The price of Nigeria’s Bonny Light has risen further to $62.51 in the international market as the Organisation of Petroleum Exporting Countries, OPEC, and partners, continue in their oil cut deal. The rise in price means that Nigeria, currently over-depending on crude oil production and export will be in a better position to fund its […]
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Executive Secretary NCDMB tasks IOCs on new projects The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has charged International Operating Oil and Gas Companies to emulate Total Exploration and Production Company (Total E&P) in sponsoring new projects and stop being deterred by the delayed passage of the Petroleum
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NLNG TRAIN 7: UNIPORT to get US$6M Gas Research Center As part of the Human Capital Development Programme for the NLNG Train 7 Project, over three billion Naira (US$6m) has been set aside for the strengthening of the LNG and Gas Research Centre at the University of Port Harcourt. The Executive Secretary, Nigerian Content Development and
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OIL MARKET: Price rises further to $62.43 per barrel By Alison Godswill The price of crude oil has risen to $62.43 per barrel in the international market as the Organisation of Petroleum Exporting Countries, OPEC, continues to pursue its oil cut policy. Specifically, the price of Brent, which had hovered at $61 in the past
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AFSIA releases first annual Africa Solar Outlook report AFSIA has launched its first annual Africa Solar Outlook report to help solar professionals keep track and better navigate the fast-evolving solar environment across the continent. This report is a country-by-country review of the key drivers for successful solar development. It aims at being the solar decision-maker
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NIGERIA: Oil exploration drops by 150% as stakeholders call for passage of PIB Oil exploration has dropped by 150 percent in Nigeria in the past year, thus causing stakeholders to make case for immediate passage of the Petroleum Industry Bill, PIB into law. In its latest report obtained by The Daily, http://www.thedaily-ng.com, the Organisation of
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The Department of Petroleum Resources (DPR), yesterday, said the Federal Government is making efforts to upgrade the downstream of the petroleum industry to a global standard. The downstream has the capacity to improve revenue from the oil and gas sector, increase contribution to Gross Domestic Product (GDP), and create massive employment, but has been bedeviled
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OIL MARKET: Recent tension in the Middle East posses uncertainty in the market — IEA The recent tension in the Middle East has once again added a layer of uncertainty to the oil market outlook, according to the International Energy Agency, IEA. In its latest Oil Marker report, obtained by The Daily, www.thedaily-ng.com, the IEA, stated: “The
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By Alison Godswill The price of Nigeria’s Bonny Light has risen to $60.52 per barrel, apparently the highest in 2021, as the Organisation of Petroleum Exporting Countries, OPEC continues to pursue its oil cut deal. The prices of other crudes, including Brent, OPEC Basket, and the Urals also rose from over $50 to $61.14, $60.28,
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The Organisation of Petroleum Exporting Countries, OPEC, has revised non-OPEC supply growth in 2021 down by about 0.2 million barrels per day, mb/d, indicating an increase of 0.7 mb/d, to average 63.3 mb/d. In its February 2021 report obtained by The Daily, www.thedaily-ng.com, OPEC stated: “The forecast for non-OPEC supply growth in 2021 has been
