By Eyo Nsima Many crude oil prices have started to rebound, hitting more than $74 per barrel in the international market, due to positive speculation. The prices had dropped to as low as $72 per barrel on Wednesday, due mainly to negative speculation over the demand outlook. But the report of the Organisation of Petroleum […]
BREAKING: Crude prices rise again, hit over $74 per barrel Read More »
An African Energy Chamber (AEC) (www.EnergyChamber.org) delegation – comprising Verner Ayukegba, Senior-Vice President, AEC and Ray Tanyi, Consultant, AEC – led by NJ Ayuk, Executive Chairman of the AEC, conducted a site visit to Nyanga PayGas Station – a liquefied petroleum gas (LPG) project located in the Nyanga community area of Cape Town – on
By Eyo Nsima There was panic as the price of Brent, the global oil benchmark, dropped by over five percent to $72.39 per barrel, the first time since December 2021. The price collapse which also affected other crudes started after the U.S. Energy Information Administration reported an inventory build of 1.6 million barrels for the
OIL MARKET: Panic as Brent price drops to $72.39 per barrel Read More »
By Eyo Nsima Shell Petroleum Development Company, SPDC, has resumed oil export at the Bonny Oil and Gas Terminal in Rivers state. The terminal was shut down due to increased pipeline vandalism, oil theft, and illegal refining in the area. However, in a statement obtained by The Daily, https://thedaily-ng.com, the company disclosed that, “The Shell
Shell resumes oil export at Bonny Oil Terminal Read More »
By Funmi Ogbue It is my pleasure to speak with you today on behalf of the Women in Energy Network (WIEN) as we prepare for our 2023 International Women’s Day Breakfast Session. This year’s event is themed, “Programmes & Initiatives for Equitable Access for Women in the Nigerian Energy Industry,” and we are excited to
By Eyo Nsima The rig count of Unites States slipped month-on-month, MoM, by 1.8 per cent to 758 in February 2023, from 772 recorded in the preceding month of January 2023. This was disclosed by the Organisation of Petroleum Exporting Countries, OPEC, in its March 2023 Monthly Oil Market Report, MOMR, obtained by The Daily,
JUST IN: United States rig count drops 1.8% to 758 Read More »
By Eyo Nsima Iran, Saudi Arabia and Iraq have emerged as the top three nations in terms of global rig count, a major index of measuring upstream activities in the oil and gas industry in February 2023. The nations – Iran, Saudi Arabia and Iraq – recorded 117, 77 and 62 rig counts, according to
The Global Process and Pipeline Services Limited (GPPSL) in partnership with IK-Group of Norway has delivered for the first time in Nigeria and Africa the removal and change out of a 36-inch cryogenic pipeline gate valve. The project, executed in June 2022, was the first and largest AOGV ever deployed on the African continent to
GPPSL improves disruptive AOGV technology deployment on African continent Read More »
By Eyo Nsima Nigeria’s oil production rose month-on-month, MoM by 3.8 per cent to 1.306 million barrels per day, bpd in February 2023, from 1.258 million bpd recorded in the preceding month of January 2023. Also, on year-on-year, YoY, Nigeria’s oil production increased by 3.8 per cent to 1.306 million bpd in February 2023, from
UPSTREAM: Oil production rises 3.8% to 1.306m bp/d in Nigeria Read More »
TotalEnergies and Paprec, leader in plastic recycling in France, have signed a long-term commercial agreement to develop a French value chain for advanced recycling of plastic film wastes. The agreement will secure the supply of TotalEnergies’ future advanced plastic recycling plant in Grandpuits. Following the terms of this agreement, Citeo, the main organization in charge