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Environmental and climate justice groups across the country have urged Shell and other International Oil Companies (IOCs) operating in the Niger Delta to implement the full terms of Global Memorandum of Understanding (GMOU) agreed with communities and clean their oil pollution before selling off their equity holding in oil and gas assets in the region.…
April 16, 2022
European Union (EU) Ambassasdors in Nigeria have paid a courtesy call on the management of the Nigerian National Petroleum Company (NNPC). During the meeting the EU ambassasdors sought to strengthen their partnership with Nigeria in the energy sector as they pleaded for more gas supply to Europe. The New Diplomat reports that Europe’s call for…
April 12, 2022
...U.S. President Biden announced a ban on imports of Russian energy without the participation of European allies. ...The ban includes not only Russian oil, but also coal and liquefied natural gas. ...Russia warned on Monday that an energy embargo on Moscow would have “catastrophic consequences for the global market,”. The United States announced a ban…
March 9, 2022
...Western leaders have so far been reluctant to slap sanctions on Russian oil and gas exports. ...Oil buyers and refiners are already in a sort of ‘self-sanctioning’ mode. ...Analysts: Iranian barrels cannot replace the loss of Russian oil. The United States and the European Union have been reluctant to slap sanctions on Russia's oil and…
March 7, 2022
There are indications that the Nigerian government could spend more on the importation of fuel into the country as oil rose to nearly $100 a barrel on Tuesday, reaching its highest level since 2014, amid the ongoing tension over armed conflict between Russia and Ukraine alongside its Western allies. The New Diplomat reports oil prices…
February 23, 2022
Wednesday’s explosion of a Floating Production, Storage and Offloading Vessel called Trinity Spirit FPSO, in Ugborodo (Escravos) offshore location has caused stir across social media platforms in Nigeria as reports claim 10 crew members onboard the ill-fated facility have been lost to the massive explosion. The New Diplomat had earlier reported that Trinity Spirit FPSO…
February 3, 2022
...U.S. commercial petroleum stocks have fallen in most of the weeks in the past year and a half. ...The continuously declining U.S. petroleum stocks over the past year suggest that supply has not caught up with rebounding demand. ...Petroleum stocks at lower than seasonal norms have contributed to market tightness alongside the OPEC+ group’s inability…
January 25, 2022
Former President Olusegun Obasanjo has faulted the reaction of leader of the Pan Niger Delta Forum (PANDEF) and Chairman of the Board of Trustees, Ijaw National Congress (IJC), Chief Edwin Clark, insisting that oil found in the Niger Delta region belongs to Nigeria constitutionally as the fiery exchange between the two elder statesmen continued on…
December 28, 2021
The Nigerian National Petroleum Company (NNPC) Ltd. says the Petroleum Products Marketing Company (PPMC), its downstream subsidiary made a sum of ₦203.73 billion on the sale of white products in July 2021. This is contained in the July 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR), the 72nd edition of the Report…
December 23, 2021
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Environmental and climate justice groups across the country have urged Shell and other International Oil Companies (IOCs) operating in the Niger Delta to implement the full terms of Global Memorandum of Understanding (GMOU) agreed with communities and clean their oil pollution before selling off their equity holding in oil and gas assets in the region.…
April 16, 2022
European Union (EU) Ambassasdors in Nigeria have paid a courtesy call on the management of the Nigerian National Petroleum Company (NNPC). During the meeting the EU ambassasdors sought to strengthen their partnership with Nigeria in the energy sector as they pleaded for more gas supply to Europe. The New Diplomat reports that Europe’s call for…
April 12, 2022
...U.S. President Biden announced a ban on imports of Russian energy without the participation of European allies. ...The ban includes not only Russian oil, but also coal and liquefied natural gas. ...Russia warned on Monday that an energy embargo on Moscow would have “catastrophic consequences for the global market,”. The United States announced a ban…
March 9, 2022
...Western leaders have so far been reluctant to slap sanctions on Russian oil and gas exports. ...Oil buyers and refiners are already in a sort of ‘self-sanctioning’ mode. ...Analysts: Iranian barrels cannot replace the loss of Russian oil. The United States and the European Union have been reluctant to slap sanctions on Russia's oil and…
March 7, 2022
There are indications that the Nigerian government could spend more on the importation of fuel into the country as oil rose to nearly $100 a barrel on Tuesday, reaching its highest level since 2014, amid the ongoing tension over armed conflict between Russia and Ukraine alongside its Western allies. The New Diplomat reports oil prices…
February 23, 2022
Wednesday’s explosion of a Floating Production, Storage and Offloading Vessel called Trinity Spirit FPSO, in Ugborodo (Escravos) offshore location has caused stir across social media platforms in Nigeria as reports claim 10 crew members onboard the ill-fated facility have been lost to the massive explosion. The New Diplomat had earlier reported that Trinity Spirit FPSO…
February 3, 2022
...U.S. commercial petroleum stocks have fallen in most of the weeks in the past year and a half. ...The continuously declining U.S. petroleum stocks over the past year suggest that supply has not caught up with rebounding demand. ...Petroleum stocks at lower than seasonal norms have contributed to market tightness alongside the OPEC+ group’s inability…
January 25, 2022
Former President Olusegun Obasanjo has faulted the reaction of leader of the Pan Niger Delta Forum (PANDEF) and Chairman of the Board of Trustees, Ijaw National Congress (IJC), Chief Edwin Clark, insisting that oil found in the Niger Delta region belongs to Nigeria constitutionally as the fiery exchange between the two elder statesmen continued on…
December 28, 2021
The Nigerian National Petroleum Company (NNPC) Ltd. says the Petroleum Products Marketing Company (PPMC), its downstream subsidiary made a sum of ₦203.73 billion on the sale of white products in July 2021. This is contained in the July 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR), the 72nd edition of the Report…
December 23, 2021
