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Time To Blink In COVID-Infected Oil Price War By Editorial Dept As the oil price war continues, with the Saudis holding out and flooding the market with oil, the next logical stage is full-beyond-capacity storage facilities. It’s a situation that has some worried we could see oil drop below $10 a barrel. Last week, we…
March 20, 2020
Dwindling Oil Exports Deplete Foreign Reserves As Buhari, Emiefele Mull Naira Devaluation The coronavirus pandemic which has led to global oil glut is already depressing the Nigerian economy as the United Arab Emirates, OPEC’s third biggest producer on Wednesday compounded the nation's woes after it joined the oil price war, started by Saudi Arabia. UAE’s…
March 11, 2020
With Agency Report--The continuous export of the Coronavirus from China to other nations has had devastating consequences on the Nigerian economy and around the world. This is as the price of Bonny Light, Nigeria’s premium oil grade further dropped from $46.33 to $37.22 per barrel, in the international market, Tuesday. For Nigeria, the ramifications of…
March 10, 2020
Experts are calling dramatically lower crude prices as major OPEC and non-OPEC producers prepare for an all-out price war, in a sudden U-turn from previous attempts to support the oil market as the new coronavirus hammers global demand. ″$20 oil in 2020 is coming,” Ali Khedery, formerly Exxon’s senior Middle East advisor and now CEO…
March 8, 2020
The Minister of State for Petroleum Resources, Chief Timipre Slyva, said that about one billion Barrels of Crude oil have been discovered in Northeastern part of Nigeria. Sylva made the disclosure at a news Conference to end the 2020 Nigeria International Petroleum Summit (NIPS), in Abuja on Wednesday. He said: “The figure we are getting,…
February 12, 2020
The Federal Government and United State Trade and Development Agency have signed a 1.1million dollar grant to support electricity infrastructure development in Nigeria. The agreement was signed at the ongoing Nigeria International Petroleum Summit in Abuja, on Tuesday. The theme of the summit is :Widening the integration Circle :Technology, Knowledge, Sustainability Partnership. Mr Thomas Hardy,…
February 11, 2020
The Nigerian National Petroleum Corporation (NNPC) said that the daily average natural gas supply to gas-powered plants in November 2019 increased by 16.53 per cent to 645 mmscfd. The Corporation disclosed this in its Monthly Financial and Operations Reports (MFOR) released in Abuja, on Sunday. The increment, it said was equivalent to power generation of…
February 10, 2020
By Hamilton Nwosa (Head, The New Diplomat’s Business Desk) Following recent collapse of the national grid leading to blackouts across the country, the need to boost technical capabilities that would enhance grid stability has been canvassed. In this regard, industry operators maintain that the deployment of technical capabilities as well as the expertise of various…
January 22, 2020
By Hamilton Nwosa ( Head, The New Diplomat’s Business Desk) The Group Managing Director, Nigeria National Petroleum Corporation (NNPC) Mr. Mele Kyari has commended Lee Engineering and Construction Company for the progressive execution of the Atlas Cove Depot Optimization Project. The Atlas Cove Depot Optimization Project include the construction of three giant storage tanks with…
January 20, 2020
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Time To Blink In COVID-Infected Oil Price War By Editorial Dept As the oil price war continues, with the Saudis holding out and flooding the market with oil, the next logical stage is full-beyond-capacity storage facilities. It’s a situation that has some worried we could see oil drop below $10 a barrel. Last week, we…
March 20, 2020
Dwindling Oil Exports Deplete Foreign Reserves As Buhari, Emiefele Mull Naira Devaluation The coronavirus pandemic which has led to global oil glut is already depressing the Nigerian economy as the United Arab Emirates, OPEC’s third biggest producer on Wednesday compounded the nation's woes after it joined the oil price war, started by Saudi Arabia. UAE’s…
March 11, 2020
With Agency Report--The continuous export of the Coronavirus from China to other nations has had devastating consequences on the Nigerian economy and around the world. This is as the price of Bonny Light, Nigeria’s premium oil grade further dropped from $46.33 to $37.22 per barrel, in the international market, Tuesday. For Nigeria, the ramifications of…
March 10, 2020
Experts are calling dramatically lower crude prices as major OPEC and non-OPEC producers prepare for an all-out price war, in a sudden U-turn from previous attempts to support the oil market as the new coronavirus hammers global demand. ″$20 oil in 2020 is coming,” Ali Khedery, formerly Exxon’s senior Middle East advisor and now CEO…
March 8, 2020
The Minister of State for Petroleum Resources, Chief Timipre Slyva, said that about one billion Barrels of Crude oil have been discovered in Northeastern part of Nigeria. Sylva made the disclosure at a news Conference to end the 2020 Nigeria International Petroleum Summit (NIPS), in Abuja on Wednesday. He said: “The figure we are getting,…
February 12, 2020
The Federal Government and United State Trade and Development Agency have signed a 1.1million dollar grant to support electricity infrastructure development in Nigeria. The agreement was signed at the ongoing Nigeria International Petroleum Summit in Abuja, on Tuesday. The theme of the summit is :Widening the integration Circle :Technology, Knowledge, Sustainability Partnership. Mr Thomas Hardy,…
February 11, 2020
The Nigerian National Petroleum Corporation (NNPC) said that the daily average natural gas supply to gas-powered plants in November 2019 increased by 16.53 per cent to 645 mmscfd. The Corporation disclosed this in its Monthly Financial and Operations Reports (MFOR) released in Abuja, on Sunday. The increment, it said was equivalent to power generation of…
February 10, 2020
By Hamilton Nwosa (Head, The New Diplomat’s Business Desk) Following recent collapse of the national grid leading to blackouts across the country, the need to boost technical capabilities that would enhance grid stability has been canvassed. In this regard, industry operators maintain that the deployment of technical capabilities as well as the expertise of various…
January 22, 2020
By Hamilton Nwosa ( Head, The New Diplomat’s Business Desk) The Group Managing Director, Nigeria National Petroleum Corporation (NNPC) Mr. Mele Kyari has commended Lee Engineering and Construction Company for the progressive execution of the Atlas Cove Depot Optimization Project. The Atlas Cove Depot Optimization Project include the construction of three giant storage tanks with…
January 20, 2020
