The delay in the award of new oil blocks and uncertainties over existing marginal oilfields are upsetting industry players, amid a warning that the country’s economic development could be jeopardised. Nigeria is projected to witness a shortage of crude oil, as new refineries may have to compete with the sale of the product at the…
By Tsvetana Paraskova Despite reduced costs and efficiency improvements, the UK oil and gas industry could lose its significance as a key contributor to the UK economy and energy supply, due to record low drilling activity and lack of new project approvals, Oil & Gas UK, the main representative body for the UK’s offshore industry,…
By Energy Worth The management of the Nigerian Ports Authority (NPA) has denied any wrong doing in the bid process leading to award of the dredging of the Warri Port Channel to favour any bidder. Reacting to the allegation of process fraud brought against it by one of the project bidders, Dredging Atlantic Limited, the…
By Nick Cunningham Oil demand could peak as soon as five years from now. Predicting the point at which the world reaches peak oil demand has become something of a cottage industry. The estimates range, but tend to fall somewhere around 2030 or later. However, two new predictions – just out this week – put…
