Nigeria’s LNG Output still weak despite Europe’s thirst for spot supplies Natural Gas Intelligence (NGI), in a recent report, has stated that heavy flooding, upstream gas supply issues and pipeline vandalism have left the six-train Nigeria LNG (NLNG) facility on Bonny Island producing far below capacity since last year, with the trend largely continuing in…
Russian Oil Company Lukoil Snaps Up Offshore Blocks in Congo Russian oil company Lukoil has said it now has rights to two offshore Energy blocks in the Republic of Congo in partnership with Italian oil giant Eni. According to Russian news agency, Interfax, the rights to the offshore blocks, known as Marine 24 and Marine…
Oil Prices Dive to 15-Month Lows on Bank Fears Oil prices took a dive on Friday, reversing early gains of more than $1 a barrel and falling by more than $3, as banking sector fears set crude on course for its biggest weekly decline in months. Brent crude futures fell by $2.27, or 3.04%, to…
Nigerian Navy unveils Navigational Chart for Lower River Niger The Nigerian Navy has unveiled the Navigational Chart of the Lower River Niger as part of efforts towards the development of inland waterway in Nigeria. The navigational chart was carried out by the hydrographic unit of the navy in collaboration with the Federal Ministry of Transportation…
India’s Clean Energy Independence by 2047 is Achievable – Berkeley Lab The world’s third largest energy consumer, India can achieve its vision of energy independence by 2047, according to a new study by the US Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab). Examining India’s three most energy intensive sectors; power, transport and industry, the…
FEC Approves N15bn for Road linking 2nd Niger Bridge, €3.7m for Power The Federal executive Council (FEC) has approved N15 billion for the construction of an access road linking the Benin-Asaba expressway to the second Niger bridge. Minister of Information and Culture, Lai Mohammed, disclosed this when he briefed State House correspondents on the outcome…
We Remain Operators of OML 18 – Eroton Boss Eroton Exploration and Production Company Limited, has insisted that it remains the operator of OML-18 in line with the provisions of the Joint Operating Agreement. It was recently reported that the non-operating joint venture partners of Oil Mining Lease 18 had appointed NNPC Eighteen Operating Limited…
Ghana Removes Fuel Subsidy The Ghana National Petroleum Authority has announced removal of fuel subsidy in the country. The removal of the subsidy is part of the country’s implemented regulatory measures to ensure stability across its downstream sector. The Chief Executive Officer of NPA, Abdul Hamid, disclosed this during a presentation at the ongoing Africa…
Nigeria records 1.3 Million bpd Crude Oil Output in February – OPEC The Organisation of Petroleum Exporting Countries (OPEC) yesterday confirmed that Nigeria produced 1.3 million barrels per day of crude oil in February, in alignment with the country’s earlier self-reported data this month. The information which was made public in its Monthly Oil Market…
US senators seek to expand sales of ethanol-gas blend with support from Big Oil Year-round sales of E15 have been long sought by the biofuel industry and corn farmers US senators on Tuesday reintroduced a bipartisan bill that would allow nationwide sales of gasoline with a higher blend of ethanol year-round, with the support of…
