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
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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
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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
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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,
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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
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