Kuwait sells 100,000 bpd of new light crude oil in September, say sources

Kuwait sells 100,000 bpd of new light crude oil in September, say sources

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 receives four bids for $500 mn wind farm

Saudi Arabia receives four bids for $500 mn wind farm

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…

Oil rises after Saudi Arabia suspends shipments through Red Sea lane following attack

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…

Japaul drops, Oando, CapOil gain in Thursday’s trading

Japaul drops, Oando, CapOil gain in Thursday’s trading

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 acquires cancer screening equipments over hydrocarbon soot

Rivers acquires cancer screening equipments over hydrocarbon soot

 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…

DPR approves 16 new oil fields’ development plan

DPR approves 16 new oil fields’ development plan

 The Department of Petroleum Resources, DPR, has said it approved 16 new oil and gas fields’ development plan, FDP, in 2017. According to a document obtained from the agency on Thursday at the ongoing three-day workshop for media practitioners in Lagos, the approval of the new fields will increase the nation’s oil and gas production by…

NCDMB, BOI to meet Oil Coys, Banks over access to $200m NCI Fund

NCDMB, BOI to meet Oil Coys, Banks over access to $200m NCI Fund

The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BOI) have scheduled meetings with oil and gas service companies, community contractors and commercial banks in a bid to address the factors responsible for the slow disbursement of the US$200 million dollars Nigerian Content Intervention Fund (NCI Fund). NCI Fund is a…

AFRICA OIL & POWER CONFERENCE HIGHLIGHTS NIGERIA MEGAPROJECTS, GAS AND POWER INITIATIVES

AFRICA OIL & POWER CONFERENCE HIGHLIGHTS NIGERIA MEGAPROJECTS, GAS AND POWER INITIATIVES

Hon. Dr. Emmanuel Ibe Kachikwu, Minister of State, Petroleum Resources to speak at Africa Oil & Power event in Cape Town, South Africa. AOP 2018 takes place on September 5-7, 2018 and brings together 500 public and private sector delegates from Nigeria and around Africa. This year’s conference features a Nigeria-themed exhibition area and on-stage…

Shell secures exploration acreage offshore Mauritania

Shell secures exploration acreage offshore Mauritania

Shell Exploration and Production Mauritania (C-10) B.V. and Shell Exploration and Production Mauritania (C-19) B.V. (“Shell”) today signed two Production Sharing Contracts with the government of Mauritania for the exploration and potential future production of hydrocarbons in the offshore blocks C-10 and C-19. “This move represents Shell’s entry into the West African Atlantic Margin exploration…