Oil & Gas

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:

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

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

Slated for Day Three of our #NigerianPavilion programme at the Offshore Technology Conference #otc2023, the African Technical Workshop sessions are two. The first which comprise of National Oil Companies, Regulators and Independent Oil Companies in Africa is themed ‘AfCFTA Implementation: Assessing Progress and Impact in the African Oil and Gas Industry’, and will be moderated

The Petroleum Technology Association of Nigeria (PETAN) has concluded plans to host the Sub-Saharan Africa International Petroleum Exhibition and Conference at this year’s edition of the Offshore Technology Conference (OTC) from 1- 4 May 2023 in Houston, Texas. As part of the line-up of activities themed; ‘Energy Transition and AfCFTA: Key Reforms for Sustainable Development