By Cyril Widdershoven The political power struggle in Venezuela is heating up, and there seems to be no real solution on the horizon yet. The surprise move by Venezuela’s opposition leader Juan Guaido to declare himself interim president on Wednesday has backed the country’s president Nicolas Maduro into a corner. The outcome of this power…
By Oke Peter The ongoing investment in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector, the President/Chief Executive, Aliko Dangote has said. Dangote, who made this disclosure yesterday, at the ongoing Nigeria International Petroleum Summit (NIPS), in Abuja, said…
Despite recent assurance by the Federal Government that there were no irregularities in the ongoing renewal of over 42 oil licences, stakeholders in the oil and gas sector, yesterday, raised the alarm over the ongoing exercise. Even though the Petroleum Act of 1969, as well as the Petroleum (Drilling & Production) Regulation of 1969 (as…
A suspected vandal, Saifullahi Sa’idu, of the Kadangaru Quarters, Dutsin-ma Local Government Area of Katsina State, is now in police custody after suffering serious burns while allegedly attempting to steal cables from a power transformer in Dutsin-ma town. According to The Punch, Sa’idu was initially admitted to the General Hospital, Dutsin-ma before he was arrested…
By Sean Fleming At a site in the Western Desert, some 650 kilometre south of Cairo, one of the world’s largest and most ambitious solar energy projects is underway. The Benban Solar Park will produce enough electricity to power one million homes. But more than that, it is part of a whole new strategy for…
By Irina Slav Saudi Aramco, in partnership with United States Air Products and Chemicals, will build the first hydrogen fuel cell station in the Kingdom, leveraging Air Products’ SmartFuel hydrogen fueling technology, Reuters reports, citing a joint statement. The station, to start operating in the second half of this year, will fuel a fleet of…
By Prajakta Khandagale The hybrid power solutions market is forecast to register its name in the billion-dollar fraternity down the line of six years, by exceeding a revenue of $55 billion by 2024 with a projected CAGR of 18.5 per cent over 2018-2024. This is according to a recent industry report put forward by Global…
Oke Peter with Agency Report The Department of Petroleum Resources and the Ministry of Petroleum Resources have said there are no irregularities in the ongoing renewal of oil and gas leases. A News Agency of Nigeria’s (NAN) report, on Thursday, quoted the House of Representatives as saying it would investigate the Minister of State for…
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics – climate change and pressure from investors. The conclusion of the discussions was worrying for those present – pressure is rising and the industry is…
By Nick Cunningham The oil market is heading towards rebalancing this year, most analysts seem to think, with OPEC+ production cuts, combined with a potential slowdown in U.S. shale eating away at the surplus. However, the “rebalancing” all hinges on the steady demand growth projections that most analysts have at the heart of their forecasts….
