AFRICA: Algeria, Libya, Nigeria emerge top three in oil, gas activities By Eyo Nsima, Editor Algeria, Libya and Nigeria have emerged as the top three nations in terms of oil and gas activities in Africa. Algeria Based on rig count, a major index of measuring activities, on a month-on-month, MoM basis, the rig count […]
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PIA: Spaces for Change, NEITI, NUPRC, others task communities on Host Community Development Trusts By Eyo Nsima The Executive Director, Spaces for Change, S4C, Victoria Ibezim-Ohaeri, has urged communities to embrace opportunities offered by Nigeria’s Petroleum Industry Act, PIA, in order to achieve sustainable development. She said unlike in the past when communities were denied
OIL MARKET: Prices surge over $94 per barrel on Saudi Arabia, Russia production cut By Eyo Nsima As Saudi Arabia and Russia remain committed to their oil output cut, the prices of some crudes have risen to more than $94 per barrel in the international market. A market survey by The Daily, www.thdaily-ng.com, indicated that
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Nigerian Gas Association (NGA) Shines Bright at Gastech 2023 Conference in Singapore The Nigerian Gas Association (NGA) proudly marked its presence at the prestigious Gastech 2023 conference, held in Singapore from September 4 to 7, 2023, where with the support of corporate members such as the Nigerian National Petroleum Company Limited (NNPCL) and Nigeria
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DOWNSTREAM: TotalEnergies will extend fuel cap to €1.99/L in stations as prices remain high TotalEnergies took the unilateral initiative of capping the price of fuel at €1.99/L in all of its 3,400 French service stations until the end of the year 2023. In the context of rising fuel prices since the beginning of summer, TotalEnergies
UPSTREAM: Nigeria’s oil output hits 1.41m bpd By Eyo Nsima The oil output of Nigeria, a leading African producer has increased by 8.4 per cent to 1.41 million barrels per day, mbpd in August 2023, from 1.30 million bpd in July 2023. According to the September 2023 Nigerian Upstream Petroleum Regulatory Commission, NUPRC, report
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Subsidy removal: SERAP gives 36 governors 7 days to disclose details on spending of N2bn palliative Socio-Economic Rights and Accountability Project (SERAP) has urged the 36 state governors in the country to “disclose details on spending of the N2 billion palliative recently disbursed to each state by the Federal Government, including the names of
GASTECH: Stakeholders focus on transformative climate technologies At the third day of Gastech 2023, senior ministers, business leaders, and global climate specialists reached consensus on the steps required to develop new solutions to reduce carbon emissions and accelerate climate technologies. Participants agreed that globally, a clearer picture of the transformative potential of climate technologies
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NIGER DELTA: NNPCL kicks against Oando acquisition of Agip’s oil assets By Eyo Nsima The Nigerian National Petroleum Company Limited, NNPCL, has challenged the acquisition of Nigerian Agip Oil Company onshore (land) assets by Oando Plc in Nigeria. The sale of Oil Mining Lease, OMLs 60, 61, 62 and 63 was targeted at enabling Agip
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Oil boom as prices rise over $90 per barrel on Saudi Arabia, Russia production cut By Eyo Nsima Oil prices have risen to more than $90 per barrel in the global market, due to production cut by Saudi Arabia and Russia. Specifically, the prices of Bonny Light, Brent and OPEC Basket rose to $90.88, $90.87 and
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