Category: Oil & Gas

By Robert Rapier You probably have noticed that gasoline prices are again on the rise. Predictably, I have already seen stories arguing about President Trump’s culpability in this current price rise. It never fails that when gasoline prices decline, a President and his allies are quick to take credit. And when prices rise, the opposition…

“Financing oil and gas in a cyclical industry means that a long term view on the underlying growth prospects of the recipient or project is necessary. Risk mitigation is about understanding the bankability of the project as much as it is about appetite”, stated Rolake Akinkugbe-Filani, Head of Energy and Natural Resources at FBNQuest Merchant…

By Energy Worth The Federal Government and the Kingdom of Morocco on Monday in Rabat, Morocco, signed three agreements as part of activities marking President Muhammadu Buhari’s two-day visit to the country. According to a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, the agreements included that of…

By Nick Cunningham The upcoming OPEC meeting on June 22 is shaping up to be a contentious one, after news broke that the U.S. government asked Saudi Arabia to increase oil production before Washington pulled out of the Iran nuclear deal. Earlier last week, news surfaced that the U.S. government asked Saudi Arabia to boost…

By Tsvetana Paraskova Oil market analysts are looking into the global supply and demand picture to guess where the price of oil is heading, and opinions and forecasts always vary widely. While oil bulls are focusing on the loss of supply from Venezuela and a potential reduction of Iranian exports to justify their view that…

By Energy Worth About $51 billion worth of investment opportunities currently exists in Nigeria’s gas sector. This investment could be spread to Free Trade Zones (FTZ), central gas processing facilities, fertilizer plants, gas exploration & production, pipe milling & local fabrication yards.Other available investment areas are virtual pipelines, gas transmission, and power plant projects, flare…

By Energy Worth The National Assembly is set to transmit the final harmonised copy of the Petroleum Industry Governance Bill (PIGB) to President Muhammadu Buhari for assent.This followed the adoption of the report of the Conference Committee of PIGB at Senate plenary, three months after the upper legislative chamber initially adopted the report. The initial…

By Nick Cunningham Venezuela might have to declare force majeure on its oil exports as production plunges and its ports are unable to ship enough crude. The ongoing meltdown in Venezuela’s oil sector could tighten the oil market more than expected. Reuters reported Tuesday that Venezuela is considering declaring force majeure, a legal declaration made…

By Nick Cunningham The Trump administration has sent a request to Saudi Arabia for it and the rest of OPEC to boost oil production by 1 million barrels per day (mb/d), according to a Bloomberg report. It wasn’t the first time that the U.S. has asked Saudi Arabia to ratchet up supply in an effort…

By Energy Worth The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has said that the oil firm cannot provide the information being sought by a human rights lawyer, Femi Falana (SAN), on fuel importation and sundry matters. Baru, through an external solicitor, Mr. O. B. Omale of Omale O. B. & Co.,…