The Minister of State, Petroleum Resources, Chief Timipre Sylva has urged Nigerians to be ready to pay more for fuel as crude oil prices rise in the global market. Speaking at the launch of Nigerian Upstream Cost Optimization Program in Abuja, he said with no provision of subsidy in the 2021 budget, Nigerian National Petroleum […]
Nigerians should be ready to pay more for fuel — Minister Read More »
.As Nigeria’s Bonny Light price hits $59.46 By Alison Godswill The price of Brent has risen to $61.15 per barrel in the international market as the Organisation of Petroleum Exporting Countries, OPEC and non-members continue to cut supplies to the market. The price of other crudes, including OPEC Basket, West Texas Intermediate, WTI, and the
OIL MARKET: Oil price rises to over $61.15 per barrel Read More »
The Angolan Agency for Oil, Gas, and Biofuels, AAOGB has explained that the planned Environmental Impact study is an essential condition for the country’s bidding. In a statement obtained by The Daily, www.thedaily-ng.com, the agency, stated: “Due to some inaccurate interpretations disseminated in national and international media and also on social media about the work
BIDDING ROUND: Angola’s Environmental Impact study is desirable — AAOGB Read More »
On February 8, 2021, the Board of Directors, under the conditions set forth at the Extraordinary Shareholders’ Meeting of May 26, 2017, decided to decrease the share capital of TOTAL SE by way of cancellation of 23,284,409 treasury shares representing 0.88% of the share capital. According to Total, “These shares were repurchased from October 31,
Share Capital decrease through treasury shares cancellation Read More »
PRESS RELEASE DPR ISSUES LICENCE TO ESTABLISH FIRST FLOATING LNG PRODUCTION PLANT The Department of Petroleum Resources (DPR) has issued Licence to Establish (LTE) the first floating LNG production plant for the processing of 176MMcfd natural gas and condensate to UTM Offshore Limited, an indigenous oil and gas company at a presentation ceremony at
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By Alison Godswill At last, the oil price has risen to $60 per barrel in the international market as the Organisation of Petroleum Exporting Countries, OPEC continues on its oil deal. Specifically, the price of Brent, usually used to benchmark other oil prices rose from $59 to the current price on February 8, 2021. Other
BREAKING: At last oil price hits $60 per barrel Read More »
A 50/50 joint venture between Macquarie’s Green Investment Group (GIG) and Total have been successful in securing rights to a seabed lease in the Eastern Regions zone in the Crown Estate’s Offshore Wind Leasing Round 4. According to Total, “the project, which will be located off the UK’s East Anglian coast, could deliver up to
TOTAL, GIG to jointly develop 1.5 GW offshore UK Read More »
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
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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
