Dr Theo Okeke, Executive Director and Chief Technical Officer, Eroton Exploration & Production Company speaks to Orient Energy Review In line with Dr Ibe Kachikwu’s (Minister of State for Petroleum Resources) ambition to up Nigeria’s daily crude oil production by a million barrels, Eroton, through innovative technologies has been able to ramp up its…
Turkey’s president has argued against severing economic ties with Iran as the United States readies for sanctions. Speaking in Ankara, President Recep Tayyip Erdogan said it goes against the independence of states to cut ties with its “neighbor and strategic partner” because the US demands it. President Donald Trump announced in May that he would…
The local and international financial markets, products and services update. NIGERIA: The Debt Management Office has set the maximum limit of $6.25bn (N1.906tn) for the Federal Government’s borrowing in the 2018 fiscal year. The DMO, in the 2017 Report of the Annual National Debt Sustainability Analysis released on Wednesday, said the $6.25bn was proposed to be…
New Delhi: India’s carbon-dioxide emission will rise to 3.8-3.9 gigatonnes by 2030 not 3.8-4.9 gigatonnes as was projected earlier, which is consistent with the Nationally Determined Contributions (NDC) pledge made at the 2015 Paris summit, according to a study by an Indian think-tank. According to the study by the Centre for Policy Research, even if emissions…
China National Petroleum Corp (CNPC) says it will spend more than 150 billion yuan ($22 billion) by 2020 to boost oil and gas output in the western region of Xinjiang, to offset falling output from ageing fields in northeast China. The increased spending will push output in the Xinjiang Autonomous Region to more than 50…
Kuwait Petroleum Corp (KPC) has sold 100,000 barrels per day (bpd) of its new light crude oil for loading in September as the fifth-largest OPEC producer increased exports after the group’s June meeting, trade sources said on Wednesday. KPC sold six 500,000-barrel cargoes of Kuwait Super Light Crude (KSLC) for loading in September via a tender…
Saudi Arabia has received bids from four consortiums competing to build a $500 million Saudi wind farm project, officials said, as the world’s top oil exporter pushes to diversify its energy sector. France’s EDF Energies Nouvelles placed the lowest bid for the 400-megawatt Dumat al-Jandal wind project in the northern Al Jouf province, while the…
Brent crude led oil prices higher, extending gains into a third day after Saudi Arabia suspended crude shipments through a strategic Red Sea shipping lane and as data showed U.S. inventories fell to a 3-1/2 year low. Brent crude futures had risen 66 cents, or 0.9 percent, to $74.59 a barrel by 0019 GMT, after…
Thursday’s trading activities on the floor of the Nigerian Stock Exchange for energy companies witnessed a marginal increase in the prices of Oando and Capital Oil’s shares. They recorded 0.05k and 0.02k gains, respectively. Japaul dropped by 0.02k. Eterna and Mobil Oil were unchanged. Gainers Oando: 0.05k CapOil: 0.02k Top Loser Japaul: -0.02k
Rivers State Governor, Chief Nyesom Wike, says the state is acquiring mobile cancer screening equipments to detect cancer-related ailments arising from the air pollution from hydrocarbon soot in the state. Black soot in Rivers State is believed to be caused by incomplete combustion of hydrocarbons by artisanal oil refiners and security agencies who sets ablaze…
