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),…
Hyde Energy Commissions New LPG Facility in Benue in its Drive for Sustainable Energy Nigeria’s leading indigenous energy trading company, Hyde Energy Limited, in its drive to expand its Liquefied Petroleum Gas (LPG) operations, has commissioned a new LPG facility in Makurdi, the Benue State capital. First of its kind, the NAFIL-Hyde Energy LPG Facility…
57 Illegal Refining Sites Destroyed, 16 Oil Thieves Arrested in Military Incursions in Rivers The Defence Headquarters says troops of Operation Delta Safe (OPDS) have destroyed 57 illegal refining sites and apprehended 16 suspected oil thieves in the last two weeks. The Director, Defence Media Operation, Maj.-Gen. Musa Danmadami, said this on Thursday in Abuja…
U.S. Crude Trading at Big Discount to Dubai Oil Heavy trading in Dubai oil has lifted its premium to WTI crude to its highest since late March, a development that could make U.S. crude even more competitive in Asia. More traders have turned to Dubai after Persian Gulf producers such as Saudi Arabia hiked prices…
Subsidy Removal: Oil Marketers to Begin Fuel Importation As NMDPRA Vows To Protect Nigerians from Exploitation The Nigeria Midstream and Downstream Petroleum Regulatory Authority has assured that it would protect consumers from exploitative action following plans by oil marketers to begin fuel importation. The NMDPRA Chief Executive, Farouk Ahmed gave the assurance while briefing journalists…
Wärtsilä to Extend Regasification Capacity for Croatian LNG Terminal Technology group Wärtsilä has been contracted to extend the capacity of the regasification system installed onboard the ‘LNG Croatia’ with a new regasification module. The 280-metre long Floating Storage and Regasification Unit (FSRU) vessel is owned by Zagreb based LNG Hrvatska and acts as the company’s…
NMDPRA Issues Licences of Crude Oil Terminals to NNPC, Belema The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued Licence to establish new crude oil terminals to NNPC Limited and Belema Oil Producing Limited. NMDPRA is the Technical and Commercial Regulator of Midstream and Downstream Operations. The announcement was made by the Authority…
OPEC Report Shows Nigeria Reclaims Position as Top African Crude Oil Producer in May 2023 The Organization of Petroleum Exporting Countries (OPEC) report shows that Nigeria has regained its position as the top crude oil producer in Africa for May 2023. Nigeria produced 1.184 million barrels of crude oil per day during the month, according…
Nigerian Authorities Restore Immigration Documents of Seplat Energy CEO, Roger Brown Seplat Energy is pleased to announce that the Ministry of Interior (“Ministry”) and the Nigeria Immigration Service (“NIS”) have restored the Working Permit, Combined Expatriate Residence Permit and Aliens Card (“CERPAC”) and other Visas for the entry or stay in Nigeria (“Immigration Documents”) of…
Biden Administration Looks to Add 12 Million Barrels to the SPR this Year The federal government plans to buy some 12 million barrels as part of efforts to refill the strategic petroleum reserve after drawing down more than 200 million barrels from it last year. This is according to an unnamed source that spoke to…