JTF Intercepts 14 Boats with Stolen Crude. The Niger Delta Joint Task Force, Operation Delta Safe, has destroyed multiple illegal refining sites in Abia State. The JTF Commander, Rear Admiral John Okeke, announced this in a statement released in Yenagoa on Sunday. Okeke reported that the task force intercepted 14 boats loaded with crude oil…
BP, PDVSA Rush to Complete Gas Deal Before Venezuela Election. British oil and gas producer BP, Venezuela’s state oil company PDVSA, and Trinidad and Tobago’s National Gas Company (NGC) are hastening negotiations to secure a Venezuelan license to develop natural gas deposits in the Caribbean Sea, according to four sources familiar with the matter. Last…
Safe Inland Ferry Services: “A Boost for Blue Economy Potentials” – Adalikwu Dr. Paul Adalikwu, Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), emphasized the potential of safe inland waterways ferry services to enhance the blue economy in African countries. At MOWCA’s recent Regional Workshop on Safety of Inland Waterways and…
Oil Market Likely to Be in Surplus Next Year, Morgan Stanley Says. Morgan Stanley predicts that the current tightness in the crude oil market will ease next year, leading to a surplus, with Brent prices expected to decline to the mid-to-high $70s range. The bank’s report, dated Friday, indicates that while the market will remain…
Turkey to Send Navy to Somalia After Agreeing Oil and Gas Search. Turkey is set to deploy naval support to Somali waters following an agreement between the two countries allowing Ankara to send an exploration vessel off the coast of Somalia to search for oil and gas. President Tayyip Erdogan submitted a motion to the…
Nigeria Produced 236m Barrels of Crude in Six Months – NUPRC. Data obtained from the Nigerian Upstream Petroleum Regulatory Commission confirmed that 44.2 million barrels of crude were produced in January, while the country pumped 38.3 million barrels of oil in February. Similarly, 38.1 million barrels were produced in March, and the monthly production for…
FG Warns Organisers of Hunger Protest Against Violence. The Federal Government has urged the promoters of the proposed nationwide hunger protests to pursue dialogue rather than resorting to disorder. The government emphasized its commitment to engaging with stakeholders on the country’s economic, social, and political challenges. Mallam Lanre Issa Onilu, the director-general of the National…
EKEDC Harps on Safety, Battles Energy Theft and Vandalism. The Eko Electricity Distribution Company (EKEDC) has raised alarms over the increasing incidents of energy theft and vandalism within its operational area, which have resulted in significant revenue losses. These concerns were voiced during a town hall customers’ forum held on Thursday in Lagos. Mrs….
Petrol Marketers Report Petrol Landing Cost Reaches N1,117 per Litre. The Major Energy Marketers Association of Nigeria (MEMAN) has revealed that the landing cost of Premium Motor Spirit (PMS), commonly known as petrol, reached N1,117 per litre as of July 16, 2024. This suggests that the Nigerian National Petroleum Company (NNPC) Limited is still subsidizing…
OPEC+ Unlikely to Change Oil Output Policy at Aug 1 JMMC Meeting, Sources Say. A mini OPEC+ ministerial meeting scheduled for August 1 is unlikely to recommend changes to the group’s output policy, including the plan to begin unwinding one layer of oil output cuts starting in October, according to three sources who spoke to…
