Category: Business News

America’s trade imbalance just got a bit smaller. The U.S. has now become a net exporter of natural gas on an annual basis for the first time since at least 1957. Net exports averaged about 0.4 Bcfd last year, flipping from net inflows of 1.8 billion in 2016, according to Victoria Zaretskaya, a Washington-based analyst…

Crude oil prices hit new multi-year highs yesterday as production cuts led by the Organisation of Petroleum Exporting Countries (OPEC) and healthy demand helped to balance the market, but analysts warned of possible overheating.uters reported that a broad, global market rally, including stocks, has also been fuelling investment in crude oil futures.U.S. West Texas Intermediate…

A key OPEC minister has warned that the group risks overheating the oil market as crude prices head toward $70/bbl.“Members of the Organization of Petroleum Exporting Countries are not keen on increased Brent crude prices above $60/bbl because of shale oil,” Iran Oil Minister Bijan Namdar Zanganeh said, according to the ministry’s news service Shana….

The Board of Directors of Total met on December 12, 2017, and declared a 2017 second interim dividend of €0.62 per share and offered, under the conditions set by the fourth resolution at the Combined Shareholders’ Meeting of May 26, 2017, the option for shareholders to receive the 2017 second interim dividend in cash or…

By Energy Worth The Sokoto State Government has awarded contract for the construction of 250 solar- powered water schemes to be sited in rural areas across the 23 local government areas of the state. In a statement by the state governor’s spokesperson, Malam Imam Imam, in Sokoto on Sunday, the project is part of government’s policy of opening up…

Viathan Group, a private company, has issued a $32 million infrastructure bond to fund power assets — the first of its kind in Nigeria. The bond, which is worth N9.8bn when converted at the Central Bank of Nigeria (CBN) official rate N305.65 to a dollar, is offered at an interest rate of 16 percent. Viathan is owned by Synergy Private…

Exxon Mobil Corporation has announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015.The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels.ExxonMobil affiliate Esso Exploration and Production Guyana Ltd. began…