NLNG Advocates for Urgent Action to Secure Gains from Gas Nigeria must be deliberate in its desire to take opportunities offered by the energy transition, the recognition of gas as a transition fuel and the quest for clean energy to increase its gas investment and harvest the gains from gas, the Managing Director and Chief…
Zimbabwe Introduces Gold-Backed Digital Token (ZiG) As A Means of Payment Reserve Bank of Zimbabwe has launched its Gold-Backed Digital Token (ZiG), the bank in a statement noted that “in line with the resolutions of the Bank’s Monetary Policy Committee at its meeting of 26 September 2023, the Bank wishes to advise that with effect…
Over 40% of Our Executive Leadership Team Are women – HEOSL’s CEO These are indeed the best of times for women Petrotechs and allied professions Ado Oseragbaje, the Chief Executive Officer of Heritage Energy Operational Services Limited (HEOSL), has revealed that women constitute over forty percent of his top Leadership Team. This is a laudable…
HYPREP seeks community collaboration, ADR over Ogoni clean-up challenges The Hydrocarbon Pollution Remediation Project, HYPREP, has sought the collaboration of stakeholders and communities in enhancing the ongoing clean-up of Ogoniland, opting for Alternative Dispute Resolution, ADR, to address the challenges facing the project. Project Coordinator of HYPREP, Prof Nenibarini Zabbey, listed the challenges facing the…
IPMAN Backs Privatization of Nigeria’s Four Refineries The Independent Petroleum Marketers Association of Nigeria, IPMAN has thrown its weight behind the call for the privatization of the nation’s four refineries, for efficiency and optimal capacity operation. The Port Harcourt and Kaduna refineries were sold in May 2007 by former President Olusegun Obasanjo to Dangote and…
Canada Set to Add Nearly 600,000 Bpd to Oil Supply Next Year Global consulting firm Deloitte has predicted that Canadian oil producers will enjoy higher crude prices next year when the TMX pipeline begins transporting about 590,000 bbl/d for export. A large chunk of these additional exports is expected to go to markets outside the…
AFREXIM, ICRC Approve $1.2bn for Moribund Burutu Port The African Import Export Bank, AFREXIM Bank, in collaboration with the Infrastructural Concession Regulatory Commission, ICRC, have approved a $1.2billion loan facility to rehabilitate the moribund Burutu Port in Delta State. Disclosing this at the just concluded Nigerian Port and Trade Investment Forum held in Lagos an…
Russian oil and gas budget revenues more than doubled in October In October, Russia’s oil and gas revenues more than doubled to 1.635 trillion roubles ($17.63 billion) from 739.9 billion roubles in September, according to data from the finance ministry. These revenues, which have accounted for over 28% of the total Russian budget proceeds this…
OPEC Daily Basket Price Stood At $97.08 a Barrel Wednesday The price of OPEC basket of 13 crudes stood at $97.08 a barrel on Wednesday, September 27, 2023, compared with $94.47 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria),…
Afreximbank Turns to Oil Traders to Obtain $3bn Loan for NNPC Cairo, Egypt-based African Export-Import Bank (Afreximbank) is tapping oil traders to finance a $3 billion loan to Nigeria’s state oil company NNPC Limited aimed at supporting the naira and stabilising the foreign exchange market. The naira hit an all-time low of 1,000 to the…
