarter reports.

Companies like ExxonMobil, Chevron and Shell leveraged on the strong performances from their natural gas and refining operations to buoy the financial performance during the period. 

Read more @ Guardian

TOTAL STOPS S.AFRICA OFFSHORE DRILLING AFTER MECHANICAL FAILURE

French energy major Total has halted oil exploration off the southern coast of Africa due to mechanical problems with a rig, meaning it will not be able to resume searching in the area before 2016, a company official said on Tuesday.

Read more @ Reuters

TOTAL’S NEW BOSS SETS TONE FOR A NEW ERA

The new head of French energy major Total, Patrick Pouyanne, in his first public appearance since his predecessor Christophe de Margerie was killed in a Moscow plane crash has challenged Europe to fight Washington over the US oil export ban,.

Patrick Pouyanne said the export ban flouts free-trade agreements and puts European and Asian refiners at a disadvantage, making a bold appeal to European politicians.

Read more @ Businessdsay

TOTAL DONATES HIV SCREENING MACHINE TO COMMUNITY

Total upstream companies in Nigeria has donated sets of high technology screening machines to the General Hospital Omoku, in Ogba/ Egbema/ Ndoni Local Government  of Rivers State. The gesture, according to the Managing Director of the company, Elisabeth Proust was aimed at bringing advanced HIV/AIDS screening to the grass roots in the state.

Read more @ Guardian

SHELL EXECUTES N2BN PROJECTS TO MARK NIGERIA’S CENTENARY

Royal Dutch Shell has stated that it would implement three projects worth nearly N2 billion to mark Nigeria’s centenary as the Anglo-Dutch oil giant identifies with the aspirations of the largest black African country on the attainment of 100 years of modern nationhood.

The projects include a 200-seater library in Port Harcourt; a health project at Oloibiri, Bayelsa State and an upgrade of athletics infrastructure in five secondary schools in Delta State.

Read more @ Thisday Live

NNPC RECEIVES 720 DRUMS OF STOLEN PMS

The Nigeria Security and Civil Defence Corps (NSCDC) has handed over 20 drums containing 250 litres each and 700 kegs, each containing 30 litres of Petroleum Motor Spirit (PMS), to the Nigerian National Petroleum Corporation (NNPC).

The Lagos State Public Relations Officer (PRO) of the NSCDC, Assistant Superintendent Mefor Chibuzor, said in a statement yesterday that the products were recovered from suspected oil pipeline vandals on the high sea at Iwoko, Adjido, Ebute Olofin area of Badagry Local Government between July and October.

Read more @ New Telegraph

SHELL, CHEVRON, OTHERS FLARE 800M GAS SCUF DAILY –FG

Companies operating in Nigeria’s oil and gas industry now flare a cumulative 800 million cubic feet of gas on daily basis, the Nigerian National Petroleum Corporation (NNPC) said at the weekend. Group Executive Director, Gas and Power, Dr. David Ige, disclosed this, quoting a new data from the Department of Petroleum Resources (DPR), on the side-line of the Nigeria Gas Association (NGA) in Abuja. Shell, Chevron, Total, Eni and other firms whose daily operations led to the new volume of gas flaring, control the oil exploration and production in Nigeria.

Read more @ New Telegraph