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London — Hedge funds resumed selling petroleum as Saudi Arabia ramped up output following attacks on its oil installations and the focus shifted back to the poor health of the global economy and oil consumption. Hedge funds and other money managers sold 16 million barrels of futures and options in the six major petroleum contracts […]
The post Hedge funds resume selling oil as focus turns back to economy: John Kemp appeared first on SweetCrudeReports.
More »Singapore — Petrochina said on Sunday that certified, newly added proven shale gas geological reserves at Changning-Weiyuan and Taiyang blocks in the Sichuan basin totaled 740.97 billion cubic metres. China’s state-run energy producers are raising spending on domestic oil and gas drilling to a multi-year high this year, answering Beijing’s call to boost energy supply […]
The post Petrochina reports big shale gas additions in Sichuan basin appeared first on SweetCrudeReports.
More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $62.51 a barrel on Friday, compared with $62.31 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »Dubai — Iran’s oil minister told the petroleum industry on Sunday to be on alert to physical and cyber attacks, amid heightened tensions with the United States in the Gulf region. U.S. media reports have said Washington was considering possible cyber attacks against Iran after the Sept. 14 attacks on Saudi Arabia’s oil sites, which […]
The post Iran oil industry must be alert to physical, cyber threats – minister appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port Harcourt — Oil production activities are now set to recommenced in Oil Mining Lease, OML 25, two years after the Belema Flow Station and Gas Plant was shutdown, due to a protracted dispute between Shell Petroleum Development Company, SPDC and the host communities. This is as the Federal Government through the Ministry […]
The post Jubilation as Sylva, Kyari re-open OML 25 in Rivers, sue for peace appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port Harcourt — The Shell Petroleum Development Company of Nigeria Limited, SPDC, says the Niger Delta people have the necessary ingredients to attract much more investment to the region given the region’s “fantastic basis for growth and for competitiveness.” Deputy Managing Director of SPDC, Mr. Simon Roddy said Niger Delta stakeholders need to ensure […]
The post SPDC explains how Niger Delta can attract more investment appeared first on SweetCrudeReports.
More »News wire — Nordic front-quarter power prices rose on Friday, supported by forecasts for relatively cooler weather, while weaker carbon rates weighed on front-year prices. * Nordic front-quarter baseload power contract rose 0.26 euro to 37.60 euros per megawatt hour (MWh) as of 1142 GMT. * “Temperatures are dropping which is reducing expected inflows and […]
The post NORDIC POWER – Front-quarter prices gain on colder weather view appeared first on SweetCrudeReports.
More »Houston — Shipments of Canadian crude from the U.S. Gulf Coast since May have more than doubled all of 2018’s exports as Asian refiners scramble for heavy sour oil, according to vessel-tracking data, traders and industry sources. Following U.S. sanctions on Venezuela in late January, Asian refiners have sought new heavy oil supplies in a […]
The post Canada’s heavy oil exports to Asia from U.S. surge – data, traders appeared first on SweetCrudeReports.
More »Sarajevo — The government of Bosnia’s autonomous Bosniak-Croat Federation plans to issue a tender in October to award oil and gas exploration and exploitation licences, it said on Friday. The Federation, which makes up Bosnia alongside the Serb Republic, is offering investors the opportunity to search for hydrocarbon deposits in four blocks in the Dinaridi […]
The post Bosnia’s region to issue oil, gas exploration tender in Oct. appeared first on SweetCrudeReports.
More »Ankara — Turkish President Tayyip Erdogan said on Friday it was impossible for Turkey to stop buying oil and natural gas from Iran, despite the threat of U.S. sanctions, and added that trade between the two countries would continue, according to broadcaster NTV. Speaking to reporters on his return flight from the United Nations General Assembly […]
The post Erdogan says Turkey will continue oil, natural gas trade with Iran -NTV appeared first on SweetCrudeReports.
More »*The Forum, “Fostering Fertilizer Future” will discuss the financing needs of the fertilizer value chain and appropriate financing products ABIDJAN, Ivory Coast — The African Development Bank, the Africa Fertilizer Financing Mechanism, AFFM, and the West Africa Fertilizer Association will hold the first West Africa Fertilizer Financing Forum from 30 Sept to 01 Oct 2019 […]
The post AfDB to host first West Africa Fertilizer Financing Forum appeared first on SweetCrudeReports.
More »Lagos — The Managing Director of Lagos Deep Offshore Logistic Base, LADOL, Dr. Amy Jadesimi anlong with other African influencers were selected to speak along side the Deputy Secretary-General of the United Nations, Amina Mohammed at the historic launch of Africa Influencers for Development, AID at the ongoing United Nations General Assembly in New York […]
The post LADOL CEO, other African influencers speak alongside Amina Mohammed appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port Harcourt — The Federal High Court sitting in Yenagoa,the Bayelsa State capital, has subpoenaed the Coordinator of the Presidential Amnesty Programme, Prof Charles Dokubo, to personally appear before it on October 4th, 2019, over allegations of diversion of amnesty slots and unpaid stipends. This is as some 75 ex-militants under Benuwolo camp in […]
The post Ex-militants drag Amnesty Office to court over N492m stipend appeared first on SweetCrudeReports.
More »Tokyo — Japanese gas distributor Tokyo Gas aims to renegotiate long-term contracts with liquefied natural gas (LNG) suppliers to boost flexibility by scrapping clauses that restrict where the cargoes can be sold, its president said on Thursday. Japan’s Fair Trade Commission in 2017 ruled that destination restrictions preventing the resale of contracted LNG cargoes breached […]
The post Tokyo Gas aims to renegotiate LNG contracts, raise flexibility appeared first on SweetCrudeReports.
More »Bangkok — U.S. energy major Chevron Corp has opted to continue negotiations with Thailand rather than seek arbitration to resolve a dispute over who should pay for removing offshore oil and gas platforms, the company told Reuters on Wednesday. Thailand wants Chevron to pay the full decommissioning costs for infrastructure at the Erawan gas field, which […]
The post Chevron says no arbitration for now over Thai energy dispute appeared first on SweetCrudeReports.
More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $62.31 a barrel on Thursday, compared with $62.35 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »Mkpoikana Udoma Port Harcourt — The Pan Niger Delta Elders Forum, PANDEF, has charged the Nigerian National Petroleum Corporation, NNPC, to mandate it’s investment and regulatory arms, namely the National Petroleum Investment Management Services, NAPIMS and the Department of Petroleum Resources, DPR to relocate their corporate head offices to the Niger Delta region. PANDEF spoke exclusively […]
The post NAPIMS, DPR must relocate headquarters to N/Delta – PANDEF appeared first on SweetCrudeReports.
More »Singapore — Indonesia’s state-owned oil and gas company PT Pertamina has opened a trading and marketing office in Singapore, returning to the city-state four years after closing its previous office over a corruption scandal. Pertamina’s return is part of a broader effort by the company to boost overseas revenue by expanding in Asia, Agus Witjaksono, […]
The post Indonesia’s Pertamina opens Singapore office as Petral probe continues appeared first on SweetCrudeReports.
More »London — India’s oil consumption is growing well below its long-term trend as the country struggles with a widespread economic slowdown, including a slump in new vehicle sales. The slowdown is part of a worldwide economic deceleration, which is weighing heavily on the motor industry. But because India has been so important for growth in […]
The post COLUMN-India’s stuttering economy hits global oil demand: Kemp appeared first on SweetCrudeReports.
More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $62.35 a barrel on Wednesday, compared with $63.93 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »Vincent Toritseju Lagos — The Nigerian Shippers’ Council, NSC, has recovered N34,977,741.67, and $500,000 (about N180 million), through its mediation in 116 trade related and other complaints lodged before it between January and September last year. A breakdown of the complaints lodged and resolved by the Council during the period, indicated that 23 complaints […]
The post Shippers’ Council recovers N215m through mediation in 116 disputes appeared first on SweetCrudeReports.
More »Lagos — Gazprom is expected to lead new-build gas processing capacity additions in the global gas processing industry from planned and announced (new-build) projects between 2019 and 2023, contributing around 13% to global gas processing capacity growth by 2023, according to GlobalData, a leading data and analytics company. The company’s report, ‘Global Capacity and Capital […]
The post Gazprom to lead global gas processing capacity additions by 2023 appeared first on SweetCrudeReports.
More »New Delhi — Protests by workers at Coal India Ltd on Tuesday over implementation of reforms including allowing 100% foreign direct investment (FDI) in coal mining paralysed operations and hit production, company officials and union leaders said. The company, which accounts for over four-fifths of India’s coal output and employs about 300,000 people, registered a […]
The post Coal India workers protest over easing foreign investment rules, output hit appeared first on SweetCrudeReports.
More »Warsaw — Poland’s biggest oil refiner PKN Orlen will receive a spot delivery of almost 100,000 tonnes of oil from the United States next month as part of its plan to diversify supply, it said on Tuesday. The group, which wants to reduce its reliance on Russian oil, said it is exploring an option to include […]
The post Poland’s PKN expects to receive almost 100,000 tonnes of U.S. oil in October appeared first on SweetCrudeReports.
More »Sanya, China/Singapore — China’s national offshore producer CNOOC Ltd expects its major deepwater gas field Lingshui 17-2 in the South China Sea to start its first gas production at the end of 2021, a company executive said on Tuesday. Chinese state-run energy producers are raising spending on domestic oil and gas drilling to multi-year highs […]
The post China CNOOC to start pumping at large deepsea gas field at end-2021 – official appeared first on SweetCrudeReports.
More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $63.93 a barrel on Tuesday, compared with $64.51 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »Houston — Oil prices fell 2% on Tuesday as U.S. President Donald Trump fanned market fears that Sino-American trade tensions are far from settled amid ongoing negotiations, a grim sign for oil demand growth. Trump sharply criticized what he called China’s unfair trade practices in a speech at the United Nations General Assembly, saying he […]
The post Oil falls 2% after Trump ratchets up U.S.-China trade war appeared first on SweetCrudeReports.
More »United Nations, New York – With an estimated 390 million people living in extreme poverty, hunger and food insecurity, Africa is in a race against time to deliver on its regional and global development goals. On the sidelines of the UN General Assembly on Sunday, African heads of states and governments met to emphasize urgent […]
The post UN, AfDB high-level meeting calls for speed and action on SDGs appeared first on SweetCrudeReports.
More »OpeOluwani Akintayo Lagos — World oil demand growth for 2019 was revised lower by around 0.08 mb/d and 0.06 mb/d respectively, according to OPEC’s Monthly Oil Market Report, MOMR for September. The report says the downward demand is primarily as a result of a slower than expected performance from both the Organisation for Economic Co-operation […]
The post OPEC revises down world oil demand for 2019, 2020 appeared first on SweetCrudeReports.
More »Frankfurt — German climate protection plans involving the closure of some coal plants might cost 1.2 billion euros ($1.32 billion) by 2030 without achieving the desired reductions in carbon emissions, an independent study said on Monday. A draft law detailing the plan to shut hard coal fired power plants by offering operators fiscal incentives in […]
The post German coal closure auctions could be costly, insufficient – study appeared first on SweetCrudeReports.
More »London — Kosmos Energy, a U.S.-listed oil and gas exploration company, said on Monday the results of its appraisal drilling offshore Senegal were good enough to consider a second liquefied natural gas (LNG) export plant in the West African country. Kosmos discovered the Greater Tortue accumulation of gas offshore Senegal and Mauritania in 2015 and […]
The post Kosmos touts 2nd LNG plant in Senegal after drilling results appeared first on SweetCrudeReports.
More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $64.51 a barrel on Monday, compared with $65.30 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
The post OPEC daily basket oil price closes at $64.51 per barrel appeared first on SweetCrudeReports.
More »*As NNPC Concludes $875.75m Alternative Financing Package for OML 65 Expansion Abuja — The push by the Management of the Nigerian National Petroleum Corporation, NNPC, to increase crude oil production and grow the nation’s revenue profile gained momentum with the closure of $875.75m alternative financing deal for the Nigerian Petroleum Development Company, NPDC, operated OML […]
The post Nigeria to earn fresh $6.35 billion in taxes and royalties appeared first on SweetCrudeReports.
More »Lagos — A former Director of Legal Services in the Ministry of Petroleum Resources, Mrs Grace Taiga, was on Friday arraigned before a High Court of the Federal Capital Territory for alleged involvement in the signing of the gas supply contract between the Ministry of Petroleum Resources and Processes and Industrial Development, P&ID, of Ireland. […]
The post $9.6bn Judgement Debt: Former Petroleum Ministry director arraigned, remanded in prison custody appeared first on SweetCrudeReports.
More »Beijing — China has around 80 days of oil in storage, including those in its strategic petroleum reserve (SPR), oil storage at oil firms and commercial stocks, a National Energy Administration (NEA) official said on Friday. China, the world’s biggest importer of crude oil, will complete building the second phase of its strategic oil storages […]
The post China has enough oil inventories to last about 80 days – NEA appeared first on SweetCrudeReports.
More »LAGOS — Nigeria’s central bank held its benchmark interest rate at 13.5%, its governor Godwin Emefiele said on Friday. Most analysts previously polled by Reuters had predicted the central bank would probably ease in September.
The post Central Bank of Nigeria keeps benchmark interest rate at 13.5% appeared first on SweetCrudeReports.
More »Dallas — Total SA cut production on the coker at its 225,500 barrel-per-day (bpd) Port Arthur, Texas, refinery because of heavy lightning, sources familiar with plant operations said on Thursday. Total cannot operate the crane that clears coke dumped from the 60,000 bpd coker during heavy lightning, the sources said. Running one train instead of […]
The post Total Port Arthur, Texas refinery cuts coker production appeared first on SweetCrudeReports.
More »London — Royal Dutch Shell (RDSa.L) has loaded the first cargo of low-sulfur fuel oil (LSFO) from its Pulau Bukom refining site in Singapore, it said. Demand for stable low-sulfur marine fuel supplies is rising as the shipping sector prepares for the International Maritime Organization’s (IMO) lowering of the cap on sulfur in marine fuels […]
The post Shell loads first LSFO cargo from Singapore refinery ahead of IMO appeared first on SweetCrudeReports.
More »OpeOluwani Akintayo Lagos — The African Institute for Science Policy and Innovation, AISPI of Obafemi Awolowo University has honoured Aiteo Group and her Global Group Director, Procurement & Corporate Services, Mrs. SPB Jigo with two awards. The African Institute for Science Policy and Innovation, AISPI was established as the Technology Planning and Development Unit, TPDU […]
The post Aiteo Group, Jigo bags double awards from OAU appeared first on SweetCrudeReports.
More »Read the Weekly SweetcrudeReports: Piracy attacks decline in Nigerian waters – Naval Chief. DOWNLOAD IT DOWNLOAD IT
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More »New Delhi — Indian Prime Minister Narendra Modi will meet executives from energy majors BP PLC and Exxon Mobil Corp in the United States next week to discuss investment opportunities, the foreign ministry said on Thursday. The energy hungry nation, which has been increasing imports of crude from the United States, is looking at raising […]
The post India’s Modi to meet BP, Exxon executives to discuss investment opportunities appeared first on SweetCrudeReports.
More »Melbourne — Oil major Exxon Mobil Corp said on Wednesday it was looking to sell its 50% stake in the Gippsland Basin oil and gas development in Australia’s Bass Strait as part of a broader review of its portfolio of assets around the world. The Gippsland Basin joint venture, off the state of Victoria, has […]
The post Exxon Mobil seeks to sell Australian Bass Strait oil, gas assets appeared first on SweetCrudeReports.
More »Brussels — Ukrainian Energy Minister Oleksiy Orzhel hoped to reach a deal with Moscow on gas transit to Europe during negotiations in Brussels on Thursday while his Russian counterpart Alexander Novak said he was ready for “constructive” talks. The Russia-Ukraine gas transit agreement expires in January. Ukrainian energy authorities are worried that Moscow could stop […]
The post Ukraine, Russia in Brussels for gas transit talks appeared first on SweetCrudeReports.
More »London -- High freight rates and a wide backwardation continued to weigh on the market on Wednesday, making a large overhang slow to clear. * Around 50 cargoes of October-loading west African were still available, with about 35 Nigerian, 10 Angolan and cargoes of Congolese Djeno, Ghanaian TEN and Jubilee. * "For a VLCC to […]
The post W. Africa Crude – Hefty overhang is slow to clear appeared first on SweetCrudeReports.
More »London — Saudi Arabia will try to maintain oil supplies to its major customers by drawing down crude stored at tank farms in the kingdom and in its global network while repairing and replacing installations damaged in the recent attacks. Saudi Arabia reported domestic crude stocks of 180 million barrels at the end of July, […]
The post Saudi Arabia draws down oil stocks to maintain supply after attack appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port Harcourt — American oil giant, ExxonMobil Nigeria Unlimited and Akwa Ibom State Governor, Udom Emmanuel, Wednesday, met to brainstorm on investment in oil and gas sector in the state. Akwa Ibom State Governor, Udom Emmanuel, on his social media handle, disclosed that other issues discussed during the meeting include job creation, wealth […]
The post ExxonMobil, Gov Udom brainstorm on sustainable development appeared first on SweetCrudeReports.
More »Lagos — It is certain that lithium batteries will be dominant over the coming decade and their chemistry will change in pursuit of reduction in cost and flammability and to obtain greater energy density. Uniquely, IDTechEx forecasts the biggest application – electric vehicles – in 101 categories, but any forecast has assumptions that matter a […]
The post Batteries: IDTechEx discusses unknowns and certainties appeared first on SweetCrudeReports.
More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $67.89 a barrel on Tuesday, compared with $66.43 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »Johannesburg — South Africa’s rand extended its losses on Tuesday to a one-week low as heightened tensions in the Middle East after the weekend attack on Saudi Arabia’s crude oil facilities soured risk demand globally. At 1530 GMT the rand was 0.46% weaker at 14.7325 per dollar, having slipped to 14.8425 earlier, its weakest level […]
The post South African rand hurt by oil price spike appeared first on SweetCrudeReports.
More »Houston — U.S. President Donald Trump has tentatively approved a plan to increase the amount of biofuels that oil refiners are required to blend each year to compensate for exemptions handed out to small refiners by the Environmental Protection Agency, two sources familiar with the matter said. The plan is intended to address a major […]
The post Trump administration approves biofuel quota boost appeared first on SweetCrudeReports.
More »News Wire — MPs on Monday took Reserve Bank of Zimbabwe (RBZ) deputy governor Kupukile Mlambo to task over continued cash shortages on the formal market when groups of individuals are seen everyday trading in crispy bank notes on the black market. Mlambo was giving oral evidence before parliament’s Public Accounts Committee which is chaired […]
The post MPs grill RBZ deputy governor over cash black market appeared first on SweetCrudeReports.
More »Jeddah, Saudi Arabia — Oil prices dropped sharply on Tuesday after Saudi Arabia’s energy minister said the kingdom has fully restored its oil supply following an attack over the weekend that shut 5% of global oil output. Stocks edged higher and U.S. Treasury yields slipped ahead of an expected interest rate cut by the Federal […]
The post Saudi Arabia to restore oil output fully by end of September -energy minister appeared first on SweetCrudeReports.
More »OpeOluwani Akintayo Lagos — Petroleum product data released by the Nigerian Bureau of Statistics, NBS for the month of August says average price per litre paid by Nigerian consumers for National Household Kerosene, NHK increased by 1.24% month-on-month and by 10.80% year-on-year to N319.94 in August 2019 from N316.03 in July 2019. States with the […]
The post NBS says Nigerians paid more for kerosene in July appeared first on SweetCrudeReports.
More »New York — Oil prices dropped sharply on Tuesday after Saudi Arabia’s energy minister said the kingdom has fully restored its oil supply following an attack over the weekend that shut 5% of global oil output. Stocks edged higher and U.S. Treasury yields slipped ahead of an expected interest rate cut by the Federal Reserve […]
The post Oil falls as supply worries fade; stocks edge higher appeared first on SweetCrudeReports.
More »Port Harcourt — Before he took charge of the reigns of leadership at the Nigerian Content Development Monitoring Board as Executive Secretary, Simbi Kesiye Wabote was the General Manager in-charge of Government Relations and prior to date, General manager in charge of Nigerian Content at the Shell Petroleum Development Company Nigeria Limited, a company which […]
The post Why it’s difficult to enforce local content laws — Board Secretary appeared first on SweetCrudeReports.
More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $60.02 a barrel on Friday, compared with $60.51 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »OpeOluwani Akintayo Lagos — The Nigerian Electricity Regulatory Commission, NERC, has raised concern over low performances by electricity distribution companies, DisCos in the ongoing Meter Assets Providers, MAPs scheme. The commission raised its objection in a communique issued at the end of its 6th meeting with the Nigerian Electricity Supply Industry Stakeholders held in Lagos […]
The post MAP: NERC concerned over low performance, load rejection by DisCos appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port Harcourt — Rivers State Governor, Nyesom Ezenwo Wike, has expressed displeasure that prominent people from the state have key links to President Muhammadu Buhari, yet the East West Road, the seaports and other federal projects have been completely neglected since 2015. Governor Wike said Rivers State is a major oil producing State […]
The post A major oil producing state deserves major federal projects’ – Wike appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port Harcourt — The Nigeria Liquefied Natural Gas Limited, NLNG on Monday awarded post-graduate scholarships to 12 Nigerians to pursue Master’s degrees in high-ranking universities in the United Kingdom. The scholarships was awarded at the second edition of NLNG Scholars Day, in commemoration of the Company’s interventions in education. Speaking at the event, […]
The post CSR: NLNG awards overseas postgraduate scholarships to 12 Nigerians appeared first on SweetCrudeReports.
More »RIYADH/DUBAI/LONDON — Yemen’s Iran-aligned Houthi group on Saturday attacked two plants at the heart of Saudi Arabia’s oil industry, including the world’s biggest petroleum processing facility, in a strike that three sources said had disrupted output and exports. The pre-dawn drone attack on the Saudi Aramco facilities sparked several fires, although the kingdom, the world’s […]
The post Houthi drones hit Saudi oil heartland, crude flows disrupted appeared first on SweetCrudeReports.
More »Windhoek — THE Namibian Stock Exchange has listed an energy company for the first time, a good sign of deepening and diversifying Namibian capital markets. This was the view of NSX chief executive officer Tiaan Bazuin at the official announcement of Alpha Namibia Industries Renewable Power Limited (Anirep)’s listing on the NSX’s development capital board. […]
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More »*We will have a no hold barred discussion – Dakuku Vincent Toritseju Lagos — The Organization of Petroleum Exporting Countries, OPEC, has registered its interest in the forthcoming Global Maritime Security Conference being hosted by the Nigerian Maritime Administration and Safety Agency, NIMASA. The organization has also commended the Federal Government of Nigeria for accepting […]
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More »Abidjan, Côte d’Ivoire – The African Development Bank, rated Aaa/AAA/AAA (Moody’s/S&P/Fitch, all stable), has launched and priced a US$ 2 billion 3-year Global Benchmark bond due 16 September 2022, its first US$ benchmark of the year. Launched on September 11, the bond issue is the Bank’s second Global Benchmark of 2019, following a EUR 1 […]
The post African Development Bank launches $2bn 1.625% global benchmark appeared first on SweetCrudeReports.
More »London — That’s what analysts at investment bank Jefferies stated in a new research note sent to Rigzone on Friday. In the note, the analysts highlighted that a statement from the September 12 OPEC+ joint ministerial monitoring committee (JMMC) meeting “essentially called out the cheaters” and urged all countries to conform with their targets. “The […]
The post OPEC+ cohesion could be eroding appeared first on SweetCrudeReports.
More »LONDON — Oil slipped to around $60 a barrel on Friday as concern about a slowdown in the global economy and oil demand outweighed hints of progress in the U.S.-China trade dispute. OPEC and the International Energy Agency (IEA) both issued reports this week pointing to an oil surplus next year, despite a pact by […]
The post Oil slips toward $60 on demand worries, despite trade hopes appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port Harcourt — Against the background of declining piracy incidence in Nigerian waters in recent times, the Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas, has prescribed pragmatic measures for ship owners and seafarers to adopt in order to improve their safety and security at sea. Admiral Ibas speaking at the West African […]
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More »Mkpoikana Udoma Port Harcourt — The Trade Union Congress, TUC, has said that it is unfair for people to say that the immediate past Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, did not achieve anything while in office, despite being an expert in the industry. This comes as some stakeholders have expressed doubt, […]
The post Petroleum Ministry: It’s unfair to rate Kachikwu low – TUC appeared first on SweetCrudeReports.
More »*Says OPEC+ will soon witness fresh surging non-OPEC production OpeOluwani Akintayo Lagos — As tension in the Middle East Gulf eases and oil operations appears to be normal in recent weeks, the International Energy Agency, IEA, has said in June, the US briefly overtook Saudi Arabia and Russia as the world’s number one gross oil […]
The post U.S surpasses Saudi Arabia, Russia as world’s top oil exporter in June -IEA appeared first on SweetCrudeReports.
More »Michael James Lagos — The Nigerian Content Development and Monitoring Board, NCDMB, will collaborate with the Nigerian Financial Intelligence Unit, NFIU, to reduce capital flight in the oil and gas industry, retain spend in the local economy and create value. This agreement was sealed on Wednesday when the Executive Secretary NCDMB, Engr. Simbi Wabote received […]
The post NCDMB to partner NFIU to reduce in-country capital flight appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port Harcourt — The Nigeria Liquefied Natural Gas Limited, NLNG on Monday awarded post-graduate scholarships to 12 Nigerians to pursue Master’s degrees in high-ranking universities in the United Kingdom. The scholarships was awarded at the second edition of NLNG Scholars Day, in commemoration of the Company’s interventions in education. Speaking at the event, […]
The post CSR: NLNG awards overseas postgraduate scholarships to 12 Nigerians appeared first on SweetCrudeReports.
More »Mkpoikana Udoma Port HarcourtA coalition of civil society organisations in Nigeria, on Monday demanded the resignation of Rivers State Governor, Nyesom Ezenwo Wike, accusing him of taking sides with the Shell Petroleum Development Company of Nigeria Limited, SPDC, on issues surrounding OML 25 in Akuku-Toru Local Government Area of the state. The CSOs represented by […]
The post CSOs demand Wike’s resignation over position on OML 25 appeared first on SweetCrudeReports.
More »Abuja — The Nigerian National Petroleum Corporation, NNPC, Wednesday, announced a minor fire incident involving some fuel trucks at the loading bay of the Ibadan Depot operated by the corporation’s downstream subsidiary, Nigerian Pipelines and Storage Company, NPSC. In a statement in Abuja, Managing Director of the NPSC, Luke Anele stated that the fire which […]
The post Nigerian National Petroleum Corporation reports fire at Ibadan depot appeared first on SweetCrudeReports.
More »Lagos — Power plant tenders in Q2 2019 saw 363 tenders announced, marking a drop of 25% over the last four-quarter average of 484, according to GlobalData, a leading data and analytics company. The proportion of tenders by category tracked by GlobalData in the quarter was as follows: – Project Implementation: 263 tenders and a […]
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More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $62.74 a barrel on Tuesday, compared with $62.00 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »*Loses 10,000 barrels of oil daily Lagos — With a daily loss of about 10,000 barrels of oil from its pipelines to crude oil theft, The Shell Petroleum Development Company of Nigeria Limited, SPDC, has cried out for help from government, communities and other stakeholders to stem the incessant attack on oil assets in the […]
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More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $60.75 a barrel on Friday, compared with $60.58 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $57.81 a barrel on Tuesday, compared with $58.76 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »OpeOluwani Akintayo Lagos — Group General Manager, Group Public Affairs Division, GPAD of the Nigerian National Petroleum Corporation, NNPC, Mr. Ndu Ughamadu, MFR, has bagged the Excellence Award of the Association of Energy Correspondents of Nigeria, NAEC. The award, which is in recognition of Ughamadu’s immense contribution to energy reporting and the journalism profession was […]
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More »*As Mele Kyari tasks team on delivery of key priorities OpeOluwani Akintayo Lagos — Keen on delivering on his mandate, the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari has charged members of his management team to work assiduously to deliver on the key priority areas. These include growing the […]
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More »*Seeks Federal Government’s collaboration against oil theft Mkpoikana Udoma Port Harcourt — Rivers State Governor, Nyesom Ezenwo Wike, has reiterated that oil theft and illegal oil bunkering has continued to worsen in the country, because of the participation of security agencies. Recall that in May 2019, Governor Wike had accused the General Officer Commanding, GOC […]
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More »Idowu Bankole Yenagoa — When the list of the Ministers and their portfolios in President Muhammadu Buhari’s second cabinet was released in August 2019, one of the names that was greeted with wild jubilation in the Niger Delta in general and Ijaw land in particular was that of former Governor of Bayelsa State and the […]
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More »Moscow — Russian Energy Minister Alexander Novak and his Iranian counterpart, Reza Ardakanian have discussed the development of joint energy investment projects during their meeting in Moscow on Monday, the Russian ministry said in a statement. Novak and Ardakanian also touched on cooperation on global oil markets, the ministry added in the statement. Reuters
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More »Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $58.76 a barrel on Monday, compared with $60.11 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]
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More »Sao Paulo — Brazil has renewed and increased the size of its tariff-free quota for ethanol imports, but the new allotment will last only one year instead of the two years allocated to the former quota that expired on Saturday, according to the country’s official gazette. The Brazilian government will allow tariff-free ethanol imports up […]
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More »Dubai — Kuwait’s state refiner KNPC is commissioning its diesel production unit at the Mina Abdullah refinery, it said in a tweet on Monday. Reuters
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More »London — Britain’s energy regulator said it expects to publish on Tuesday the final report by grid operator National Grid on the cause of disruptive power cuts last month. An hour-long outage on Aug. 9 left almost 1 million homes without power while two of London’s busiest train stations closed at rush-hour because of overcrowding […]
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More »Johannesburg — The retail price of petrol in South Africa will rise by 0.7% from Sept. 4, while the price of wholesale diesel will increase by 1.8 percent, the energy department said on Monday. The price of petrol will rise by 11 cents to 16.03 rand ($1.05) per litre in the commercial hub of Gauteng […]
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More »Hong Kong/Geneva — China has lodged a complaint against the United States at the World Trade Organization over U.S. import duties, the Chinese Commerce Ministry said on Monday. The United States began imposing 15% tariffs on a variety of Chinese goods on Sunday and China began imposing new duties on U.S. crude oil, the latest […]
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More »London — British wholesale gas prices plunged on Monday morning due to strong oversupply caused by a supply jump and lower-than-expected demand. * Within-day gas price down 6.50 pence at 20.00 pence per therm by 0844 GMT. This is a 25% drop from Friday’s close * Day-ahead price down 2.70 p to 23.00 p/therm, falling by […]
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