Diversify into Blue Economy, MOSIEND Tasks Niger Delta Governors The Movement for the Survival of the Izon Ethnic Nationality in Niger Delta, MOSIEND, has urged state governors in the Niger Delta to key into the federal government initiative of marine and blue economy, in order to built wealth for the governed and increase revenue generation….
OB3 Gas Pipeline Project: Ekpo Tasks Contractors on December Deadline Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has urged contractors handling the Obrikom, Obiafo and Oben (OB3) gas pipeline project to ensure its completion by December this year. He stated this on Thursday during a tour of the 48 × 1.8km gas pipeline…
EIA Cuts U.S. Hydropower Generation Forecast By 6% For 2023 The Energy Information Administration (EIA) reduced on Thursday its forecast for U.S. hydropower generation by 6% this year compared to 2022, as much lower generation in the Northwest would more than offset an increase in California’s hydropower output. Since the spring, higher-than-normal temperatures have slashed…
NERC Unveils Stringent Penalties for Electricity Offences under the Electricity Act The Nigerian Electricity Regulatory Commission (NERC) has laid out the specifics of various electricity-related offences and their respective penalties as outlined in the 2023 Electricity Act. This information was disseminated by NERC through its official Twitter handle on Thursday, September 28. Recall that President…
Troops Seize 696,000 Stolen Crude, Destroy 34 Illegal Refineries In Two Weeks The Defence Headquarters says troops of Operations Delta Safe (OPDS) have seized 696,250 litres of stolen crude oil, 54,400 litres of illegally refined diesel, and 1,200 litres of petrol during several operations against oil thieves in the Niger Delta region in the past…
Oando Partners Government for Sustainable Transport Initiative in Lagos Oando has partnered with the Lagos State Goverment on the need for sustainable transport initiative in Lagos state. With over 20 million residents, Lagos is the most populous city in Africa and among the fastest-growing megacities in the world. Over the last decade, the number of…
Nigerian Minister Meets Tompolo, Others over Crude Oil Theft The Federal Government has met with an ex-agitator and the former leader of the Movement for the Emancipation of the Niger Delta, High Chief Government Ekpemupolo aka Tompolo, over crude oil theft in the Niger Delta region. The Minister of Niger Delta Development, Mr. Abubakar Momoh,…
Saudi Arabia May Start Unwinding Its Production Cuts Sooner Than Expected Saudi Arabia could begin easing its production cut sooner than oil market participants believe as the world’s top crude oil exporter wouldn’t risk demand destruction through too high prices, consultancy Rapidan Energy Group says. Due to the Saudi and OPEC+ cuts and falling commercial…
Russia Sells Urals Oil to India at $20 above the Price Cap Tightening global crude supply and rising international prices have raised the price at which Russia’s crude is being sold to India at about $20 per barrel over the G7 price cap of $60, traders have told Reuters. The Russian flagship crude grade, Urals,…
OPEC Daily Basket Price Stood at $95.31 a Barrel Monday The price of OPEC basket of 13 crudes stood at $95.31 a barrel on Monday, September 25, 2023, compared with $95.73 last Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend (Algeria), Girassol…