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 […]
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By NJ Ayuk Several years ago, the African energy industry was in survival mode. The COVID-19 pandemic had practically eliminated the demand for crude oil, and African exports dropped sharply. That’s why — though many African states are still feeling the wounds inflicted by COVID — I find it encouraging to learn that Africa’s
The Outlook for African Oil in 2023 is Promising Read More »
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
BREAKING: Oil prices fall to $73.07 per barrel despite dropping inventory Read More »
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
African Energy Chamber (AEC) Releases Q1 2023 Outlook: The State of African Energy Read More »
Sahara Group, Egbin, NCF join forces to promote environmental sustainability. Leading energy and infrastructure conglomerate, Sahara Group, Egbin Power Plc, a Sahara Group company, and the Nigerian Conservation Foundation (NCF) have commenced a partnership geared towards the establishment of a nature reserve in Ikorodu to promote environmental sustainability. Ikorodu is a coastal city
Sahara Group, Egbin, NCF join forces to promote environmental sustainability. Read More »
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
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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:
NIGERIA: FG suspends fuel subsidy removal Read More »
By Eyo Nsima Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has increased its unaudited results for the three months ended 31 March 2023, profit before tax by 3.2 per cent to N39.5 billion, from N34.7 billion year-on-year, YoY. The company also
CORPORATE REPORT: Seplat Energy increases 2023 Q1 Profit before Tax by 3.2% to N39.5bn Read More »
Joint IEA-IEF-OPEC Workshop: High-level experts meet on the Interactions between Physical and Financial Energy Markets By Eyo Nsima The International Energy Agency (IEA), the International Energy Forum (IEF) and the Organization of the Petroleum Exporting Countries (OPEC) held the 9th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets. The high-level meeting
