Category: Oil & Gas

By Irina Slav  French supermajor Total will increase Nigeria’s oil production by 200,000 bpd by the end of the year, a senior official from the local unit of the company said at an industry event, adding the increase will come from the development of the Egina Deep project. “Our plan is to maintain aggressive exploration…

By Julianne Geiger  Citing $1 trillion in planned investments lost since the market downturn began, Aramco’s chairman of the board of directors Khalid Al-Falih issued a battle cry to the world’s other oil producers in its latest report, Saudi Aramco Annual Review 2017. The message: mature oil fields are seeing an increase in declining production…

By Energy Worth Findings have shown that International oil companies and other operators are expected to spend a total of $40.7bn on the development of planned projects and $117.1bn on key announced projects in Nigeria and other sub-Saharan African countries between 2018 and 2025. GlobalData, a global data and analytics company, said in a new…

Energy Worth with Agency Report Oil prices dipped on Friday, with US crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products as inventories build. The News Agency of Nigeria (NAN) has reported. Brent is heading for a two per cent decline this…

By Tsvetana Paraskova Despite an expected slowdown in Permian growth rates, the U.S. shale patch is increasing production and will continue to do so this year and next. Oil market investors and analysts are currently very much focused on the demand side, with concerns over the potential of trade wars to curb oil demand growth….

By Energy Worth The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, said on Thursday that the split of the corporation into two entities if not properly communicated to the workers could generate some tension between the unions. Baru noted the Petroleum Industry Governance Bill, recently passed by the National…

By Energy Worth Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru in Dubai, United Arab Emirate directed the Chinese Consortium and the NNPC Project Team on the Ajaokuta-Kaduna-Kano (AKK) Pipeline Project to ensure timely finalization of the term sheet for the project’s contractor financing agreement. The Chinese consortium is made…

The Nigerian National Petroleum Corporation (NNPC) on Wednesday, emphasized the availability of enough gas for power generation noting that the recent drop in electricity generation was as a result of some factors outside its control. The NNPC stated that as critical partners in the electricity generation matrix, it is willing to work with other stakeholder…

By Vanand Meliksetian  President Donald Trump’s first year in office must have been a pleasant surprise for Chinese President Xi Jinping. A successful state visit in Beijing and an apparent personal chemistry between the two leaders suggested a close relationship between the countries was brewing. But President Trump’s second year has turned that narrative on…

Energy Worth with Agency Report Oil prices fell on Wednesday, weighed down by a gloomier global economic outlook and a report of rising United States’ crude inventories, even as the US sanctions on Tehran threatened to curb Iranian crude oil supplies. Global benchmark Brent crude oil fell by $0.50 to $71.96 per barrel by 8.30am…