Oando Partners Government for Sustainable Transport Initiative in Lagos Oando has partnered with the Lagos State Goverment on the need for sustainable transport initiative in Lagos state. With over 20 million residents, Lagos is the most populous city in Africa and among the fastest-growing megacities in the world. Over the last decade, the number of…
Nigerian Minister Meets Tompolo, Others over Crude Oil Theft The Federal Government has met with an ex-agitator and the former leader of the Movement for the Emancipation of the Niger Delta, High Chief Government Ekpemupolo aka Tompolo, over crude oil theft in the Niger Delta region. The Minister of Niger Delta Development, Mr. Abubakar Momoh,…
Saudi Arabia May Start Unwinding Its Production Cuts Sooner Than Expected Saudi Arabia could begin easing its production cut sooner than oil market participants believe as the world’s top crude oil exporter wouldn’t risk demand destruction through too high prices, consultancy Rapidan Energy Group says. Due to the Saudi and OPEC+ cuts and falling commercial…
Russia Sells Urals Oil to India at $20 above the Price Cap Tightening global crude supply and rising international prices have raised the price at which Russia’s crude is being sold to India at about $20 per barrel over the G7 price cap of $60, traders have told Reuters. The Russian flagship crude grade, Urals,…
OPEC Daily Basket Price Stood at $95.31 a Barrel Monday The price of OPEC basket of 13 crudes stood at $95.31 a barrel on Monday, September 25, 2023, compared with $95.73 last Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend (Algeria), Girassol…
IPMAN Flays NNPCL for Allegedly Reintroducing Fuel Subsidy Payments The Independent Petroleum Marketers Association of Nigeria, IPMAN, has raised the alarm over alleged secret reintroduction of fuel subsidy payment by the Federal government. Recall that President Bola Ahmed Tinubu on assumption of office on May 29th 2023, announced the total removal of subsidy on petrol…
Kenya to Build Nuclear Power Plant in 2027 Kenya has announced that it intends to kick off the construction of its first nuclear power plant in 2027, as the country seeks to further diversify its energy generation amid rising demand and push for zero-carbon energy, The East African reports. Disclosing the plans, Acting CEO of…
NNPC/SNEPCo Scholars Record Outstanding Results in Examinations Beneficiaries of the National Cradle-to-Career programme of the Nigerian National Petroleum Company Limited (NNPC) and Shell Nigeria Exploration and Production Company (SNEPCo) recorded outstanding performances in two secondary school examinations, as the initiative continues to offer opportunities for bright young Nigerians to achieve their educational ambitions. Of the…
TotalEnergies Sells 40% Interest in Angolan Oil Block to Petronas Ahead of its Development TotalEnergies has sold 40 percent interest in Angolan Block 20 in the Kwanza Basin to Petronas ahead of its development. The French oil giant made the disclosure in a statement on Thursday. According to TotalEnergies, the transaction was completed for an…
Oil Surges more than $1 as tight Supply Dominates Oil prices surged about 3% on Wednesday, after U.S. crude stocks fell more than expected, adding to worries of supply tightness amid OPEC+ production cuts. Brent crude futures breached $97 a barrel, and was trading up $2.55 to $96.51 a barrel by 11:40 a.m. ET (1540…
