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
The Organisation of Petroleum Exporting Countries, OPEC said it is well-pleased with Crude oil Price Movements since January, this year. In its February 2021 report obtained by The Daily, www.thedaily-ng.com, OPEC stated: “Crude oil spot prices rose firmly in January, along with a steady rise in futures markets. Major physical crude benchmarks increased about 10%
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The Department of Petroleum Resources, DPR has launched a new digital system to monitor the distribution of petroleum products in Nigeria. Speaking at the launch in Abuja, DPR Director/CEO, Engr. Auwalu Sarki, said: “Out very good information of how the products are been taken out of the borders. To do that, you need to know
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By Adetunji Oyebanji The public, which includes the downstream operators are key stakeholders in the Nigerian oil and gas industry. We believe that as a country, we have and should move beyond the debate on the arguments for the removal of petrol price subsidies. The discussion we should be having today is how best to
After Deregulation, what next? Read More »
The Organisation of Petroleum Exporting Countries, OPEC, has predicted that global demand will rise by 5.8 million barrels per day, mb/d in 2021, as the world continues its battle against the Coronavirus pandemic, which culminated in lockdown, and low demand for oil. In its report obtained by The Daily, www.thedaily-ng.com, it stated: “For 2021, oil
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