World stocks came under pressure on Thursday as new tariffs took effect in the U.S./China trade war and markets speculated about U.S. President Donald Trump’s position following legal rulings against two former advisers. The MSCI world equity index, which tracks shares in 47 countries, was 0.1 percent lower by 1116 GMT, while a rise across…
Total’s $3.3 billion Floating Production Storage and Offloading vessel, the Egina FPSO will depart from the Lagos Deep Offshore Logistics Base, LADOL Free Zone this week SweetcrudeReports has learned. The 200, 000 barrels per day capacity production vessel which arrived in January from South Korea, ought to have left LADOL’s yard since June however, according to…
Equinor sees scope to further reduce development costs at the Johan Sverdrup oilfield in the North Sea, as it looks to maximise the potential of what could be the last giant field to be found off the Nordic country. The field, one of the five largest oil finds offshore Norway, is estimated to contain up…
The global market for surface mining trucks is expected to grow steadily to 2020, primarily driven by the growing demand from mining companies operating across the Asia-Pacific (APAC) region, says leading data and analytics company GlobalData. The company forecasts that increased production at existing mines and over 270 new surface mines scheduled to commence operations…
Benchmark Brent crude oil was down 40 cents a barrel at $74.38 by 1330 GMT. U.S. light crude was 40 cents lower at $67.46. “The bullish afterglow of yesterday’s drop in U.S. oil stocks is fading as concerns over the U.S.-China trade spat return to the fore,” said Stephen Brennock, analyst at brokerage PVM Oil…
A report by Reuters quoting four senior industry sources has hinted that Saudi Arabia has called off plans for the domestic and international listing of state oil giant Aramco, billed as the biggest stock flotation in history. However, early on Thursday, Saudi Arabia’s energy minister issued a denial that the IPO had been called off. “The…
A total of 60 Ogoni women have been trained by a group known as Lokiaka Community Development Centre, on how to monitor the forthcoming clean-up and remediation of hydrocarbon polluted sites in Ogoniland as recommended by the United Nations Environment Program, UNEP. The women, according to the group were selected from oil-impacted communities across the four…
The Federal Government has been urged by groups to make constitutional provision that will guarantee automatic savings of surplus from oil revenue in the Excess Crude Account, ECA. The groups, Shehu Musa Yar’adua Foundation and the Nigeria Natural Resource Charter, made the call as their resolution during a roundtable on savings and stabilisation mechanism for…
Kaduna Electric has said it lost over N50 million worth of equipment and installations to activities of vandals across its franchise states between January and June, this year. According to the company, over 150 attacks were carried out by the vandals on its facilities within the period. A statement signed by the company’s Head, Corporate…
Why is it that Africa, which hosts some of the most abundant mineral and energy resources in the world, is not fully benefitting from this wealth? A significant share of recent new investments for mineral and energy resource exploration and development has been in Africa and this needs to contribute directly to the inclusive prosperity…
