LNG: We have not shut down — NLNG By Eyo Nsima The Nigeria LNG Limited (NLNG’s) said it has not completely shut its plant in Bonny, Rivers State as speculated in the media. In a statement obtained by The Daily, weekend, the company stated: “Our attention has been drawn to a newspaper report on […]
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OB3 gas pipeline project: Ekpo tasks contractors on December deadline Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, has urged contractors handling the Obrikom, Obiafo and Oben (OB3) gas pipeline project to ensure its completion by December this year. He stated this on Thursday during a tour of the 48 × 1.8km gas pipeline
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NCDMB, NNPC, IOCs Sign Agreement, Target 6 MonthsOil Industry Contract Cycle With the goal of quickly ramping up Nigeria’s flagging crude oil production, ensuring compliance with the provisions of the Nigerian Content Act, and timely approvals of documents,the Nigerian Content Development and Monitoring Board (NCDMB) on Monday in Abuja signed a Memorandum of Understanding (MoU)
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OIL MARKET: Prices hover at $96.05 per barrel as traders take profit By Our Correspondent The prices of crude oil that had surged toward $100 per barrel has dropped slightly to $96 per barrel in the international market. For instance, the price of Nigeria’s Bonny Light, which stood at $97.17 per barrel, on Wednesday,
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NCDMB’s Support is Causing Us to Think Upgrades, Additional Investments” The Chief Operating Officer of MicCom Cables and Wires, Bukola Adubi, has said that as a result of the support her company is getting from the Nigerian Content Development and Monitoring Board (NCDMB), through its effective and efficient implementation of the Nigerian Oil and Gas
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JUST IN: Price of Qua Iboe rises over $100 per barrel By Eyo Nsima The price of Qua Iboe has surged over $100 per barrel as inadequate oil supply continues to affect the international market. The current price is the highest since 2022 when the world experienced a shortfall, due mainly to the Russian invasion
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OIL MARKET: Prices surge over $94 per barrel on Saudi Arabia, Russia production cut By Eyo Nsima As Saudi Arabia and Russia remain committed to their oil output cut, the prices of some crudes have risen to more than $94 per barrel in the international market. A market survey by The Daily, www.thdaily-ng.com, indicated that
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DOWNSTREAM: TotalEnergies will extend fuel cap to €1.99/L in stations as prices remain high TotalEnergies took the unilateral initiative of capping the price of fuel at €1.99/L in all of its 3,400 French service stations until the end of the year 2023. In the context of rising fuel prices since the beginning of summer, TotalEnergies
UPSTREAM: Nigeria’s oil output hits 1.41m bpd By Eyo Nsima The oil output of Nigeria, a leading African producer has increased by 8.4 per cent to 1.41 million barrels per day, mbpd in August 2023, from 1.30 million bpd in July 2023. According to the September 2023 Nigerian Upstream Petroleum Regulatory Commission, NUPRC, report
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Oil boom as prices rise over $90 per barrel on Saudi Arabia, Russia production cut By Eyo Nsima Oil prices have risen to more than $90 per barrel in the global market, due to production cut by Saudi Arabia and Russia. Specifically, the prices of Bonny Light, Brent and OPEC Basket rose to $90.88, $90.87 and
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