Ecuador’s Energy Imports Exceed Exports for First Time in 50 Years Ecuador’s fuel import costs have surpassed crude and fuel oil export income for the first time in more than 50 years, energy minister Fernando Santos has revealed. Exports by the South American country of crude and fuel oil–the only refined product Ecuador exports–were…
Russia’s Urals Oil Breaches $60 Price Cap for the First Time Russia’s flagship crude grade, which has been trading consistently below the price cap set by the G7 and the European Union, climbed above $60 per barrel on Wednesday. That’s supported by Argus Media data, cited by Bloomberg. It is now, for the first time,…
Navy Foils Oil Theft Attempts at OML18 Facility in Rivers The Nigerian Navy Ship, NNS Pathfinder has again recorded another success in the fight against oil theft in the Niger Delta region, as it frustrated efforts of oil assets vandals at OML18 facilities in Asari Toru and Degema Local Government Areas of Rivers State. The…
NOG Energy Week Conference and Exhibition: Attracting Investment in Nigeria’s Energy Sector Chief Upstream Investment Officer of NNPC Limited, Mr. Bala Wunti, has expressed optimism over the outlook of Nigeria’s energy sector, particularly in the realm of foreign direct investment (FDI). He made this known while speaking in a Panel Discussion on “The Investor’s Perspective:…
QatarEnergy CEO: 40% Of New LNG Coming To Market By 2029 Will Be From Qatar A full 40% of all the new LNG that will come to the market by 2029 will be from Qatar, the country’s Minister of State for Energy Affairs, President and CEO of Qatar’s national oil company, QatarEnergy, has declared. “Gas…
IPMAN Raises Alarm over Incessant Vandalism on NNPCL Pipeline The lndependent Petroleum Marketers Association of Nigeria (IPMAN), Ejigbo Satellite Depot, has raised alarm over incessant activities of pipelines vandalism at Idimu, Alimosho Local Council Development Area of Lagos. IPMAN Ejigbo Satellite Depot Chairman, Mr Akin Akinrinade, disclosed that some vandals, who were found scooping petrol…
Give Indigenous Oil and Gas Companies Opportunity to Deliver – Fortune Global The Head of Branch Operations, Fortune Global Shipping and Logistics Port Harcourt Branch, Chetachi Nwaoko, has called on stakeholders in the oil and gas sector to give indigenous companies in the industry the opportunity to prove themselves. Speaking at the 2023 Nigerian Oil…
Idle Refineries Could Complicate Russia’s Oil Export Cuts Russia will have more refining capacity offline this month than initially planned, Reuters has estimated, which could mean that Moscow may not deliver the 500,000-bpd crude oil export cut it has promised for August. Some big Russian refineries have extended their respective periods of maintenance into July,…
MAN DG Advocates Collaboration with Oil, Gas Sector The Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has called for collaboration between the manufacturing industry and the oil and gas sector to boost Nigeria’s economy. Speaking at the Nigerian Oil and Gas Opportunity Fair (NOGOF), Ajayi-Kadir emphasized the need for the two…
Crude Oil Theft: NNPC Security Partner Intercepts 800,000 Litre Crude Headed for Cameroon Nigerian National Petroleum Company Limited has said that its security partner, Tantita Security Services Limited, has intercepted an 800,000-litre capacity vessel loaded with stolen crude. In a July 10 statement signed by Garba Deen Muhammad, the Chief Corporate Communications Officer at NNPC…