The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦13.43billion for the month of November 2020 up by 54% when compared to the ₦8.71billion surplus recorded in October 2020. This is contained in the November 2020 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a press release by […]
NNPC records 54% rise in trading surplus for November Read More »
By Eyo Nsima The International Energy Agency, IEA has predicted that oil market recovery will become more visible in the second half of 2021. In its latest report obtained by The Daily, www.thedaily-ng.com, IEA stated: “Global oil demand is expected to recover by 5.5 mb/d to 96.6 mb/d in 2021, following an unprecedented collapse of
OIL MARKET: Expect recovery in the second half of 2021 — IEA Read More »
By Eyo Nsima The price of Nigeria’s Bonny Light has risen to $58.93 per barrel in the international oil market, thus increasing hope for the execution of the nation’s 2021 budget. The budget was benchmarked on $40 per barrel, and 1.8 million barrels per day, mb/d. The prices of other crudes, including Brent, OPEC Basket
Chevron Corporation has submitted a non-binding proposal to the Board of Directors of Noble Midstream GP LLC, the general partner of Noble Midstream Partners LP (NASDAQ: NBLX), to acquire all of the publicly held common units representing limited partner interests in NBLX not already owned by Chevron and its affiliates (the Common Units). In a
Chevron makes an offer to acquire Noble Midstream Partners LP Read More »
The Department of Petroleum Resources (DPR), yesterday, disclosed that the majority of the crude oil theft recorded in the country’s petroleum industry occur in the inland terminals, noting that it is practically impossible to steal crude oil from the offshore terminals. In a statement issued by its Head, Public Affairs, Mr. Paul Osu, in Abuja,
OIL THEFT: It’s practically impossible to steal offshore – DPR Read More »
By Eyo Nsima The construction of Azikel Refinery has reached 39.5 per cent, according to the Department of Petroleum Resources, DPR. In its latest report obtained by The Daily, www.thedaily-ng.com, DPR stated that the plant, located at Obunagha, Yenagoa Local Government Area of Bayelsa State, has the capacity to refine 12,000 barrels per day, BPD.
Azikel Refinery reaches 39.5% Completion Read More »
OIL MARKET: Kazakhstan, Iraq pledge to compensate for overproduced volumes Kazakhstan has pledged to make up for its previous over-production, according to the Organisation of Petroleum Exporting Countries, OPEC. In a statement obtained by The Daily, www.thedaily-ng.com, OPEC stated: “Kazakhstan continues to demonstrate its full support for the decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th
OIL MARKET: Kazakhstan, Iraq pledge to compensate for overproduced volumes Read More »
Oando Foundation, an independent charity founded in 2011 to support the Nigerian Government in achieving its Universal Basic Education goals, is pleased to announce the commemoration of its tenth (10th) year anniversary on February 4, 2021. According to Oando, the Foundation was established in 2011 by Oando PLC, Nigeria’s leading indigenous energy solutions provider, with
Oando Foundation Commemorates decade of Progress as it marks 10th anniversary Read More »
.Commends Nigeria on output cut By Eyo Nsima THE Organisation of Petroleum Exporting Countries, OPEC, has appointed Nigeria’s Minister of State for Petroleum Resources, Chief Timipre Sylva as Special Envoy to consult with the Declaration of Cooperation (DoC). This was even as OPEC commended Nigeria for the sacrifices made to assist in achieving oil market
OIL MARKET: OPEC appoints Chief Sylva Special Envoy to consult with DoC countries Read More »
Iraq reiterates its commitment to adhering to full conformity and compensating for overproduced volumes in accordance with decisions taken at OPEC and non-OPEC Ministerial Meetings (ONOMM), most recently the 13th ONOMM on 4/5 January 2021, according to the Organisation of Petroleum Exporting Countries, OPEC. In a statement obtained by The daily, www.thedaily-ng.com, OPEC, stated: “Iraq
