The Poland state-controlled natural gas group, PGNiG plans to terminate its current natural gas supply deal with Russian giant Gazprom when it expires at the end of 2022. PGNiG which announced this in a market filing on Friday, said that the diversification of sources especially liquefied natural gas (LNG), the purchase of gas deposits in…
Iran has introduced quotas for the retail sale of petrol and increased its prices, which will go into effect on Friday, the National Iranian Oil Products Distribution Company said in a statement. The move envisages that owners of private cars will be able to purchase 60 litres (13.2 gallons) of the product per month, while…
Aiteo Eastern Exploration and Development Company of Nigeria Limited (“Aiteo”) is, yet again, constrained to alert all stakeholders of the recent spate of sustained attacks on the key national oil infrastructure in its asset base, the Nembe Creek Trunk Line (NCTL). Despite significant investments in security, technology and civic engagements, the destructive pattern of pipeline…
Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support. Prices, however, were capped by mixed signs for oil demand in China, the world’s biggest crude importer, as industrial output rose more…
The Department of Petroleum Resources (DPR) has warned members of Independent Petroleum Marketers Association of Nigeria (IPMAN) and tanker drivers in Osun against fuel diversion in the state. Mr Ademola Makinde, DPR’s Operations Controller in Osun, gave the warning at the maiden sensitisation workshop for IPMAN members with the theme “Oil and Gas Safe Practices:…
The Nigerian National Petroleum Corporation (NNPC) and the United States Trade and Development Agency (USTDA) have concluded arrangement to sign a 1.16 million dollar grant as part funding for the NNPC-Abuja Independent Power Project (IPP). The Corporation disclosed this in a statement by Mr Samson Makoji, Acting Spokesman for NNPC, in Abuja on Thursday. He said…
****Stakeholders commend Total marketing strategies An aviation expert, Mr Adewale Sanni n Thursday urged oil marketing companies to institute trackers in the monitoring of trucks with a view to checking products diversion and other unethical practices. Sanni, who is the Country Station Manager of Lufthansa, gave the advice at the Total Nigeria Plc Africa…
Global oil demand growth is expected to slow from 2025 as fuel efficiency improves and the use of electrified vehicles increases but is unlikely to peak in the next two decades, the International Energy Agency (IEA) said on Wednesday. The Paris-based IEA, which advises Western governments on energy policy, said in its annual World Energy…
Nigeria is producing 1.6 million – 1.7 million barrels per day (bpd) of crude oil, the chief operating officer of the Nigerian National Petroleum Corporation said on Wednesday, adding that the country would continue to comply with OPEC output cuts. “The last quota put us at 1.7 million bpd and we are committed to that…
**** Reiterates commitment to human capacity development From left Dr Charles Ngeribara, Advisor, CSR, Total E&P Nigeria Ltd; Eng Vincent Nnadi, Executive General Manager, CSR; Mr Azu Azuike, Manager, CSR Education being appreciated by Mr Ibitoye Alaba, Vice Principal, Toyon High School during the commissioning and handover of Science laboratory built and equipped for Toyon…
