NIPCO Targets Gas Powered Economy for Nigeria NIPCO Gas Ltd, a fully owned subsidiary of NIPCO Plc, is one of the companies at the forefront in the drive towards a Gas Powered Economy for Nigeria by 2030. This is evident in its recent projects aimed at making gas more accessible and affordable. NIPCO Gas believes…
CVFF will be disbursed before May 29 – Minister The Minister of State for Transportation, Ademola Adegoroye, has assured Nigerian shipowners that the Federal Government will disburse money accrued under the Cabotage Vessel Financing Fund (CVFF) to them before the end of the current administration on May 29. Speaking at the maiden Annual Lecture of…
PCTS will Remain Contributing Partner to Nigeria’s Progress in Oil and Gas Industry – Chairman The Chairman of the Petroleum Contractors Trade Section, PCTS, (a subgroup of the Lagos Chamber of Commerce and Industry, LCCI), Tayo Akinkunmi, has said that the association will remain a contributing partner to Nigeria’s progress in the oil and gas industry. Akinkunmi…
U.S. and EU Pledge to Combat any Attempts to Disrupt Global Energy Markets In response to Russia’s threats to global energy security, the United States and the European Union are strongly committed to combat attempts at energy market disruptions, the two sides said recently after a meeting of top American and EU officials in Brussels….
Putin Approves $1.2 Billion Payment to Shell for Sakhalin-2 Exit Russian President Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported, quoting sources with knowledge of the matter….
Oil Surges as OPEC+ Surprise Output Cuts Shake Markets Oil prices surged on Monday, posing the biggest daily rise in nearly a year, after a surprise announcement by OPEC+ to cut more production jolted markets. Brent crude was trading at $84.22 a barrel by 0900 GMT, up $4.33, or 5.4%, after touching the highest in…
Gazprom’s Exports to Europe Up 4% in March From Feb – Reuters Calculations Gazprom’s gas supplies to Europe were up 4% on a daily basis in March compared to February, according to Reuters calculations based on shipment data from Gazprom’s daily transit volumes sent through Turkey and Ukraine. Since Russian gas supplies to Europe through…
Buhari Approves Amendment of 2022/2023 Deep Offshore Oil Block Mini-Bid Round Schedule By Ikenna Omeje President Muhammadu Buhari has approved the amendment of the 2022/2023 Deep Offshore Oil block Mini-Bid round calendar to accommodate the concerns expressed by both local and international investors over the closeness of the schedule to the terminal date of the…
OPEC Cuts Crude Oil Production By 1.66 Million BPD The Organisation of Petroleum Exporting Countries (OPEC) and its allies, together known as OPEC+, have made voluntary cut of crude oil production of 1.66 million barrels per day (mbpd). To ensure stability of the oil market, OPEC+ early in October had cut production by 2 mbpd…
Brazil’s Oil Exports Surge to Record-High despite New Tax Despite a new export tax, Brazilian oil exports have jumped to a monthly record-high this month, Reuters reported over the weekend quoting government data and industry experts. Brazil’s oil exports soared by 75.4% year over year between March 1 and 24, per data from foreign trade…
