OPEC+ Decisions not Politicised- Saudi Energy Minister Decisions by OPEC+ are not politicised and are based on market fundamentals, Saudi Arabian energy minister Prince Abdulaziz bin Salman said on Monday, adding that the alliance of oil producers is sufficiently flexible to adjust policy as needed. Prince Abdulaziz was speaking at a media forum in the…
China Set for Record Crude Oil Imports in 2023- Analysts China is expected to import a record amount of crude oil in 2023 due to increased demand for fuel as people travel more following the dismantling of COVID-19 controls and as a result of new refineries coming onstream, analysts said. The prospect of strong demand…
NBS says Petrol Price Increased By 54.52% in One Year National Bureau of Statistics (NBS) says the average retail price paid by consumers for Petrol increased from N166.40 in January 2022 to N257.12 in January 2023. This is according to the NBS Premium Motor Spirit (Petrol) Price Watch for January 2023 released in Abuja on…
Oil and Gas Concessions Could Break the Net-Zero Banking Alliance Internal tensions are rising within the Net-Zero Banking Alliance, an offshoot of the Glasgow Financial Alliance for Net Zero, as transition-focused members get annoyed that less conscientious ones are being allowed to continue financing oil and gas. According to a Bloomberg report, the Net-Zero Banking…
U.S. Gasoline Prices Are Dropping, Except in the West The national average price for a gallon of gasoline in the United States appears to be holding steady, but consumers out West are seeing hikes, Gas Buddy said in a Monday note— and prices across the country may rise starting next month. The national average for…
NNPC syas it has 1.8bn Litres of Fuel For Feb, March Contrary to reports making the rounds that the country may soon experience fuel scarcity as Nigeria National Petroleum Company Limited (NNPCL) depot almost running low, the company says it has put in place a “robust” plan for the supply of Premium Motor Spirit (PMS),…
EU Fails to Reach Fossil Fuels Phase-Out Deal Monday’s meeting of European Union foreign ministers failed to lead to the adoption of rules for a phase-out of fossil fuels as European countries argue over the categorization of nuclear energy as part of the energy transition. The meeting was intended to reach an agreement that would…
IFC and ALD Partner to Scale Green Vehicle Fleets in Emerging Markets Paris, France, February 20, 2023 — IFC and ALD, a leading global vehicle leasing company and a subsidiary of Societe Generale, today announced a partnership to reduce carbon emissions in transport by accelerating the adoption and penetration of green vehicles in emerging markets. The…
SNEPCo wins 2023 OGTAN National Award of Excellence Shell Nigeria Exploration and Production Company (SNEPCo) has won the 2023 Oil and Gas Trainers Association of Nigeria (OGTAN) National Award of Excellence for Human Capacity Development in the Oil and Gas Industry. The award comes three days after SNEPCo achieved 1-billion-barrel oil export from Bonga field….
Nigerdock Completes First Phase of its Shift to Renewable Energy Nigerdock has initiated moves to change its electricity source from fossil fuel to renewable energy through the installation of solar energy solutions at Snake Island Integrated Free Zone. Speaking on the initiative, Nigerdock CEO, Maher Jarmakani said that the firm has also completed its strategy…