FUEL SUBSIDY: Why Nigerians should accept policy — Speaker, Lagos Assembly By Eyo Nsima The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Ajayi Obasa, has called on Nigerians to embrace the nation’s fuel subsidy as a way of life. Speaking at the occasion of his inauguration in Lagos, he said that […]
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By Godswill Odiong The Organisation of Petroleum Exporting Countries, OPEC, has disclosed that its Third Vienna Energy Scholar Programme (VESP) scheduled to hold in Vienna, Austria from 4 to 9 September 2023 at the OPEC Headquarters will create opportunities for young scholars. In a statement obtained by The Daily, www.thedaily-ng.com, OPEC stated: “The OPEC Secretariat
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MARKET UPDATE: Oil price to average $79 per barrel in second half of 2023, $84/b in 2024 — EIA By Eyo Nsima The United States Energy Information Administration, EIA, has put the average spot price of Brent at $79 per barrel (b) in the second half of 2023 (2H23) and $84/b in 2024. In its
JUST IN: Depots owners pledge support, set agenda for President Tinubu’s govt By Eyo Nsima The Chairman of Depots and Petroleum Products Marketers Association of Nigeria, DAPPMAN, Dame Winifred Akpani, has tasked the President, Bola Tinubu, to adopt measuring capable of ending the fuel crisis while achieving stability in Nigeria’s downstream sector. Akpani, who visited
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FUEL SUBSIDY: What Nigeria’s President Bola Tinubu should do By Dame Winifred Akpani We thank our president most graciously for the opportunity to meet so early in his administration. We congratulate you most sincerely on your resounding victory following the general elections. We are here today, to express our unwavering support for your administration. Our
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OIL MARKET UPDATE: Prices leap on account of China’s huge imports By Eyo Nsima Crude oil prices rose, Wednesday, following the appearance of data indicating that oil imports from China, a very fast growing economy, increased in May 2023 from the relatively low level recorded in April. The data obtained by The Daily, www.thedaily-ng.com indicated that China’s
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By Eyo Nsima Barely 24 hours after the decision of the Organisation of Petroleum Exporting Countries and its allies, popularly known as OPEC+ to cut output by about 800,000 barrels per day, bpd had propelled the price of Brent and others to over $77 per barrel, the market watchers wake up Tuesday to witness a
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OIL MARKET: Saudi Arabia, Russia, Iraq to produce 38.9% of OPEC+ over 40 mb/d in 2024 By Eyo Nsima The Organisation of Petroleum of Petroleum Exporting Countries, OPEC and its allies, popularly known as OPEC+, Sunday, resolved to produce over 40 million barrels per day, mb/d from January 2024. Three nations – Saudi Arabia, Russia
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OIL MARKET: We shall depend on IHS, Wood Mackenzie, and Rystad Energy data to review outputs of DoC nations — OPEC+ By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC and non-OPEC Participating Countries, popularly known as OPEC+ said it will depend on three independent sources – IHS, Wood Mackenzie, and Rystad Energy –
African Refinery Port Harcourt Limited, The NNPC Joint Venture Partner in the 100,000 barrels per day refinery currently being developed within the Port Harcourt Refinery Complex has lauded the bold action of the newly inaugurated Bola Ahmed Tinubu government in removing the petroleum subsidy. In a press statement, African Refinery’s Chief Executive Officer Mr
