* Saudi oil output edges lower * Nigeria cuts supply but still exceeds quota * Angolan output posts biggest rise after maintenance OPEC oil output fell in December as Nigeria and Iraq adhered more closely to pledged reductions and top exporter Saudi Arabia made further cuts ahead of a new production-limiting accord, a Reuters survey…
Mexico City — Mexican President Andres Manuel Lopez Obrador said on Friday it will be a long time before Mexico produces enough natural gas to become self-sufficient and the country will continue to rely on imports until then, a boon for U.S. exporters. Mexico imports more than 70% of its gas needs from abroad, and more…
London — Asian spot prices for liquefied natural gas (LNG) were little changed this week amid quiet trade and low liquidity. The average LNG price for February delivery into northeast Asia LNG-AS was estimated at around $5.10-$5.20 per million British thermal units (mmBtu). “Demand is still weak following the Christmas and New Year holidays and there…
Lagos — The success of LADOL has proven the efficacy of the United Nations Sustainable Development Goals, SDGs, as a framework for the development of new economy businesses and for maximising local content in low income high growth countries. Managing Director of Lagos Deep Offshore Logistic Base, LADOL, Dr Amy Jadesimi who made the disclosure at…
Port Harcourt — The Trade Union Congress of Nigeria, TUC, has urged President Muhammadu Buhari to as a matter of urgency relinquish his position as the Minister of Petroleum Resources, following the rise on petrol subsidy, as announced by the Petroleum Products Pricing Regulatory Agency. TUC National President, Comrade Quadri Olaleye, in his new new year…
The Petroleum Technology Development Fund, PTDF, has emerged with its scholarship for foreign postgraduate studies. In a document obtained by The Daily, PTDF stated: “PTDF scholarships are highly competitive and only applicants who are outstanding across board are selected. A selection committee will be constituted to assess applications using the following criteria. Academic merit as evidenced…
Australia has become the world’s largest exporter of Liquefied Natural Gas (LNG) on an annualised basis. In a document sent to The Daily, Chief Executive, EnergyQuest, Dr Graeme Bethune, stated: “In sending overseas, an estimated record 77.514 million tonnes (Mt) of locally produced LNG in calendar 2019, Australia edged out former No. 1 LNG export…
There are indications that the world of Liquefied Natural Gas, LNG, is set to become more dynamic in the coming years. At present, Australia has overtaken Qatar as the world’s largest exporter of LNG on an annualised basis. In a document sent to The Daily, Chief Executive, EnergyQuest, Dr Graeme Bethune, stated: “In sending overseas,…
The Association of Nigerian Electricity Distributors (ANED) has stressed that Nigeria’s new electricity tariff will take effect from April 1, 2020. The Executive Director of Association of Nigerian Electricity Distributors (ANED), Barrister Sunday Oduntan, stated: “We make this statement to inform all our esteemed customers that we are not unmindful of news making the rounds…
The Nigerian Electricity Regulatory Commission (NERC) says no tariff increase has been approved by the commission yet. Mr Usman Arabi, General Manager, Public Affairs (NERC) made the clarification in a statement issued on the agency’s website, obtained in Lagos on Sunday. Arabi said :” The attention of the NERC has been drawn to the publication…