Mexico, which was one of the top-ten oil suppliers to India last year, has drastically cut its crude exports to the Asian consumer so far this year as state oil firm Pemex works to launch a large refinery to process…
World’s largest independent crude oil trader, Vitol, believes people might stop purchasing the commodity as price rises in global market – a situation being experienced in Nigeria. The oil major’s head of Asia, Mike Muller, said expensive energy will deplete…
Though he was appointed as the substantive Executive Secretary of Nigerian Content Development and Monitoring board almost half a decade ago, his landmarks, and heroic achievements in the upstream, downstream and midstream sectors have left so many encouraged, rendered many…
Centre for Peace and Environmental Justice (CEPEJ), an NGO, has urged stakeholders in the oil and gas regions to protect their environment from companies working contrary to environmental best practices. This is contained in a statement signed by the NGO…
By Uthman Salami Last year, rift between oil marketers and indecisiveness on the part of federal government almost threw Nigerians into torrid moments – the time they had to wait for hours, and sometimes days before they could get fuel. …
…NOGIC implementation produces Seplat, Eroton, Aiteo others …Unveils operating models for $50m Nigerian content research, development By Uthman Salami The Nigerian Content Development and Monitoring Board (NCDMB) has achieved 42 per cent local content equity partnership, an improvement to what the 30…
Uncertainty about immediate containment of the Omicron variant of the coronavirus has compelled Morgan Stanley to slash its Brent price forecast for the first quarter of 2022 to $82.50 a barrel from $95 per barrel expected earlier. Oil prices dropped by more than 11…
By Uthman Salami The Nigerian Financial Intelligence Unit (NFIU) Director and Chief Executive Officer, Mr. Modibbo Tukur, has disclosed that President Muhammadu Buhari has granted approval to the NFIU, Nigeria Extractive Industries Transparency Initiative (NEITI) as well as other anti-corruption…
The Standards Organisation of Nigeria, SON, is considering new modalities that will influence implementation of its set standards especially in mid and downstream sectors of the economy. The Agency said that the establishment of the Midstream and Downstream Petroleum Regulatory…
A research conducted by consultancy Rystad Energy has predicted that the increase in liquefied natural gas (LNG) prices has widened the gap with oil prices and could boost oil demand by 400,000 barrels a day (bpd) on average over the…
