$11 Trillion Needed in Oil Sector to 2040 by Andreas Exarheas Rigzone Staff Monday, September 24, 2018 In the period to 2040, the required global oil sector investment is estimated at $11 trillion. In the period to 2040, the required global oil sector investment is estimated at $11 trillion. That’s according to the latest …
Return of $100 Oil Seen by Top Traders by Bloomberg Javier Blas, Heesu Lee, Alfred Cang and Dan Murtau Monday, September 24, 2018 Major oil trading houses are predicting the return of $100 crude for the first time since 2014. (Bloomberg) -- Major oil trading houses are predicting the return of $100 crude for …
NNPC Records ₦17.16bn Trading Surplus, Up 46%
The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a statement, said this was part of the highlight of the corporation’s Monthly Financial and Operations …
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SDX Energy in Discussions to Acquire Egypt Asset Package from BP
by Andreas Exarheas Rigzone Staff Friday, September 21, 2018 SDX Energy confirms that it is in discussions for the acquisition of a 'significant package of assets' in Egypt from BP. North Africa focused oil and gas company SDX Energy Inc has confirmed that it is in discussions for the acquisition of a “significant package …
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OPEC Squabbles Lose Relevance as Saudis and Russia Set the Agenda
by Bloomberg James Herron and Rakteem Katakey Friday, September 21, 2018 OPEC and its allies seem poised for another contentious meeting in Algeria this weekend. (Bloomberg) -- OPEC and its allies seem poised for another contentious meeting in Algeria this weekend as Iran -- wounded by U.S. sanctions -- cries betrayal and threatens to …
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OPEC daily basket price stood at $77.06 a barrel Wednesday, 19 September 2018
Vienna, Austria, 20 September 2018--The price of OPEC basket of fifteen crudes stood at $77.06 a barrel on Wednesday, compared with $76.09 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 Light (Gabon), …
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NCDMB, AOS Orwell flag-off training for 50 engineers
The Nigerian Content Development and Monitoring Board (NCDMB) in collaboration with AOS Orwell and the Lagos State Electricity Board, have flagged-off the Smart Electrical Engineering Training programme for 50 engineers out of the 100 selected engineers to be trained at the Lagos Energy Academy in Lagos State. The specialised training is targeted at young …
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Uganda Pushes Oil-Refinery Start to 2022 as Project Plan Delayed
by Bloomberg Fred Ojambo Wednesday, September 19, 2018 (Bloomberg) -- Uganda’s planned oil refinery, due to process the country’s first crude output, may start two years behind schedule after project studies were delayed. The front-end engineering design, or FEED, initially due for completion last year, has only just begun, Energy Minister Irene Muloni said …
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Strong Growth in Short Term Egypt Gas Production Expected
by Andreas Exarheas Rigzone Staff Thursday, September 20, 2018 Fitch Solutions Macro Research expects 'strong growth' in gas production in Egypt in the short term, a new report by the company has revealed. Fitch Solutions Macro Research expects “strong growth” in gas production in Egypt in the short term, a new report by the …
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NNPC, Seplat Execute Agreements to Deliver 3.4bscfd of Gas by 2020
As part of efforts to bridge the projected medium-term gas supply gap expected by 2020, the Nigerian National Petroleum Corporation (NNPC) and Seplat Petroleum Development Company (SPDC) have signed five agreements to expedite the development of a project aimed at delivering about 3.4 billion standard cubic feet of gas per day by 2020. The project, …
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