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

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 […]

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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Nigeria: ExxonMobil Lagos Hq Shut By Protesting Workers

  The Lagos headquarters of ExxonMobil has been shut down by the company’s workers’ unions over the sacking of 860 spy police without entitlement. The News Agency of Nigeria (NAN) reports that the workers besieged the office of the oil company, protesting the sacking of workers, mainly Nigerians, on Tuesday in Lagos. The protesters accused […]

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Nigeria Loses Billions Of Dollars Over Failure To Reform Oil, Gas Industry – Speaker Dogara

  Speaker of the Nigeria’s House of Representatives,  Yakubu Dogara, has said that the new petroleum industry bill that the National Assembly is processing will enable Nigeria to operate at standards and levels of efficiency expected of a twenty first century oil and gas industry.   He also added that as it currently stands, even […]

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Nigeria: AfDB Approves $1.5m For Jigawa Power Project

The African Development Bank (AfDB) says it has approved a grant of 1.5 million dollars (about N540 million) to support power project in Jigawa state. Mr Amadou Hott, Vice President, Power, Energy, Climate and Growth complex of the bank disclosed this in an interview with the News Agency of Nigeria (NAN) in Abidjan, on Saturday. […]

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