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Recently, when the price of crude oil was within the $60-$70 range, the Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC) said the rising price may be inimical to the economic health of the country. Now that crude oil is hovering around $75bpd, should Nigeria be worried? It would seem so, especially in other …
Continue reading "Rising crude oil price: $75bpd threshold and its many worries for Nigeria"
Shell Mulls Sale of Largest US Oil Field by Bloomberg|Riley Griffin Royal Dutch Shell Plc is reviewing its holdings in the largest oil field in the U.S., a possible sale that could raise as much as $10 billion, according to Reuters. The potential sale could include all of Shell’s 260,000 acres in the Permian Basin, …
With twenty three fuel price increases, six reductions and one decisive price reversal, the Nigerian National Petroleum Corporation (NNPC) persistent upward review product price, often with reasons that lack credibility, always put pressure on the macro and micro economic breath of Nigeria. At the receiving end of each experience is the average Nigerian. Each fuel …
Continue reading "Fuel Price Increases: NNPC’s impunity against Nigerians’ humanity"
FPSO operator BW Offshore has informed that two workers have died following an incident onboard its FPSO Espoir Ivoirien located offshore Ivory Coast. FPSO Espoir Ivoirien; Source: BW Offshore At 13:30 local time on Thursday, an incident occurred whilst work was being performed in a cargo tank onboard the FPSO Espoir Ivoirien operating on the Espoir field …
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The Nigerian National Petroleum Corporation (NNPC) Thursday in Abuja announced an increase of 19.14 per cent in the average daily natural gas supply to power plants which translates to 788millon standard cubic feet of gas per day (mmscfd), equivalent to power generation of 2,873MW. The NNPC, in a release by its Group General Manager, Group …
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Halliburton Looks Beyond North America Halliburton Co. is looking away from its traditional North American heartland for sales growth. (Bloomberg) -- Halliburton Co. is looking away from its traditional North American heartland for sales growth as the fracking behemoth works its way through an historic oil bust. Shares for one of the world’s biggest oilfield …
Chevron's Noble Deal Could Be New M&A Blueprint Chevron Corp. reported Monday that it has struck a definitive agreement to acquire all outstanding shares of Noble Energy, Inc. Chevron Corp. reported Monday that it has struck a definitive agreement to acquire all outstanding shares of Noble Energy, Inc. in an all-stock transaction valued at $5 …
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has charged the newly reconstituted Board of the Petroleum Products Marketing Company (PPMC) to sustained all-season availability of products across the country. Mallam Kyari who made the call Thursday while inaugurating the new Board of the corporation’s downstream subsidiary at the …
Continue reading "Kyari Tasks New PPMC Board on Continued Energy Sufficiency"
The Nigerian National Petroleum Corporation (NNPC) has advised against a swift relocation of tank farms from their current locations along Ijegun, Kirikiri areas in Lagos and other parts of the country in order to avoid a dislocation in the supply and distribution chain of petroleum products across the country. The corporation made the submission Wednesday …
Continue reading "NNPC Gives Conditions for Relocation of Tank Farms, Petroleum Products Depots"
Swedish floating multi-turbine platform designer Hexicon AB and South African wind developer Genesis Eco-Energy Developments are joining forces to explore the development of offshore wind in South Africa. The development program will be carried out via a joint venture company in South Africa named GenesisHexicon (Pty) Ltd. “This is the winning formula for large scale energy production …
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