Oil & Gas

Infini Power Ltd., NCDMB, GACN sign PPA to supply power to NOGaPS A member of Tetracore Energy Group; Infini Power Limited “IPL” in collaboration with the Nigerian Content Development and Monitoring Board “NCDMB” and the Gas Aggregation Company of Nigeria “GACN”, have signed a Power Purchase Agreement (PPA). The PPA is targeted at supplying Independent […]

OIL DEAL: Iraq, Kurdistan close to exporting more than 400,000 bpd By Eyo Nsima The government of Iraq and Kurdistan are close to exporting more than 400,000 barrels per day, bpd in the coming months. Iraq’s oil minister, Hayyan Abdul Ghani, who confirmed the development, said: “Regarding the agreement with the Region, we have reached

BREAKING: Oil prices fall to $73.07 per barrel despite dropping inventory By Eyo Nsima The prices of crudes have fallen by 2.56 per cent to $73.07, from about $75 per barrel recorded last week in the global oil market. The new prices, currently below the 2023 budget benchmarks of some producing and exporting countries, are

Oil: Nigeria, Libya, Algeria, Angola and Egypt to produce more than 80% of Africa’s output in 2023 —- AEC By Eyo Nsima Top five producers – Nigeria, Libya, Algeria, Angola and Egypt – would produce more than 80 per cent of Africa’s 2023 output, according to African Energy Chamber, AEC. In its first quarter 2023

African Energy Chamber (AEC) Releases Q1 2023 Outlook: The State of African Energy While global supply chains experience significant volatility, African exploration and production have begun to ramp up as international stakeholders turn their attention to high-potential energy markets across the continent. As such, Africa’s energy landscape is on the precipice of widespread change, opening

BREAKING: Oil prices drop below $80 per barrel in global market By Eyo Nsima Crude oil prices dropped, this morning, below $80 per barrel, from more than $80, recorded last week, due to expected weak economic data from China, a major consumer. Checks by The Daily, www.thedaily-ng.com, indicated that many crudes, including Brent, OPEC Basket, WTI

By Eyo Nsima Contrary to its former plan to end fuel subsidy in June 2023, the Federal Government of Nigeria said it has agreed that petrol subsidy should not be removed. Speaking at the end of the National Economic Council meeting in Abuja, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, said: