57 Illegal Refining Sites Destroyed, 16 Oil Thieves Arrested in Military Incursions in Rivers The Defence Headquarters says troops of Operation Delta Safe (OPDS) have destroyed 57 illegal refining sites and apprehended 16 suspected oil thieves in the last two weeks. The Director, Defence Media Operation, Maj.-Gen. Musa Danmadami, said this on Thursday in Abuja…
U.S. Crude Trading at Big Discount to Dubai Oil Heavy trading in Dubai oil has lifted its premium to WTI crude to its highest since late March, a development that could make U.S. crude even more competitive in Asia. More traders have turned to Dubai after Persian Gulf producers such as Saudi Arabia hiked prices…
Subsidy Removal: Oil Marketers to Begin Fuel Importation As NMDPRA Vows To Protect Nigerians from Exploitation The Nigeria Midstream and Downstream Petroleum Regulatory Authority has assured that it would protect consumers from exploitative action following plans by oil marketers to begin fuel importation. The NMDPRA Chief Executive, Farouk Ahmed gave the assurance while briefing journalists…
Wärtsilä to Extend Regasification Capacity for Croatian LNG Terminal Technology group Wärtsilä has been contracted to extend the capacity of the regasification system installed onboard the ‘LNG Croatia’ with a new regasification module. The 280-metre long Floating Storage and Regasification Unit (FSRU) vessel is owned by Zagreb based LNG Hrvatska and acts as the company’s…
NMDPRA Issues Licences of Crude Oil Terminals to NNPC, Belema The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued Licence to establish new crude oil terminals to NNPC Limited and Belema Oil Producing Limited. NMDPRA is the Technical and Commercial Regulator of Midstream and Downstream Operations. The announcement was made by the Authority…
OPEC Report Shows Nigeria Reclaims Position as Top African Crude Oil Producer in May 2023 The Organization of Petroleum Exporting Countries (OPEC) report shows that Nigeria has regained its position as the top crude oil producer in Africa for May 2023. Nigeria produced 1.184 million barrels of crude oil per day during the month, according…
Nigerian Authorities Restore Immigration Documents of Seplat Energy CEO, Roger Brown Seplat Energy is pleased to announce that the Ministry of Interior (“Ministry”) and the Nigeria Immigration Service (“NIS”) have restored the Working Permit, Combined Expatriate Residence Permit and Aliens Card (“CERPAC”) and other Visas for the entry or stay in Nigeria (“Immigration Documents”) of…
Biden Administration Looks to Add 12 Million Barrels to the SPR this Year The federal government plans to buy some 12 million barrels as part of efforts to refill the strategic petroleum reserve after drawing down more than 200 million barrels from it last year. This is according to an unnamed source that spoke to…
Saudi Aramco Tops Forbes’ List of 100 Largest Companies in the Middle East Aramco is the biggest company in the Middle East in terms of sales, revenues, and market value, according to the latest Forbes list for the top 100 companies in the region. With a market value of $2.1 trillion and sales of $604.4…
SNEPCo paid more than $900 million in taxes, royalties in 2022 Shell Nigeria Exploration and Production Company (SNEPCo) paid a total of $907 million as taxes and royalties to the Nigerian government last year as its operations continued to contribute to the national purse to finance development. Also last year, the company and its partners…
