Oil Slips on Concerns Higher Interest Rates to Crimp Demand Oil edged lower on Tuesday on expectations that further interest rate hikes in the United States, the world’s biggest oil user, will slow economic growth and limit fuel demand. Brent futures for March fell 33 cents to $79.32 a barrel, a 0.4% drop, by 0719…
CNL restates commitment to Nigeria Chevron Nigeria Limited (“CNL”), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL is aware of a misleading media report alleging that Chevron plans to exit Nigeria. Please note that the allegation is untrue and does not represent the position of Chevron in Nigeria. CNL…
Rivers reads Riot Act to Petrol Station Outlet Owners over Price Hike As the hike of Price of Petrol Per liter bites in Rivers State, the State Commissioner of Energy and Natural Resources Engineer Uchechukwu Nwafor, has cautioned Petrol Station outlets Selling above Pump Price in Rivers State to desist from taking undue advantage of…
Spain to Approve Green Hydrogen Projects Regulation Spanish Prime Minister Pedro Sanchez said on Monday his cabinet will approve on Tuesday a new decree to regulate the first four out of 11 green hydrogen projects to be carried out in the country. In a speech in Madrid, Sanchez said his government will approve a 74…
Greenville LNG Fuels Sagamu Retail Station Greenville LNG, a pioneer Liquefied Natural Gas (LNG) production and distribution company in Nigeria, has fueled its first liquefied natural gas retail station in Sagamu, Ogun state. as fuel. Greenville currently operates a fleet of more than 500 trucks which are all 100% powered by LNG. The company’s innovative…
China Issues Second Set Of 2023 Oil Import Quotas, Up From 2022 China issued a second batch of 2023 crude oil import quotas, according to two sources with knowledge of the matter and documents reviewed by Reuters on Monday, raising the total for this year by 20% compared to the same time last year. According…
Fuel Importation to End by 2024 – FG The Federal Government on Monday projected that by the first Quarter of 2024 Nigeria will put an end to the importation of petroleum products into the country. The Minister of state Petroleum Resources, Timipre Sylva said by the first quarter of 2024 the rehabilitation of the Port-Harcourt refinery would be…
Rystad Energy, Afreximbank to Drive Invest in African Energy ALJAZEERA INTERVIEW The African Energy Chamber (AEC) (EnergyChamber.org) – the voice of the African energy sector – is proud to announce that multinational energy market research firm, Rystad Energy, and leading pan-African financial services provider, the African Export-Import Bank (Afreximbank), have been confirmed as the official…
Eradicating Crude Oil Theft will be my Legacy – Buhari President Muhammadu Buhari on Thursday assured that he will eradicate crude oil theft in the country as a legacy before leaving office in May 2023. The President said this in Port Harcourt on Thursday during an operational visit to selected Operation Delta Safe formations in…
YEAC Demands Alternative Livelihoods for Artisanal Crude Oil Refiners The Youths and Environmental Advocacy Centre, YEAC-Nigeria, says the Rivers State government would need to provide an alternative source of livelihood for the youths involved in artisanal crude oil refining, to ensure a permanent solution to soot in Port Harcourt and its environs. Executive…
