U.S. refiners have turned to several lesser-used oil suppliers in the wake of U.S. sanctions that restricted usual providers of widely-used grades as they gear up for peak driving season. Iraq, Nigeria, Brazil and Angola combined this month are set to deliver their most crude oil to the United States in more than 18 months,…
Nigerian investors and industry players will be keeping an eagle eye on a current wave of investment opportunities about to open up for local companies as International Oil Companies (IOCs) move to fully divest from onshore assets. According to sources, oil majors in Nigeria are expected to be selling off their onshore assets while focusing…
Invictus Energy has announced that the Cabora Bassa Project partners, comprising Invictus (80%) and One-Gas Resources (20%), have entered into a non-binding Memorandum of Understanding (MOU) with Sable Chemical Industries to progress gas supply from the Cabora Bassa Project subject to a commercial gas discovery being made from SG 4571. Sable is the sole manufacturer of agriculture grade ammonium nitrate fertiliser in Zimbabwe…
Two legal experts from the International Atomic Energy Agency (IAEA) are in Rwanda for a three-day mission to train Rwandan officials about the international legal framework on how to ensure nuclear safety, security, and civil liability for nuclear damage. Attended by about 25 officials and experts from different Rwandan institutions, the training is being conducted…
BHGE (BHGE.com) to provide turbomachinery equipment for four FLNG compression trains for BP’s Greater Tortue Ahmeyim natural gas project; Award is second major contract for Greater Tortue development, expanding on BHGE’s contract for subsea production equipment; Floating LNG facility to provide circa 2.5 million tonnes of LNG per annum and represents the first stage of a…
Flintstone Technology has secured a substantial contract with MODEC for its in-line tensioning and pull through connection mooring system to be deployed off West Africa. The system will be used on Tullow Oil’s Kwame Nkrumah MV21 floating production storage and offloading (FPSO) vessel located on the Jubilee field off the coast of Ghana. The mooring…
Beginning from today (Tuesday) containers and oil tankers would start moving goods from Lagos ports through the newly acquired Railway wagons to the north. The goods would move to the dry port in Kaduna in the North. The transport minister Rotimi Amaechi had ordered some wagons for the Lagos-Ibadan railway for the purpose. This measure…
Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the West African country’s government said in a London lawsuit that it believes a handful of executives, including CEOs, were tied to more than $1 billion in bribery payments. In court documents filed in early April, the Nigerian…
Nigerian investors and industry players will be keeping an eagle eye on a current wave of investment opportunities about to open up for local companies as International Oil Companies (IOCs) move to fully divest from onshore assets. According to sources, oil majors in Nigeria are expected to be selling off their onshore assets while focusing…
Budapest, 3rd May, 2019 – Today, MOL Group announced its financial results for Q1 2019. In the first quarter MOL Group delivered over USD 500mn EBITDA in line with the full-year guidance. Upstream EBITDA remained flat year-on-year in the first quarter at USD 283mn (HUF 79,4bn) as strong production offset other negative drivers. Production further edged…