OIL MARKET: Bonny Light price hovers at $54.44 per barrel By Eyo Nsima The price of Bonny Light, Nigeria’s oil grade, has hovered at $54.44 per barrel, in the international market. This indicates over 414 in excess of the $40 per barrel benchmark price of Nigeria’s 2021 budget, which was also based on […]
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OIL SPILL: Shell documents four incidents in January, still counting By Eyo Nsima Shell Petroleum Development Company Limited, a leading International Oil Company, IOC in Nigeria has already documented four oil spill incidents in the Niger Delta. According to its report, the company, which is still counting other incidents, said they happened in early January 2021,
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DOWNSTREAM: Dangote Refinery reaches 80.3% completion in Nigeria — Report The $12 billion Refinery has reached 80.3 percent completion, according to the Department of Petroleum Resources, DPR. In its latest report obtained by The Daily, http://www.thedaily-ng.com, the DPR disclosed that the plant, located at Lekki Free Trade Zone is blessed with 650,000 barrels per day,
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OIL MARKET: We are cautiously optimistic of rebounce —OPEC By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, has expressed cautious optimism over the possible rebounce of the oil market in 2021. Speaking at the S&P Global Platts Americas Petroleum and Energy Conference, 27 January 2021, HE Mohammad Sanusi Barkindo, OPEC Secretary-General, said: “Nonetheless, we
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How Declaration of Cooperation helped OPEC to stabilise oil market in the past — Barkindo The Secretary General, Organisation of Petroleum Exporting Countries, OPEC, has recounted the effectiveness of the Declaration of Cooperation, DoC, as a strategy in tackling instability in the global market. In his recent presentation obtained by The Daily, www.thedaily-ng.com, HE Mohammad Sanusi
By Godswill Odiong The oil and gas communities have been urged to make presentations and build consensus, targeted at ensuring that their demands are reflected in the nation’s Petroleum Industry Bill, PIB. Speaking at the just-concluded virtual engagement organized by The Daily, www.thedaily-ng.com targeted at increasing awareness, the Executive Director, SPACES FOR CHANGE, S4C, Victoria
By Godswill Odiong The Executive Director, SPACES FOR CHANGE, S4C, Victoria Ibezim-Ohaeri, has observed that the International Oil Companies, IOCs, and other operators, have remained unchanged in their demand as far as Nigeria’s Petroleum Industry Bill, PIB, is concerned. Ibezim-Ohaeri, who was the Guest speaker, at the virtual engagement organized by The Daily, www.thedaily-ng.com targeted
The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC), and DSV Engineering on Friday signed the Final Investment Decision (FID) for the construction of 10,000 tonnes/day methanol production plant by the Brass Fertiliser and Petrochemical Company Ltd (BFPCL), committing equity investment of US$670m. The facility would be the largest methanol
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…as partner take FID on project The Nigerian National Petroleum Corporation (NNPC) says it would do everything within its powers to ensure the timeous completion of the $3.6bn Integrated Gas Processing and Methanol Plant in Odioma, Brass Island, Bayelsa State. The Group Managing Director of NNPC, Mallam Mele Kyari, made the commitment at the signing
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PIB: Many Promises, Failures & Implications on Nigeria’s Oil & Gas Industry Victoria Ibezim-Ohaeri is a Havard-trained lawyer. She is also the founder and director of research and policy at Spaces for Change. She attended and presented a Memorandum at the House of Representatives on PIB, Thursday. The director has done this several times in
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