A leading indigenous oil and gas company, Oilserv Group, has commissioned a new corporate office complex sited in the premises of the registered base in Port Harcourt, Rivers State, Nigeria. The magnificent edifice, which was officially commissioned for business by Rev. Timothy Agbai, is a four storey building sitting on a 500sqm area with a…
The Canadian oil-producing province of Alberta will increase crude production limits by 25,000 barrels per day in May and a further 25,000 bpd in June, the government said on Monday. The increases mean that by June, oil companies will be limited to 3.71 million bpd of production. Alberta mandated production cuts this year to ease…
Lagos — Since the privatization of the power sector by the Electric Power Sector Reform, EPSR Act of 2005, there has been a constant decline in the metering of existing customers by the electricity distribution companies even though new customers have been steadily added to their network, contributing to a significant metering gas, SweetcrudeReports has found….
Talks between Exxon Mobil and Algeria to develop a natural gas field in the North African country have stalled because of domestic unrest, industry sources said. Irving, Texas-based Exxon entered talks with Algeria’s national oil company Sonatrach several months ago to develop a field in the southwestern Ahnet basin, the sources close to the discussions…
The Italian Government has signed an agreement for an additional €1 million contribution to the Multi-Partner Somalia Infrastructure Fund. Established by the Bank in October 2016, the Fund is one of the financing windows under the Somalia Development and Reconstruction Facility of the New Deal Compact for Somalia. It aims to support and accelerate Somalia’s…
Civil Society Organisations have called on the Rivers State Government to set up an oil communities development commission, to address the issue of underdevelopment in oil producing communities in the state. The State Chairman, Civil Society Organisations, Enefa Georgewill, in a communique read at the end of its meeting in Port Harcourt, said the call…
Oil prices fell on Wednesday, dragged down by concerns about global economic growth as the U.S.-China trade dispute rumbled on, but receiving some support from tightened supply. International Brent crude oil futures were at $67.35 a barrel at 1250 GMT, down 26 cents, or 0.38 percent. U.S. West Texas Intermediate (WTI) crude futures were at…
Port Harcourt — I have a friend who is of the view that government is a mystery, and that the ways of government are mysterious. This domestic philosopher, or, as he calls himself “thinker,” will thrill you with his scenarios and suppositions, but each time he is in his elements, all we feel we owe him…
Nigeria’s Budget Minister, Udoma Udo Udoma, has said the government will reduce its stake in Joint Ventures, JV, to 40 percent this year. According to him, the move was to boost revenue. International oil companies such as Royal Dutch Shell, Chevron and ExxonMobil are in JV agreement with Nigeria through the Nigerian National Petroleum Corporation….
The Nigerian National Petroleum Corporation, NNPC, has issued its 2019 -2020 crude-for-product swap tender. According to the state-owned oil company through its official Twitter account, the tender will close on May 2 at noon. The Direct Sale Direct Purchase, DSDP tender document did not specify what date the swap will start or the quantities to be…