Oil Marketers push for Petrol Price Hike amid Deregulation Oil marketers are clamouring that market indicators should determine the price movement of Premium Motor Spirit, commonly known as petrol, even if it means the price could potentially reach N700. This comes after a 165 per cent increase in petrol prices to N500 following President Bola…
U.S. Supports GAF Fight Against Piracy in Gulf of Guinea The U.S. is to invest $48 million this year to help train and equip the Ghana Armed Forces, GAF, to fight piracy and illegal fishing to improve maritime security in the Gulf of Guinea. “We know security threats don’t just come from the Sahel; piracy…
Oando PLC joins AEW 2023 as Platinum Sponsor & Clean Energy Partner The African Energy Chamber (AEC) (www.EnergyChamber.org) is pleased to announce that Nigerian multinational energy company Oando PLC has joined the African Energy Week (AEW) 2023 conference and exhibition – taking place on 16 – 20 October 2023 in Cape Town – as a…
NNPC signs agreement with UTM Offshore for FLNG project The UTM FLNG project is expected to produce 176 million cubic feet of gas per day from the Yoho offshore field. Nigerian National Petroleum Company (NNPC) has signed a heads of terms agreement with oil and gas company UTM Offshore for the construction of what is claimed…
Nigeria Energy Returns to celebrate 10 Years of Driving West Africa’s Energy Sector Growth Nigeria Energy Exhibition and Conference, West Africa’s largest and most established energy gathering featuring some of the most innovative power companies, from conventional power generation through to transmission and distribution and renewable energy and energy consumption and management in the region,…
U.S. mayor seeks expansion of trade, relations with Nigeria Mr Sylvester Turner, Mayor of Huston, United States of America, says he is engaging with the Nigerian government for the establishment of a Consular Office in Huston and direct flight to expand trade, and relations with Nigeria. Turner made this known while addressing some Nigerian journalists…
OPEC Daily Basket Price Stood at $80.33 Per Barrel on Tuesday The price of OPEC basket of 13 crudes stood at $80.33 a barrel on Tuesday, July 18, 2023, compared with $80.05 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend…
Market Realities Responsible for Recent Increase in Petrol Pump Price – NNPC The Nigerian National Petroleum Company Limted, has attributed the increase in the price of Premium Motor Spirit (PMS) otherwise known as petrol to the market realities. This was made known by the Group Chief Executive Officer of NNPC, Malam Mele Kyari, during an…
Oil steadies as investors eye U.S. crude supplies – Reuters Oil prices were little changed on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both benchmark contracts fell more than 1.5% on Monday following lacklustre economic data from China, the world’s largest oil importer, as well as the…
Oil marketers begin fuel importation — NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, yesterday, said oil marketers have started importing petrol into the nation. Until now, the importation of the product was solely done by the NNPC Limited. But speaking at the stakeholders’ engagement in Lagos, Monday, the chief executive officer of…
