Category: Oil & Gas

By Energy Worth The management of Total Nigeria Plc. says it has opened 100 new outlets nationwide in the last couple of years to serve customers better in line with its mission to give its clients the very best of service delivery. The Managing Director, Mr. Phillipe Torres, who spoke at the weekend to round…

ExxonMobil plans to more than double earnings potential by 2025 while addressing the risks of climate change through continued research into breakthrough lower-carbon technologies, Chairman and Chief Executive Officer Darren Woods told shareholders during the company’s annual meeting today. Meeting the world’s growing energy needs will require trillions of dollars in new investment across industry,…

By Julianne Geiger  With Brent Crude falling from its $80 height of last week, the American Petroleum Institute (API) reported a build of 1.001 million barrels of United States crude oil inventories for the week ending May 25, compared to analyst expectations that this week would see a build in crude oil inventories of 2.214…

By Irina Slav A natural harbor to the northwest of Cape Town keeps a secret that oil tracking professionals are still trying to uncover. The secret is exactly how much oil is in storage at any given moment at the Saldanha Bay array of tanks that can hold up to 45 million barrels. The reason…

By Energy Worth The international oil benchmark, Brent crude, on Tuesday continued its biggest losing streak since February, falling below $75 per barrel. The downturn in oil prices came on the heels of worries that Saudi Arabia and Russia could pump more crude to compensate for a potential supply shortfall, with hedge funds reducing bullish…

By Tsvetana Paraskova Following disruptions of the oil flows on the pipeline feeding the Forcados terminal in Nigeria, the facility faces more than two weeks of delays of oil cargo loadings, and no official June or July loading schedules have been released yet, trading sources told Platts on Tuesday. The flow of crude oil to…

By Energy Worth The Nigerian National Petroleum Corporation (NNPC) has said that it is working on the right strategies to remain in business for a long time. The Group Managing Director of the corporation, Maikanti Baru, who spoke at the NNPC first quarter 2018 top management steering committee meeting in Abuja at the weekend, said…

Thirty five ships conveying petroleum products, food and other goods are expected to arrive at Apapa and Tin Can Island Ports, from Monday to June 16, says the Nigerian Ports Authority (NPA). The News Agency of Nigeria (NAN) reports that not less than seven of the 35 ships will sail in with petrol. The remaining…

Energy Worth with Agency Report Oil prices extended their decline from last week on growing expectations that major oil producers may ease their 17-month-old production cuts. A return to the oil production levels that were in place in October 2016, the baseline for the current deal to cut output, is one of the options for…

Energy Worth with Agency Report A former Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Temisan Omatseye, has said that Nigeria is losing about $300 million yearly for berthing five degrees East on Nigerian waters. Omotseye said this at the 3rd Annual Conference tagged: “A Day with Nigeria Maritime Students 2018’’ organised by Platforms…