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Oil Rises On Small Market Bounce, But Investors Eye Trade Outlook

Oil Rises On Small Market Bounce, But Investors Eye Trade Outlook

  Oil prices rose on Monday, supported by bounce in Asian stocks, but analysts said sentiment remains cautious after   financial markets plunge last week triggered by worries of slow global growth. Front-month Brent crude oil futures LCOc1 were at 77.96 dollars a barrel, up 35 cents, or 0.2 per cent, from their last close. […]

Nigeria Will Boost Gas Production By 3.4bn Standard Cubic Feet In 2020 – Official

  The Federal Government would deliver about 3.4 billion standard cubic feet of gas per day to bridge the medium-term supply gap by 2020. The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, gave the assurance on Saturday at the 2018 Graduation of Petroleum Training Institute (PTI), Effurun, Delta. The minister, who was represented […]

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Nigeria Loses $2.5bn To Gas Flaring – Expert

  Chief Executive Officer, AfriPERA, an Energy and Infrastructure Policy research organisation, Chinedu Onyeizu, says Nigeria loses about 2.5 billion dollars annually from gas flaring in the country. Onyeizu disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday, in Abuja. “Since the 1950’s, Nigeria has been burning off its natural […]

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Oil Approximately $74 On Report Of U.S. Inventory Drop, Iran Sanctions

  Brent oil rose to approximately 74 dollars a barrel on Wednesday as an industry report showing a drop in U.S. crude inventories and U.S. sanctions on OPEC producer, Iran, pointed to tighter supplies. The American Petroleum Institute reported U.S. crude stocks fell last week by 5.2 million barrels, more than three times the drop […]

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South Africa: Energy Department Intensifying Efforts To Curb High Fuel Costs

  Energy Minister Jeff Radebe says the department is intensifying efforts to cap and bring down the escalating cost of fuel.  The Minister said this when the department briefed the Portfolio Committee on Energy in Cape Town, on Tuesday.  The briefing comes after concerns from various sectors of the economy over the escalating cost of […]

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Special Report: Nigeria: Beyond Oil Spillage In Niger Delta

  Between 1970 to 2018, the Niger Delta region has recorded over 10,000 oil spillages and hardly were the affected communities compensated or quick clean-up of the affected communities impacted,Odimegwu Onwumere writes   Oil spill has become a recurring decimal in the Niger Delta region since 1956 that oil was first found in Nigeria.   The […]

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Nigeria To Become 3rd World Largest Exporter Of Gas

  The Nigeria Liquefied Natural Gas (NLNG) Ltd., says its ongoing plans to reach a Final Investment Decision (FID) on its Train-7 project by December will make the country the 3rd World largest gas exporter. Nigeria is presently the fourth exporter of gas in the world. The NLNG General Manager Production, Mr Tayo Ogini, said […]

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Nigeria, Niger Republic Sign $2bn Hydrocarbon Pipeline, Refinery Projects

  Nigeria and Republic of Niger on Tuesday in Abuja signed Memoranda of Understanding on the construction of two billion dollars Hydrocarbon Pipeline and Refinery in Nigeria. The News Agency of Nigeria (NAN) reports that the signing of the MoU was witnessed by President Muhammadu Buhari and his Nigerien counterpart Mahammadou Issoufou at the new […]

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