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The Nigerian National Petroleum Corporation (NNPC ) has announced that natural gas production in the country increased by 6.19 per cent at 222.23 billion cubic feet in May 2021. The corporation disclosed this in its Monthly Financial and Operation Report (MFOR) for the month of May 2021 released in Abuja, on Monday. “In the gas…
September 20, 2021
President Muhammadu Buhari has ordered the incorporation of the Nigerian National Petroleum Company (NNPC) Limited. The president on Sunday also appointed members of the management board of the NNPC. This disclosure was made in a statement issued by Special Adviser to the President (Media and Publicity), Mr Femi Adesina. According to the statement, the president…
September 19, 2021
Africa's richest man, Aliko Dangote is reportedly in talks with some financial institutions to secure a loan facility to finance the giant oil refinery complex project in Lekki, Lagos. This is coming as the cost to complete the 650,000 barrel-per-day refinery shot up to $19 billion. The refinery facility in Nigeria’s commercial hub was expected…
September 16, 2021
Oil prices could hit $100 per barrel over the next six months if we have a colder-than-usual winter, which could be the most important driver of global energy markets in the coming months, Bank of America says. Oil Prices Could Climb Above $100 If winter temperatures in the northern hemisphere turn out to be below seasonal…
September 15, 2021
The OPEC+ alliance looks to keep oil prices in the range between $65 and $75 per barrel, and this is a comfortable price for consumers, Vagit Alekperov, president and CEO at Russia’s second-largest producer, Lukoil, told Russian newspaper Kommersant. Brent Crude prices have not fallen below $65 a barrel since April. The price of Brent briefly exceeded the $75 per barrel…
September 8, 2021
Oil prices fell on Tuesday morning as fears grew that Asian demand would not recover as quickly as originally expected. Supply disruptions from Hurricane Ida were not significant enough to counter this bearish news. Europe is struggling to contain a double whammy of high natural gas and electricity prices, just as it had been bouncing back…
September 8, 2021
The gateway to the oil-rich Delta region in Nigeria could soon find itself under a renewed lockdown to battle rising COVID cases, the governor of the Rivers State says. If Rivers State goes into lockdown, this could potentially impact the ability of the oil companies operating in the Delta region to move personnel to and…
September 7, 2021
Estimated price tag has more than doubled in eight years National petroleum company is buying 20% stake in the project A giant oil refinery complex being built in Nigeria by a company owned by Aliko Dangote, Africa’s richest person, will cost more than double the amount originally projected. “Our capex will almost go to $19…
September 4, 2021
Africa needs investments to the tune of $130 billion annually to become a net-zero continent by 2050, a report by Friends of the Earth has suggested. According to a report by the organization titled, "A Just Recovery Renewable Energy Plan for Africa," the money would come from "the global North" and will address the three…
September 2, 2021
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The Nigerian National Petroleum Corporation (NNPC ) has announced that natural gas production in the country increased by 6.19 per cent at 222.23 billion cubic feet in May 2021. The corporation disclosed this in its Monthly Financial and Operation Report (MFOR) for the month of May 2021 released in Abuja, on Monday. “In the gas…
September 20, 2021
President Muhammadu Buhari has ordered the incorporation of the Nigerian National Petroleum Company (NNPC) Limited. The president on Sunday also appointed members of the management board of the NNPC. This disclosure was made in a statement issued by Special Adviser to the President (Media and Publicity), Mr Femi Adesina. According to the statement, the president…
September 19, 2021
Africa's richest man, Aliko Dangote is reportedly in talks with some financial institutions to secure a loan facility to finance the giant oil refinery complex project in Lekki, Lagos. This is coming as the cost to complete the 650,000 barrel-per-day refinery shot up to $19 billion. The refinery facility in Nigeria’s commercial hub was expected…
September 16, 2021
Oil prices could hit $100 per barrel over the next six months if we have a colder-than-usual winter, which could be the most important driver of global energy markets in the coming months, Bank of America says. Oil Prices Could Climb Above $100 If winter temperatures in the northern hemisphere turn out to be below seasonal…
September 15, 2021
The OPEC+ alliance looks to keep oil prices in the range between $65 and $75 per barrel, and this is a comfortable price for consumers, Vagit Alekperov, president and CEO at Russia’s second-largest producer, Lukoil, told Russian newspaper Kommersant. Brent Crude prices have not fallen below $65 a barrel since April. The price of Brent briefly exceeded the $75 per barrel…
September 8, 2021
Oil prices fell on Tuesday morning as fears grew that Asian demand would not recover as quickly as originally expected. Supply disruptions from Hurricane Ida were not significant enough to counter this bearish news. Europe is struggling to contain a double whammy of high natural gas and electricity prices, just as it had been bouncing back…
September 8, 2021
The gateway to the oil-rich Delta region in Nigeria could soon find itself under a renewed lockdown to battle rising COVID cases, the governor of the Rivers State says. If Rivers State goes into lockdown, this could potentially impact the ability of the oil companies operating in the Delta region to move personnel to and…
September 7, 2021
Estimated price tag has more than doubled in eight years National petroleum company is buying 20% stake in the project A giant oil refinery complex being built in Nigeria by a company owned by Aliko Dangote, Africa’s richest person, will cost more than double the amount originally projected. “Our capex will almost go to $19…
September 4, 2021
Africa needs investments to the tune of $130 billion annually to become a net-zero continent by 2050, a report by Friends of the Earth has suggested. According to a report by the organization titled, "A Just Recovery Renewable Energy Plan for Africa," the money would come from "the global North" and will address the three…
September 2, 2021
