OPEC Oil Production Drops in March Crude oil production from OPEC declined by 70,000 barrels per day (bpd) in March compared to February, as operators suspended some production in Kurdistan due to a halt in exports from the Mediterranean and as Angola carried out some field maintenance, the monthly Reuters survey showed recently. All 13…
Commercial Real Estate Asset Managers Way off Carbon Emission …Reduction Targets Research Reveals Just 5% of asset managers say that 81-99% of portfolios will meet 2030’s 50% emissions reduction target Fewer than 7% say they will be net zero by 2050 Nearly all commercial real estate assets run by asset management professionals will miss their…
China 2023 Oil Refinery Output Forecast to Rise 8% on Demand Recovery – CNPC China’s oil refinery throughput this year is forecast to rise 7.8%, according to a think tank of state energy group CNPC, reversing last year’s decline as the world’s second-largest oil consumer is set for a recovery in fuel demand. Refinery throughput…
Mercedes Signs Deal with Spanish Renewables Giant Mercedes-Benz has signed a power purchase agreement (PPA) for 140 megawatts of wind energy with Spain’s Iberdrola. The agreement with Iberdrola will support Mercedes-Benz in meeting its renewable energy goals while shaving production costs and reducing carbon emissions, production chief Joerg Burzer said. The deal is expected to…
Monjasa Reformer seen 540 Miles West Offshore Gulf of Guinea A Danish-owned vessel, the Monjasa Reformer, that was boarded by pirates in the Gulf of Guinea on Saturday was spotted about 540 miles further offshore on Tuesday, according to a maritime cooperation centre monitoring security in the area. The Liberian-flagged oil and chemical tanker Monjasa…
Oil Exploration in Nasarawa will Enhance Energy Security for Nigeria President Muhammadu Buhari has said that the discovery and drilling of oil in Nasarawa State will lead to greater prosperity for Nigerians as well as enhance overall energy security for the country. A statement by the Special Adviser to the President(Media & Publicity), Femi Adesina,…
IPMAN Backs NNPC Ltd over Employment of Expatriates The Independent Petroleum Marketers Association of Nigeria, IPMAN has thrown its weight behind the recent employment of foreign nationals to head sensitive positions at the Nigerian National Petroleum Company Limited. It was reported that NNPCL recently announced the appointment of a French/Swiss national, Mr. Jean-Marc Cordier, as…
NMDPRA Cautions Stakeholders on Disaster Management in North-East The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) The Authority responsible for the technical and commercial regulation of the midstream and downstream operations in Nigeria, has urged petroleum marketers and other operators in the North-East to strictly adhere to safety procedures to guard against incessant fire…
NNPC Revenue Boost: Buhari Set to Flag-Off Oil Exploration in Nasarawa Barring any last minute change in plans, President Muhammadu Buhari will on Tuesday conduct the Presidential flag-off of Ebenyi-A Exploration Well located at Obi Local government Area in Nasarawa. The flag-off by the President will mark the exploration of crude oil in Nasarawa State…
Oil Gains Ground As Investors Assess Banks, Russia Oil prices rose on Monday as investors assessed efforts by authorities to rein in concerns over the global banking system while Russian President Vladimir Putin’s plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe. Brent crude futures were up 30 cents, or 0.4%,…
