Category: Oil & Gas

By Nixar Manek A self-declared republic in Somalia asked Ethiopia to reroute its nascent oil and gas exports via a proposed new pipeline, challenging Djibouti’s long-held plans for a conduit. The overture from Somaliland comes as Ethiopia begins exploiting an estimated 8 Tcf of natural gas and test-drilling for oil in its restive east. It’s…

By Martin Tillier Out of context, it seems slightly ridiculous, but many trading decisions come down to what I refer to as the “magic number” theory. Whether said number is derived from a complex calculation or simple observation, the fact is that a lot of trades are based on the belief that proximity to a…

By Irina Slav  Global crude oil supply might need some cuts, Saudi Arabia’s Energy Minister Khalid al-Falih told state TV channel al-Ekhbariya as quoted by Reuters, to offset recent increases. “We (have) entered the stage of worrying about this increase,” the official said, adding any reduction in supply would go towards ensuring the stability accomplished…

By Tsvetana Paraskova  China will lead global refinery capacity expansion and investments with 3.12 million bpd additional refining capacity and US$67.3 billion capital expenditure through 2022, data and analytics company GlobalData said in a new report. Total refining capacity in the world is expected to grow by 15.1 percent between 2018 and 2022, with global…

By Oke Peter Spokesperson for Muhammadu Buhari Campaign Organisation, Mr Festus Keyamo, SAN, has denied collecting money from Nigerian National Petroleum Corporation, NNPC, to run the publicity department of the organisation. Keyamo, who is also the campaign organisation’s Director of Strategic Communications, said on Thursday, in Lagos that the organisation would not depend on public…

By Jon LeSage  Tech giants like Apple and Waymo, along with carmakers such as General Motors and Tesla, are counting on autonomous vehicles becoming the norm in auto manufacturing and mobility services. But how long will it really take to reach public acceptance and mass adoption? These four companies, along with Daimler, Didi Chuxing, Ford,…

Crude oil is one of the best commodities to trade. It is a very active market and it is well known with investors around the world. There is usually no shortage of news to cause the price of oil to move from day to day. This presents many good trading opportunities, whether you focus on…

By Oke Peter An oil company based in Nigeria, NIPCO, says it has converted about engines of 5,600 vehicles using petrol to Compressed Natural Gas (CNG) as it is cost effective. The Managing Director of NIPCO, Mr Sanjay Teotia,  said this in a statement issued by the Manager, Corporate Communications, NIPCO, Mr Taofeek Lawal, on…

Guinea-Bissau is eager to kick start exploration in acreage shared with oil-rich Senegal, but it’s slow going. Paul Melley writes Guinea-Bissau and Senegal made good early progress in talks to revise the agreement sharing out potential oil and gas revenue from their joint offshore exploration zone. But with both governments under domestic pressure, a scheduled…

The Nigerian National Petroleum Corporation (NNPC) has assured motorists and other consumers of availability of petroleum products during the festive period. Group Managing Director, Dr. Maikanti Baru, in a statement on  Wednesday said that the NNPC has 37 days fuel sufficiency of which strategies had been put in place to ensure that Nigerians experience a…