The price of Organisation of Petroleum Exporting Countries (OPEC) basket of fourteen crudes stood at $58.27 a barrel on Monday, compared with $57.55 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon),…
By Oke Peter In its avowed commitment to ensure unimpeded supply of petroleum products and safeguard the environment through reduction of carbon emission, the Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) with the Ondo State Government to establish a 65,000 million litres per annum biofuel plant in Okeluse, Ondo State….
ExxonMobil and Renewable Energy Group (REG) has announced on Wednesday that by utilising REG’s patented fermentation technology, the companies’ joint research program has demonstrated the ability to convert sugars from a variety of non-edible biomass sources into biodiesel. According to the vice president, Research and Development, ExxonMobil Research and Engineering Company, Vijay Swarup, he said: “Our…
