Category: Oil & Gas

By Energy Worth A major stride in the attainment of national energy sufficiency was achieved in Lagos on Monday with the commencement of technical framing workshop and subsequent project signing ceremony of the seven Critical Gas Development Projects (7CGDP) to deliver about 3.4 billion standard cubic feet of gas per day (bscfd) to bridge the…

By Nick Cunningham With around 2.5 million barrels per day (mb/d) of Iranian supply targeted by the Trump administration, how will the oil market cope with the losses? Is there enough supply capacity to make up for the shortfall? There is a great deal of debate about the true extent of the world’s spare capacity….

By Energy Worth Niger Delta stakeholders have warned that the menace of crude oil theft and artisanal refining will continue unabated in the region if the issue of resource control is not addressed. They decried the delay in commencement of the clean up of Ogoni environment almost seven years after the submission of the United…

By Energy Worth OrderPaper Advocacy Initiative has disclosed its plans to convene a colloquium on the Petroleum Host and Impacted Community Development Bill (PHICDB). The Programme Executive of the group, Mej John Obada, disclosed this in a statement. He said the meeting would discuss issues around ongoing legislative and policy reforms in the petroleum industry,…

By Nick Cunningham The oil industry might not be able to produce enough oil to meet global demand in a few years’ time. To be sure, much of the oil world is focused on the supply fears in the near-term. The outages in several OPEC nations, plus the tightening noose on Iran from the U.S….

Energy Worth with Agency Report The Dangote refinery plans to start selling petrol, diesel and aviation fuel by early 2020, but the fertiliser plant, will start producing urea this year, Edwin Devakumar, the group executive director told Bloomberg. The $10 billion refinery, set to be one of the world’s largest and which can process 650,000…

By Energy Worth The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has announced a profit after tax of N6.11bn for the Nigerian Gas Processing and Transportation Company (NGPTC), a subsidiary of the NNPC. He said the PAT was recorded in the NGPTC’s first year of operation under the new structure, which had…

By Nick Cunningham The U.S. government has continued its attempts to shut down Iran’s oil exports, and in recent days Iranian officials responded by threatening to block the Strait of Hormuz. Such an outcome is highly unlikely, but the war of words demonstrates how quickly the confrontation is escalating. Oil prices spiked in late June…

The Nigerian National Petroleum Corporation (NNPC) has vowed to remain globally competitive to ensure value addition to the nation’s hydrocarbon resources for the benefit of Nigerians and other stakeholders. NNPC Group Managing Director, Dr Maikanti Baru, disclosed this Thursday in Abuja while addressing the corporation’s staff via a mail broadcast to commemorate his two-year anniversary…

By Tsvetana Paraskova Oil prices dropped early on Friday as fears of the escalating U.S.-Chinese trade war and increased production by Saudi Arabia and Russia outweighed concerns over supply disruptions from Venezuela to Libya to looming sanctions on Iran. At 08:23 a.m. EDT today, WTI Crude was down 0.78 percent at $72.37, and Brent Crude…