Weakening Demand Could Send Oil Prices Back Down to 71 USD – Gunvor Brent Crude prices could retest the $71-72 per barrel threshold over the next six months amid weakening demand in Europe and the United States and a lot of uncertainty over China’s consumption, commodity trading giant Gunvor Group says. The oil market is…
NAEC Conference – Industry Leaders, Experts to Discuss Opportunities in Energy Sector Industry leaders and expert speakers will on October 05, 2023 share insights, leanings and provide the very best peer-reviewed analysis on opportunities to the already dwindling investments in Nigeria’s energy sector. In a release signed by the Public Relations officer of the Association…
Navy says NIMASA’s Deep Blue Assets Deployed Enhances Maritime Operations The Nigerian Navy says assets acquired by the Nigerian Maritime Administration and Safety Agency, NIMASA under the Integrated National Security and Waterways Protection Infrastructure, otherwise known as the Deep Blue project, have been deployed across the Southwest, Central and Eastern Zonal operations to enhance patrol…
Sinopec not Interested in Acquiring Singapore Assets of Shell Asia’s top refiner, Sinopec Corp, is not interested in acquiring Shell’s refinery or petrochemical plant in Singapore although it is keen on participating in a shale gas project in Saudi Arabia, the Chinese company’s president said recently. Sinopec President Yu Baocai was speaking after sources last…
South African Rand Edges Up at Start of Data-Filled Week The South African rand edged up against a weaker dollar in early trade on Monday, at the start of a packed week for local economic data. At 0645 GMT, the rand traded at 18.5750 against the dollar, about 0.2% stronger than its closing level on…
Nigeria’s Unemployment Rate Drops Sharply to 4.1% About three-quarters of Nigeria’s workers were employed as the jobless rate fell to a record low in the first quarter, the statistics office said, after it revised the methodology for computing the data “in line with international best practices”. The unemployment rate stood at 4.1% in the first…
Eni Begins Oil and Gas Production at Ivory Coast Baleine Field Italy’s Eni (ENI.MI) has begun oil and gas production at the giant Baleine field in deep waters offshore Ivory Coast, the energy group said on Monday, confirming a previous announcement by the Ivorian energy ministry. The Italian energy group, whose presence in the African…
BRICS Bank can help African Countries Tackle Urgent Challenges The New Development Bank created by BRICS countries in 2015 can help finance African countries’ projects to tackle their most urgent challenges, the bank’s president Dilma Rousseff said recently. The BRICS countries are “good partners” for Africa, former Brazilian President Rousseff said in a speech in…
LNG Tanker Prices Soar Earlier Than Usual Ahead Of Winter The pre-winter seasonal rally of LNG tanker charter prices has started earlier than in previous years amid expectations of high demand for the winter and uncertainties over a potential strike in Australia that could curtail 10% of global LNG supply. Spot LNG charter rates for…
Court Upholds Host Communities’ Recognition in NOGICD Act, PIA The Federal High Court sitting in Abuja has upheld that the community where the operational activities of an oil and gas firm are taking place, reserves the hosting rights in such circumstance and should be engaged in that regard by the firm carrying out such operation….
