North America to Lead in Small-Scale LNG Liquefaction According to a recent report by Global Data, North America is expected to witness the highest small-scale LNG liquefaction capacity additions globally between 2023 to 2027. The data and analytics company made this known in its latest report titled “Small-Scale LNG Liquefaction Capacity and Capital Expenditure (CapEx) Forecast…
Launch of Intelligence Report to Improve Transparency, Growth of Hydrogen Market. A global source of commodity intelligence, ICIS, has announced the commencement of a weekly hydrogen market overview. The “ICIS Hydrogen Market Watch” acts as a central resource for market participants to monitor key developments in the nascent hydrogen market. In 2019, via its report,…
Andurand’s Oil Hedge Fund Crashes after Oil Price Bet Goes Awry After a wildly successful period amid soaring oil prices, legendary oil trader Pierre Andurand has seen his hedge fund suffer the worst ever loss after oil prices reversed course. Andurand’s main Andurand Commodities Discretionary Enhanced Fund, which makes leveraged bets, fell by another 7%…
NGA Commends FG Refocus on Autogas in the Wake of Fuel Subsidy Removal The Nigerian Gas Association (NGA), the umbrella body and the lead voice of the operators and players in the country’s entire gas value chain, is proud to announce its support for the Federal Government’s renewed focus on prioritising autogas to cushion the…
WIEN demands expedited delivery of deregulation dividends We in the Women in Energy Network (WIEN) keenly follow the emerging developments in the Nigerian domestic fuel market, especially the determination of the new administration of the federal government to activate the relevant sections of the Petroleum Industry Act 2021 that relate to market reforms. We observe…
Nigeria Revises 2021 Tax-to-GDP Ratio to 10.9% Nigeria has revised its tax-to-GDP ratio for 2021 to 10.86% from 6% following an adjustment to include revenues collected by other government agencies, the tax office chief said on Wednesday. Tax collection rates have hovered between 5%-6% of gross domestic product over the past 12 years, Federal Inland…
CNL decries the circulation of false recruitment information Lagos, May 24, 2023: Chevron Nigeria Limited (“CNL”), operator of the Nigeria National Petroleum Company Limited (“NNPCL”) and CNL Joint Venture, is aware of the circulation of false recruitment information in several media and online channels in the name of CNL and Chevron Corporation, purportedly advertising job positions…
Oil Prices Rise on Signs of a Tightening Market Oil prices rose in Asian trade early on Wednesday, following estimates of a large U.S. inventory draw and a warning from the Saudi energy minister for short sellers. In early morning trade in Europe, Brent Crude was up above $78 per barrel, at $78.06, rising by…
Australia and India to Boost Clean Energy Cooperation Australia and India on Wednesday pledged to work closer to advance renewable energy, increase cooperation in the critical minerals sector, and study green hydrogen development during a visit of Indian Prime Minister Narendra Modi to Australia. “Renewable energy was once again a focus and an important topic…
Oando and LAMATA Electric Mass Transit Buses Set to Revolutionize Mobility in Nigeria Oando Clean Energy Limited (OCEL), the renewable energy subsidiary of Oando, Nigeria’s leading energy solutions provider; in partnership with the Lagos Metropolitan Area Transport Authority (LAMATA) marked the formal commencement of operations of its electric mass transit buses in a grand ceremony…