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Determined to boost Nigeria’s liquefied natural gas output by more than 30%, the Nigeria Liquefied Natural Gas (LNG) has signed the engineering, procurement and construction (EPC) contract for Train 7, its major gas expansion plan. The announcement was made by Minister of State for Petroleum Resources, Timipre Sylva, on Wednesday, May 13, 2020, during the…
May 14, 2020
There seems to be a glimmer of hope for unsold cargoes of crude in the global market as India’s International Oil Companies, IOCs issued a new buy tender for West African Crude. The newly issued buy tender for the West African crude that will be loading between June 9-18, 2020 will close on May 13.…
May 13, 2020
Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures were down 29 cents, or 0.9 per cent at $30.68 a barrel by 0431 GMT, while U.S. West…
May 11, 2020
In a shocking projection, Goldman Sachs has predicted that by end of this month, there is the likelihood of Oil demand surpassing supply, thereby triggering some measurable likely rebound in the Oil market. Head of Goldman Sachs commodities department, Jeffrey Currie in an exclusive analytical projection published in the current edition of Oilprice, quoting Baron’s…
May 10, 2020
84 Million Nigerian Cargoes Stranded At Sea India, Nigeria's Largest Buyer Slashes Oil Imports Experts Ask Nigeria To Bolster Non-Oil Exports International buyers continue to balk at the country's dominant exports, crude as the United States slashed the importation of Nigerian crude oil by 60.37 per cent to 1.93 million barrels in January 2020. Pre-Covid-19,…
May 9, 2020
Nigeria Targets Cost Reflective Tariff By 2021 Ahead of the July 1st, 2020 when a new electricity tariff will come into effect, a critical stakeholder in the sector, Oti Ikomi, Chief Executive Officer, CEO, and Executive Vice-Chairman Proton Energy has assured Nigerians of a more stable and improved power supply. Ikomi while speaking on a…
May 9, 2020
By Hamilton Nwosa(Head, The New Diplomat Business Desk) As the Federal government aims to clamber, in phases out of the pandemic, and focus on key concentric circles, experts say it would take a slow challenging process with mainly companies and organizations that are already technically prepared with next-generation capabilities remaining not only competitive but also most…
May 3, 2020
The nation was thrown into darkness in the early hours of Wednesday after power generation dropped to 2,900 megawatts as Nigeria's perennial menace of power outage continues unabatedly. The occasional system collapse leading to grim darkness further compounds Nigerians' woes who are struggling to get by everyday amid the Covid-19 lockdown. For many, it means…
April 29, 2020
The oil price crash isn’t getting any easier for Nigeria Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures reflect an urgent need to offload cargoes in what is a highly competitive marketplace. Even so, traders cautioned that the prices $10 a barrel…
April 29, 2020
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Determined to boost Nigeria’s liquefied natural gas output by more than 30%, the Nigeria Liquefied Natural Gas (LNG) has signed the engineering, procurement and construction (EPC) contract for Train 7, its major gas expansion plan. The announcement was made by Minister of State for Petroleum Resources, Timipre Sylva, on Wednesday, May 13, 2020, during the…
May 14, 2020
There seems to be a glimmer of hope for unsold cargoes of crude in the global market as India’s International Oil Companies, IOCs issued a new buy tender for West African Crude. The newly issued buy tender for the West African crude that will be loading between June 9-18, 2020 will close on May 13.…
May 13, 2020
Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures were down 29 cents, or 0.9 per cent at $30.68 a barrel by 0431 GMT, while U.S. West…
May 11, 2020
In a shocking projection, Goldman Sachs has predicted that by end of this month, there is the likelihood of Oil demand surpassing supply, thereby triggering some measurable likely rebound in the Oil market. Head of Goldman Sachs commodities department, Jeffrey Currie in an exclusive analytical projection published in the current edition of Oilprice, quoting Baron’s…
May 10, 2020
84 Million Nigerian Cargoes Stranded At Sea India, Nigeria's Largest Buyer Slashes Oil Imports Experts Ask Nigeria To Bolster Non-Oil Exports International buyers continue to balk at the country's dominant exports, crude as the United States slashed the importation of Nigerian crude oil by 60.37 per cent to 1.93 million barrels in January 2020. Pre-Covid-19,…
May 9, 2020
Nigeria Targets Cost Reflective Tariff By 2021 Ahead of the July 1st, 2020 when a new electricity tariff will come into effect, a critical stakeholder in the sector, Oti Ikomi, Chief Executive Officer, CEO, and Executive Vice-Chairman Proton Energy has assured Nigerians of a more stable and improved power supply. Ikomi while speaking on a…
May 9, 2020
By Hamilton Nwosa(Head, The New Diplomat Business Desk) As the Federal government aims to clamber, in phases out of the pandemic, and focus on key concentric circles, experts say it would take a slow challenging process with mainly companies and organizations that are already technically prepared with next-generation capabilities remaining not only competitive but also most…
May 3, 2020
The nation was thrown into darkness in the early hours of Wednesday after power generation dropped to 2,900 megawatts as Nigeria's perennial menace of power outage continues unabatedly. The occasional system collapse leading to grim darkness further compounds Nigerians' woes who are struggling to get by everyday amid the Covid-19 lockdown. For many, it means…
April 29, 2020
The oil price crash isn’t getting any easier for Nigeria Late on Monday, the nation released the prices for most of its crude oil grades for sale in May. The figures reflect an urgent need to offload cargoes in what is a highly competitive marketplace. Even so, traders cautioned that the prices $10 a barrel…
April 29, 2020
