Category: Oil & Gas

By Julianne Geiger Tullow’s TEN oilfield will reach full capacity in 2020, according to Tullow’s external affairs director Cynthia Lumor, cited by Reuters. Tullow’s current capacity in TEN (Tweneboa, Enyenra, and Ntomme) is 56,000 barrels per day. It’s peak production of 80,000 will be reached in roughly two years, Lumor said. Tulllow’s TEN development had…

Energy Worth with Agency Report Oil and gas businesses operating in the downstream retail segment of the industry risk demise if the needed attention is not paid to market data management, according to Energy360 Africa Limited. The company stressed that proper market data management will not only help to boost the returns and growth of…

By Tom Kool Crude oil fell slightly on Tuesday despite news from Saudi Arabia and Iran which should have put upward pressure on prices. Oil prices rebounded in early trading on Tuesday before falling in the afternoon as economic uncertainty stemming from Turkey’s currency crisis dampened bullishness. Saudi Arabia’s oil production reduction in July and…

By Nick Cunningham  Just as the U.S. shale patch is starting to look a little crowded, deepwater drilling could see a comeback. Royal Dutch Shell says that offshore drilling is now more competitive than onshore shale drilling, upending what has become conventional wisdom since the 2014 oil market meltdown. The downturn was thought to place…

By Energy Worth The Nigerian National Petroleum Corporation (NNPC) on Tuesday, announced plans to establish a 100,000-barrels-per-day brownfield refinery each in Port Harcourt, Rivers State and in Warri, Delta State. It said the plan was part of its refinery collocation initiative designed to boost local refining capacity to end the era of petroleum products importation,…

As part of efforts to bridge the projected medium-term gas supply gap expected by 2020, the Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC) have signed five agreements to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020. The project,…

By David Messler  The last quarter has seen increased volatility in oil prices, an increase that I attribute to the growing tensions in international markets as fears of a global trade war intensify. The headlines seem to get starker by the day, and markets loathe this type of uncertainty. The intent of this article is…

Energy Worth with Agency Report Crude production from the Organisation of Petroleum Exporting Countries (OPEC) rose in July on the back of increased output recorded by Nigeria, Kuwait and the United Arab Emirates, the latest report obtained on Monday showed OPEC’s output averaged 32.32 million barrels per day in July, up 41,000bpd from June, the…

Energy Worth with Agency Report Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday. The “informed source” in Iran’s oil ministry did not give details of the discount, but sought to downplay the move as common…

By Nick Cunningham The oil market has experienced a “cooling down” this summer as global supply disruptions have eased at a time when demand has also slowed a bit, according to a new report from the International Energy Agency (IEA). But that pause may only be temporary, with the road getting much rockier towards the…