Malaysia’s Petronas sees Domestic Oil, Gas Output Peaking by 2024 Malaysia’s state energy firm Petronas sees its domestic oil and gas production peaking at about 2 million barrels of oil equivalent per day (boepd) by 2024, its exploration executives said on Tuesday. About 60-70% of its production is natural gas and will remain so going…
EIA: Energy Trade between U.S. and Mexico Hits Record Levels The U.S. Energy Information Administration (EIA) has reported that energy trade in 2022 between the United States and Mexico totaled $81.9 billion in real prices, an all-time high. U.S. energy exports to Mexico in real prices totaled $55.8 billion in 2022, up from the previous…
Post-Brexit Tariffs and EV Chain Woes Threaten UK Carmakers Failure to bolster the supply chains for electric cars, coupled with looming post-Brexit tariffs, could cost the UK’s car industry over £100bn in growth, a leading industry group has warned. A potential 10-fold increase in the production of electric cars worth £106 billion is as it…
NLNG Empowers Journalists with Digital Communication Skills at #NLNGChangeYourStory Workshop Nigeria LNG Limited has successfully concluded the 2023 #NLNGChangeYourStory workshop for journalists, aimed at enhancing their digital communication and social media skills. The workshop, which spanned three days, brought together over 20 journalists from various editorial sections. The annual capacity-building workshop, sponsored by NLNG, also…
CISLAC Begins Engagement to curb $18Bn Nigeria’s Illicit Financial Flows The Civil Society Legislative Advocacy Centre (CISLAC) held two day Workshop and training for the media on engagement strategy aimed at entrenching transparency in Nigeria’s extractive industry. The ongoing engagement also seeks at plugging fraudulent conveyor channels through which the country loses over $18 billion…
Vibrant Black Market Collapses as Nigeria Scraps Fuel Subsidy Investigations have revealed that a vibrant fuel black market in Nigeria and its neighbouring countries have collapsed following the recent abolition of fuel subsidy in the country. The report by Reuters indicated that since Nigeria scrapped a state fuel subsidy on May 31, black market fuel…
Vitol CEO Says it is Difficult to Predict Oil Market Balance This Year The head of the world’s largest independent oil trader said on Monday that it has been difficult trying to predict market balances this year because of uncertainty with Russian supply and Chinese demand. The market is in slight oversupply with Russia beating…
Brazil’s Petrobras May Invest in Solar Power, Executive says The chief energy transition officer of Brazil’s Petrobras said on Thursday the state-run oil company may invest in solar power, buying assets or starting from scratch, as it looks to boost capital allocation in renewables. “Solar power is a mature activity that might yield returns in…
China’s Imports of Russian Crude Oil Hit a Record High China’s crude oil imports from Russia soared to an all-time high of 2.29 million barrels per day (bpd) in May as refiners in the world’s top crude oil importer continue to buy discounted Russian oil. China’s imports of Russian crude oil jumped by 15.3% compared…
YEAC Accuses Oil Operators of Sponsoring Crisis in Host Communities The Youths and Environmental Advocacy Centre, YEAC-Nigeria, has accused oil operators of sponsoring crisis in their host communities. By doing this, oil operators create chaos and thus create a distraction for the host communities thereby allowing the oil operators carry out their operations without fulfilling…
