Latest Oil & Gas News Roundup For August 7 - August 14, 2022

Welcome to the AllNews roundup of the latest Oil & Gas News that made the round last week.

Oil Remains Near-Month Lows Amid Demand Concerns

Oil prices slowly increased on Monday from multi-month lows as persistent concerns about demand slowing because of a gloomier global outlook offset some encouraging economic data from China and the United States.

Brent crude futures were down 51 cents, or 0.5 percent, at $94.41 a barrel by 0816 GMT, reversing earlier gains. American West Texas Intermediate crude was down 43 cents or 0.5 percent at $88.58 per barrel. Read more here.

Shareholders Express Continued Trust In Oando Management At 43rd AGM

Oando Plc shareholders have expressed renewed confidence in the company's management while encouraging the government to collaborate with stakeholders to address the issues affecting the oil and gas sector.

According to a statement on Oando's website, the 43rd Annual General Meeting (AGM) of the firm was conducted on Wednesday in Lagos. Read more here.

Zenon Petroleum Says It Never Published Winding-Up Suit Against Prudent Energy

In accordance with the court's guidelines, Zenon Petroleum and Gas Limited has claimed that it never made specifics of its lawsuit against Prudent Energy & Services Limited (PESL) public.

In a statement, it claimed that, like the rest of the public, it had seen both the news release from Prudent Energy on Tuesday and the narrative of the petition it had filed at the Federal High Court in Lagos in Suit No. FHC/L/CP/1450/2022 to wind-up Prudent Energy and Services Limited. Read more here.

NLNG Denies Involvement In Illegal Gas Exportation

The Nigeria Liquefied Natural Gas Ltd. (NLNG) has denied the allegation that the company was involved in illegal exportation of LNG or any of its products outside the country.

Andy Odeh, the General Manager, External Relations and Sustainable Development, NLNG, issued the denial in a statement on Thursday in Lagos. Read more here.

Nigeria’s Crude Oil Production Averaged 1.183m b/d In July – OPEC

Organization of the Petroleum Exporting Countries (OPEC), announced that Nigeria boosted its crude oil output to an average of 1.183 million barrels per day (bpd) in July 2022.

OPEC made this known in its Oil Market Report for August 2022. Read more here.

These are the latest Oil & Gas news that made trends during the week. Visit our website https://allnews.ng for more Oil & Gas news around the world.