Category: Oil & Gas
We’ll encourage gas to power initiatives, support SMEs and job creation through our gas commercialisation —SEPLAT Chairman Orjiako
The Chairman, Seplat Petroleum Development Company Plc, Dr. ABC Orjiako, recently spoke to journalists on the performance of the company, the oil and gas industry and other issues. Energy Worth Online brings the excerpts The year 2019 was an interesting year and 2020 has been characterised by so much uncertainties, what factors will drive the…
Court stops FG from auctioning 11 abandoned oilfields
The companies whose licenses were revoked appealed the decision of the Nigerian Department of Petroleum Resources and the federal high court granted this week an injunction, preventing the government from auctioning off the 11 oilfields “pending the determination of the substantive suit.
Chinese oil imports to rise in 2020 despite Coronavirus
China’s apparent crude oil consumption is expected to increase by between 1 percent and 2 percent year on year, CNPC Research says, as carried by Reuters.
PetroNor makes progress in Senegal
PetroNor, has announced that the Company has reached a mutual agreement with the Government of Senegal to suspend the Arbitration related to the Rufisque Offshore
Oil price crash leads to large drop in United States fixed investment
The drastic spending cuts across the U.S. shale patch due to the low oil prices will likely lead to a 6.1-percentage point slump in total U.S. fixed business investment.
Why FG won’t allow marketers to determine price of petrol —Sylva …Says deregulation of downstream sector approved since March
Chief Timipre Marlin Sylva, on Thursday, explained that the need to protect the generality of the public from undue exploitation and prevent inordinate profiteering by oil marketers
Covid-19: Nigeria’s oil, gas exports to fall by $26.5bn —IMF •Oil price rises to $25
In a detailed report regarding the request, released late on Wednesday, the Washington-based fund warned that Nigeria remained exposed to rising risks, particularly in oil markets.
Nigeria’s economy after oil: How should we prepare?
By Bode Agusto Crude oil is one of the principal sources of energy to the World. In 2018, its market share was 34%, other principal sources of energy were Coal and Natural gas with market shares of 27% and 24% respectively. What does crude oil do for the World?It helps us to transport our vehicles,…
How Nigeria can leverage on negative oil prices
By Ijeoma Nwogwugwu With the price of a barrel of West Texas Intermediate (WTI), the benchmark for US crude oil, sinking into negative territory on Monday for May deliveries, and the price of Brent Crude – the benchmark used by Europe and the rest of the world – down by 25% to $19 yesterday, it…
The surprising winners and losers of the global oil glut
By Tsvetana Paraskova Despite the historic OPEC+ production cut deal, available oil storage capacity around the world is running thin as global oil demand continues to crumble amid lockdowns and travel restrictions in many countries. OPEC and its Russia-led allies promised to remove 9.7 million bpd from the market starting in May. But oil storage…