U.S. Oil Refiners again Expand Fuel Capacity after big Shrink U.S. crude oil refining capacity has reversed two years of declines and climbed by more than 100,000 barrels, to 18.1 million barrels per day (bpd), according to a government report released on Wednesday. During the first two years of the COVID-19 pandemic, processing capacity to…
Indian Refiner could buy Russian Crude Priced off Dubai Benchmark India’s state-owned refiner Bharat Petroleum Corporation Limited (BPCL) is in advanced talks with Rosneft to buy nearly 44 million barrels of cheap Russian crude priced off the Dubai benchmark, Reuters reported on Friday, quoting sources with direct knowledge of the discussions. The talks between BPCL…
Russia’s Gazprom Looks to Africa for Gas Production Gazprom is ready to help African countries to produce natural gas, representatives of the Russian gas giant said at a meeting with officials from African countries in Johannesburg this week. “I believe that Gazprom’s experience implementing liquefied natural gas and gas pipeline construction projects could be of…
OGFZA Seeks Collaboration on Ikpokiri Oil & Gas Free Zone Development The Managing Director of the Oil and Gas Free Zones Authority, Sen. Tijjani Kaura, has sought collaboration with the Rivers State government for the development of an oil and gas free zone in Ikpokiri Island, Ogu/Bolo Local Government Area of the state. Kaura who…
Host Communities in Delta State Allege Diversion of N1trn Oil Derivation Oil and gas host communities in Delta State have petitioned the Economic and Financial Crimes Commission, EFCC, demanding the probe of Former Governor Ifeanyi Okowa, over alleged diversion of N1.07 trillion from the 13 percent oil derivation funds accruable to the state. The petitioners…
Oil Spills Impacted Residents should be evacuated – MOSOP The Movement for the Survival of Ogoni People, MOSOP has called for the urgent evacuation of residents of Eleme Local Government Area of Rivers State, living around the ongoing oil spills impacted area. Recall that a fresh oil spill from a facility operated by the Shell…
Angola LNG Celebrates 400th Cargo Angola LNG’s Lobito vessel berthed at Soyo terminal to load the project’s 400th LNG cargo on June 13, 2023. The project’s 400th LNG cargo represents a significant milestone for Angola LNG and coincides with the 10th anniversary since the first cargo of LNG was shipped and delivered safely to Brazil…
AEG Power Solutions introduces Full-IGBT Industrial UPS System AEG Power Solutions (AEG PS), global provider of power systems and solutions for all types of critical and sustainable applications, has introduced a new range of uninterruptible power supply (UPS) systems, which feature a full IGBT architecture and industrial-grade built quality to provide a safe power backup…
ExxonMobil Announces Shane Harris as New Chairman and Managing Director in Nigeria ExxonMobil has appointed Mr. Shane Harris as chairman and managing director, and lead country manager of its three affiliates in Nigeria: Mobil Producing Nigeria Unlimited, Esso Exploration and Production Nigeria Limited, and Esso Exploration and Production Nigeria (Offshore East). Harris succeeds Mr. Richard…
OPEC Basket Price Stands at $75.89bpd The price of OPEC basket of 13 crudes stood at $75.89 a barrel on Friday, June 16, 2023, compared with $74.20 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo),…