Brazilian state-run oil company Petroleo Brasileiro SA said it pre-paid, refinanced and raised new loans totaling $1.45 billion under a liability management exercise in August, according to a securities filing on Monday. The company said creditors involved in the refinancing effort included HSBC ,the Bank of China and the New Development Bank set up by…
Russia wants to curtail duty-free oil product flows to Belarus and is seeking a more transparent oil deal with the neighbouring country, Alexei Sazanov, head of the tax department in the Russian finance ministry, said in an interview. Russia, Belarus and Kazakhstan have a duty-free arrangement under which Moscow has been sending crude oil and…
Saudi Arabia’s sovereign fund has named Andrew Liveris, the former chairman and chief executive of Dow Chemical, as a special adviser, in its highest-profile appointment of any global manufacturing executive. Liveris will work closely with the Public Investment Fund (PIF) on matters of strategic importance, assist the fund in efforts to boost the value of…
03 September 2018, News Wires — Global stock markets fell for a third straight day on Monday, hurt by worries over the escalation of trade disputes between world powers and a deepening sell-off across emerging market currencies. With U.S. markets closed for Labor Day, trading activity was generally subdued. European shares were largely flat although London’s…
04 September 2018, Lagos — The Nigeria Security and Civil Defence Corps (NSCDC) in Lagos State on Monday said it had arrested 19 nationals of Benin Republic for alleged theft of over 50,000 litres of petroleum products. The NSCDC Commandant in the state, Mr Tajudeen Balogun, confirmed the arrest to newsmen while presenting the suspects and…
Mkpoikana Udoma 04 September 2018, Sweetcrude, Port Harcourt — The management of Port Harcourt Electricity Distribution Company, PHED, has entered in a partnership with the Rivers State Signage and Advertisement Agency, RISAA, to check erection of structures under high tension lines by members of the public. RISAA is a government agency that regulates outdoor signage and…
*The Brand Africa 100 ranking is based on a survey among consumers 18 years and older, conducted in 23 countries across Africa 04 September 2018, Sweetcrude, Lagos, Nigeria — Nigeria’s Dangote has emerged the most valuable brand among the top 50 brands in Nigeria for 2018 which were unveiled at the weekend in Lagos. This is coming barely…
L-R: Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru and Assistant President and Board Member of the CNPC, Mr. Wang Shihong at the meeting. China National Petroleum Corporation (CNPC) has assured the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, of its unflinching commitment towards securing…
The English version of the book was launched in English in June 2017 at Africa Oil & Power 2017 in Cape Town, and has since become a huge hit in Africa and abroad LONDON, United Kingdom, August 9, 2018/ — A year after its release, the global momentum created by the bestseller on Africa’s oil…
Demand for Nigerian grades through various tenders this week has helped push diffs higher. A number of refiners have taken cargoes of Nigerian grades, largely Qua Iboe and Agbami, through tenders in the last week or so, after months of favouring U.S. or Middle East grades. Uruguay’s ANCAP, Indian refiners IOC and HPCL and Chevron…
