NGA Shines Bright at Gastech 2023 Conference in Singapore The Nigerian Gas Association (NGA) proudly marked its presence at the prestigious Gastech 2023 conference, held in Singapore from September 4 to 7, 2023, where with the support of corporate members such as the Nigerian National Petroleum Company Limited (NNPCL) and Nigeria LNG Limited (NLNG), it…
Colombia Mulls Making Ecopetrol Mandatory Partner in Offshore Wind Farms Colombia’s government is considering revising rules to make majority state-run energy company Ecopetrol an obligatory partner in every offshore wind project, three people familiar with the matter told Reuters. The Ministry of Mines and Energy will consult businesses interested in taking part in Colombia’s first-ever…
OPEC Daily Basket Price Closes At $92.84 Per Barrel The price of OPEC basket of thirteen crudes stood at $92.84 a barrel on Friday, compared with $92.97 the previous day, according to OPEC Secretariat calculations. [custom-related-posts title=”Related Posts” none_text=”None found” order_by=”title” order=”ASC”] The OPEC Reference Basket of Crudes (ORB) is made up of the following:…
ADNOC Looks to Boost Its Oil Trading Business in Europe Abu Dhabi National Oil Company (ADNOC) plans to expand its oil, fuels, and LNG trading business in Europe as it looks to boost its global presence in the downstream and fuel supply, anonymous sources familiar with the plans told Bloomberg on Wednesday. ADNOC, which pumps…
BP Plans $11 Billion Clean Energy Investment in Germany by 2030 UK supermajor BP expects to invest up to $10.75 billion (10 billion euros) in low-carbon energy solutions in Germany by 2030 as it looks to accelerate EV charging and decarbonization of its refinery operations in Europe’s biggest economy, a senior BP executive has told…
Apapa Customs Command Collects N676bn in Eight Months The Apapa Area Command of Nigeria Customs Service said it collected N676 billion revenue from January to August 2023. Former Controller of the command, Assistant Comptroller General Auwal Mohammed disclosed this while handing over to his successor, Comptroller Babajide Jaiyeoba. Speaking at the handover ceremony in Lagos…
OPEC says Nigeria is Second Largest Producer Oil in Africa The Organisation of the Petroleum Exporting Countries (OPEC) has confirmed that Nigeria’s oil production increased to 1.18 million barrels per day (bpd) in August 2023 – up from 1.08 million barrels in July. In its monthly oil market report released on Tuesday, the oil cartel…
UK to contribute $2bn to Green Climate Fund The United Kingdom (UK) will contribute £1.62 billion ($2 billion) to the Green Climate Fund (GCF), which was established by 194 countries following the Copenhagen Accord at COP15. The GCF is the largest global fund dedicated to supporting developing countries to reduce global emissions and helping communities…
7.5% VAT on diesel may disrupt fuel supply – NARTO The Nigerian Association of Road Transport Owners, on Tuesday, called on the Federal Government to stop the 7.5 per cent Value Added Tax on Automotive Gas Oil, popularly known as diesel. NARTO said the halt of VAT on diesel had become fundamental in order to…
Chevron To Be Majority Owner Of World’s Largest Hydrogen Production Facility U.S.-based Chevron Corp. will soon be the majority owner of what will be the world’s largest hydrogen production and storage facility as it branches out past fossil fuels. Chevron New Energies—a division of Chevron that has a goal of “helping customers meet their lower…