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Oil & Gas
Poland’s largest oil refiner buying more Nigeria cargoes in March
Poland’s largest oil refiner, state-run PKN Orlen is scheduled to buy Nigeria’s Bonny light oil in March, a deal which will be Africa biggest oil producing country’s second export to Poland.…
NNPC raising $3.3bn from OML 13 to fund cash call arrears
The Nigerian National Petroleum Corporation (NNPC) is seeking to raise $3.15 billion through developing the 416 million barrels of reserves from the Oil Mining Licence (OML) 13 field located…
NNPC to Collaborate with African Transportation Union to Curb cross-border leakages
The Nigerian National Petroleum Corporation (NNPC) has sought effective collaboration with members of the African Union of Transportation and Logistics Organisation to halt incidents of…
Nigeria to save $2.5bn annually under new Powergas, ETEFA gas flare monetisation…
Nigeria’s recent initiative to eliminate gas flaring through technically and commercially sustainable gas utilisation projects developed by competent third-party investors has started to…
Outlook for natural gas, LNG optimistic on cleaner energy demand
Natural and liquefied natural gas market will remain bullish in 2019 due to the International Maritime Organisation 2020 regulation limiting high sulfur products and China’s decision to…
Average transportation fare fell in December, as fuel sold cheapest in 12 months
The average cost of transportation dropped in December, across all means except water way, according to the reports by the National Bureau of Statistics (NBS) in its latest transport watch…
Oil rally slows possibility of economic reforms in Nigeria
Nigeria’s economy managers have cause to worry as Brent crude oil price per barrel hovers around the $60 dollar mark.
Brent crude oil price has rallied from its 02 January low of $54.91…
Update1: Otedola’s move to buy Forte upstream assets raises questions on valuation
Nigeria’s billionaire businessman Femi Otedola has shown interest in acquiring the upstream assets and power business of Forte Oil Plc. However, letting the juicy part of the entire Group go…
Despite vast gas reserves, power plants still experiencing famine
Despite boasting of one of Africa’s biggest reserves, most of the Nigeria’s gas-fired power plants which are responsible for over 70 per cent of the energy being generated continue to suffer…
Oil Price: Despite pessimism, a downturn is not yet established
Though it is still early, the year which began with some degree of uncertainties, a downturn in oil prices is not yet an established fact.
Oil is officially back in a bull market as…