Category: Oil & Gas

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…

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…