Oil Prices Firm On Upbeat U.S. Economic Data Oil prices rose for a second session on Friday, buoyed by better than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures gained $1.17, or 1.34%, to trade at $88.64 a barrel by 1332 GMT. U.S….
Sierra Leone Invites Investors to Engage in Licensing Round Director General of the Petroleum Directorate of Sierra Leone, Foday B. L. Mansaray, has implored investors to maximize the country’s upstream potential. He made this call during the Invest in African Energy reception in London recently, organized by the African Energy Chamber Having launched its fifth…
NDPHC Olorunsogo Plant to add 125 Megawatts to Nigeria’s Grid Nigeria’s power capacity is set to increase with an additional 125 megawatts to the national grid with the completion of the Olorunsogo Power Plant by the Niger Delta Power Holding Company (NDPHC) by end of the first quarter (Q1) 2023 findings have shown. The NDPHC…
Baltic States bought twice as much Russian LPG in 2023 Russian exporters more than doubled sales of liquefied petroleum gas to the Baltic states in 2022, some of which was sold on to Ukraine, according to data from three trading and freight-handling sources covering the region. The leap in purchases of Russian LPG came despite…
Qatar in Talks to Join Totalenergies’ $27bn Iraqi Energy Project Qatar is in talks to acquire a stake from French company TotalEnergies’ (TTEF.PA) $27 billion cluster of energy projects in Iraq, three sources told Reuters, as Baghdad hopes to stem efforts by Western energy companies to exit the country. A major investment by a Gulf…
Eroton Reports Fire at OML 18 Wellhead, Blames Incident on Vandalism Eroton Exploration & Production Company has reported fire at a wellhead at the Akaso field in its Oil Mining Lease, OML, 18 asset. The company said the incident, at the Cawthrone Channel operational area, occurred last weekend. Spokesperson of the company, Mercy Max-Ebibai, said…
CSOs Issues 14-Days Ultimatum to NNPCL, Security Agencies Civil Society Organisations in Rivers State have issued 14 days ultimatum to the Nigerian National Petroleum Company Limited, NNPCL and security agencies to solve the issue of fuel price hike in the state or face a full-blown protest. Chairman of CSOs in Rivers State, Mr. Enefaa Georgewill,…
Safe aviation Fuel for the future [embedyt] https://www.youtube.com/watch?v=xah5LYgq59c[/embedyt]
Cabotage Fund: NIMASA Meets with Five Select Banks The management of the Nigerian Maritime Administration and Safety Agency (NIMASA) on Wednesday met with the representatives of Jaiz Bank, United Bank of Africa (UBA), Union Bank, Zenith Bank and Polaris Bank for the disbursement of the Cabotage Vessel Financing Fund (CVFF). The five banks have been…
Oil Slips as U.S. Inventory Rise Offsets China Hopes Oil slipped on Wednesday, adding to a decline in the previous session, as a rise in U.S. crude inventories and global recession worries edged out optimism for a demand recovery in China. Crude has rallied in 2023, with global benchmark Brent crude topping $89 a barrel…